Welcome to a fresh episode of ET Market Watch, where we bring you the latest news from the world of stock markets every single day.
Let’s get to it.
Markets ended deep in the red this Friday, and there wasn’t just one reason. There were four. Let’s break them down.
First up: TCS earnings.
India’s largest IT company posted its Q1 numbers, and they didn’t impress.
Yes, net profit was up 6% year-on-year to ₹12,760 crore.
But revenue in constant currency terms actually fell 3.1%.
The result? TCS shares closed 3.5% lower.
That weakness bled into the entire IT pack, Wipro, HCL Tech, LTIMindtree, Persistent Systems, Infosys, all down.
Nifty IT fell 1.8%.
Factor two: Trump’s tariff tantrum.
The US President announced a 35% tariff on imports from Canada.
And hinted at 15 to 20% blanket tariffs on other major trade partners.
That rekindled fears of a global trade war, and global markets responded with caution.
US and Eurozone futures slipped around 0.4%.
Third, oil prices are up.
Crude climbed after Trump teased an announcement on Russia, sparking fears of new sanctions.
Brent touched $68.83 a barrel. WTI rose to $66.81.
That’s adding to inflation fears — and markets don’t like that.
And fourth — SEBI’s crackdown.
India’s market regulator is investigating over 200 companies for alleged pump-and-dump operations.
Searches were conducted at over 80 locations. Data was seized from 150 mobile devices and 100 computers.
The companies in question are said to have manipulated share prices through coordinated social media campaigns.
That’s made investors extra cautious, especially in smallcaps and midcaps.
Put it all together, and here’s the picture:
The Sensex ended 690 points lower.
Nifty fell 205 points.
Most sectors bled, IT, Auto, Realty, Consumer Durables, down up to 1.8%.
That’s your quick wrap on today’s market action.
We’ll be back tomorrow with more.
Until then, stay informed, stay sharp.
