Sensex, Nifty Snap Three-day Winning Streak
(RTTNews) - Indian shares ended lower on Friday as earnings concerns and U.S. tariff uncertainty overshadowed renewed hopes of Fed rate cuts.
Industry body Ficci on Thursday lowered India's growth projection for the current financial year to 6.4 percent from 7 percent estimated earlier and indicated the possibility of short-term disruptions through channels like exports, foreign capital flows, and input costs for India under the incoming Trump administration.
Benchmark indexes Sensex and Nifty snapped a three-day losing streak as quarterly earnings results from IT firm Infosys and private sector lender Axis Bank failed to impress investors.
Market participants also looked forward to the results from Wipro, Tech Mahindra and Jio Financial Services.
The benchmark S&P/BSE Sensex ended the session down 423.49 points, or 0.55 percent, at 76,619.33.
The broader NSE Nifty index closed at 23,203.20, down 108.60 points, or 0.47 percent, from its previous close.
Infosys led declines to close about 6 percent lower despite the company reporting healthy financials in Q3FY25, surpassing street estimates across all fronts.
Axis Bank plummeted 4.4 percent as it reported a tepid rise in its December quarter profits.
Wipro, Kotak Mahindra Bank and Shriram Finance fell 2-4 percent.
Among the top gainers, Reliance Industries 2.7 percent after announcing a record quarterly profit.
Nestle India, Hindalco, Coal India and BPCL rose 2-3 percent.
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