Noida, June 19 (APAC Media): Indian equity benchmarks Sensex and Nifty ended lower on Friday, halting a five-session gaining streak, as selling pressure in information technology stocks weighed heavily on market sentiment amid weak global cues and continued foreign fund outflows.
The BSE Sensex fell over 600 points during the session before closing in negative territory, while the NSE Nifty 50 slipped below the 24,050-level intraday and ended around the 24,000 marks.
The decline came after recent gains prompted profit-booking across sectors, with technology shares leading the downturn.
IT stocks were the worst performers, tracking weakness in global peers after concerns over demand outlook and cautious commentary from major international technology firms. Heavyweights such as Infosys, TCS, and HCL Technologies were among the top losers, dragging the Nifty IT index sharply lower.
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Broader markets also turned weak, though losses were relatively contained compared to frontline indices. Banking and energy stocks offered some support but failed to offset the drag from the technology space.
Market participants said sentiment was influenced by a combination of factors, including foreign institutional investor (FII) selling, mixed global equity trends, and uncertainty over macroeconomic indicators.
Traders also pointed to profit-taking after recent record highs, which had pushed valuations higher.
At the close, the Sensex ended around the 76,800 level, while the Nifty 50 settled near 24,000.
Analysts expect the market to consolidate in the near term as investors await fresh triggers from global economic data and corporate earnings updates.
Meanwhile, volatility remained elevated through the session, with index movements largely driven by stock-specific action in heavyweight counters.
–ENDS–
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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