Stock Market Today:National stock markets opened in deep red in the last trading session of the week with the BSE Sensex falling as much as 585 points or a decline of 0.65 per cent, while the National Stock Exchange’s Nifty 50 benchmark index fell over 158 points or 0.64 per cent to settle below the 24,600 mark.
Until Thursday, the Nifty and Sensex They have lost 0.9 percent and 0.5 percent, respectively, and are on track for their third consecutive week of declines.
Markets are being dragged by Infosys which released its earnings for the second quarter of the current financial year (Q2FY25). The company missed analysts’ estimates by announcing a 4.7 per cent rise in its net profit for the second quarter of the fiscal year, reporting a figure of Rs 6,506 crore for the July-September period. On Friday at 9:31 the shares of the IT company were trading down 2.31 per cent on the BSE.
Titan, Nestle India, ITC, suzuki maruti and Tech Mahindra were other stocks that traded in the red.
On the other hand, Axis Bank, which posted an 18 per cent rise in its second quarter profit, rose as much as 3.31 per cent, leading the profit chart on the BSE.
Actions of wipro another major IT company, reported a 21.2 percent increase in profit for the second quarter of the current fiscal year, in reaction to which the company’s shares rose more than 4 percent in the first hour of trading of the Friday.
tata engines, TCS Tata Steel and JSW Steel were other BSE winners.
Broadly speaking, foreign institutional investors were net sellers of Indian stocks for the 14th consecutive session on Thursday.
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