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India’s major indices closed sharply lower on Friday, ending a five-session winning streak, as a sell-off in IT stocks sent markets lower. Sentiment took a hit after global IT major Accenture cut its revenue growth guidance, raising concerns about the demand outlook and weighing on Indian technology stocks. The Sensex and Nifty indices remained under pressure throughout the session, as investors booked profits after the recent rally. Positive global signals were overshadowed by weakness in frontline IT names, while broader market sentiment also turned cautious amid continued uncertainty over global growth and interest rate expectations. Despite today’s decline, market participants continue to monitor earnings trends, crude oil prices and global macro developments for signals on the next phase of the market’s direction.
