Mumbai, June 19 (IANS) IT stocks came under selling pressure on Friday, with the Nifty IT index plunging more than 6 per cent after global technology services firm Accenture cut its revenue growth guidance and flagged a weaker demand environment, reigniting concerns over the pace of recovery in global technology spending.The technology index declined as much as 6.43 per cent or 1,831 points to hit an intraday low of 26,634.50 at around 10:25 am, making it the worst-performing sectoral index in e…
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Mumbai, June 11 (IANS) Domestic equity benchmarks traded lower on Thursday in the morning session amid escalating tensions in West Asia and a sharp rise in crude oil prices.Sensex declined over 450 points or 0.62 per cent to touch an intraday low of 73,518 in early trade. Similarly, Nifty slipped more than 100 points or 0.61 per cent to an intraday low of 23,072.Sectorally, IT stocks led the decline, with the Nifty IT index tumbling more than 2 per cent. Nifty MidSmall IT & Telecom, Nifty Ce…
Mumbai, June 3 (IANS) Indian equity benchmark indices ended lower on Wednesday, although they recovered a significant portion of intra-day losses supported by gains in PSU bank and financial stocks.Markets witnessed sharp volatility during the session, with heavy selling pressure in information technology stocks weighing on investor sentiment.However, buying in PSU banks, private banks, and healthcare stocks helped the indices trim losses from the day’s low.The Nifty closed 77.95 points or 0.3…
Mumbai, June 3 (IANS) Domestic equities traded lower on Wednesday following fresh escalation in tensions between the US and Iran, with benchmark indices declining up to 1 per cent during morning trade.Sensex fell as much as 816 points or 1.09 per cent to hit an intraday low of 73,833 in early trade. Similarly, Nifty declined 200 points or 0.86 per cent to touch an intraday low of 23,280.Sectoral indices traded largely in the red, with technology stocks emerging as the biggest drag. Nifty IT slum…
Mumbai, May 14 (IANS) Domestic equity markets traded higher on Thursday despite elevated oil prices and geopolitical tensions, with benchmark indices rising up to 0.7 per cent amid buying in pharma and banking shares in early trade.Sensex rose as much as 462 points or 0.61 per cent to touch an intraday high of 75,071 in morning trade, while Nifty traded around 170 points or 0.72 per cent higher at 23,581.Sector-wise, buying interest was seen in pharma and healthcare, metals, chemicals, banking, …
New Delhi, April 25 (IANS) Headcount at India’s top IT firms declined by over 7,000 in FY26, which highlighted a sharp reversal in hiring trends as companies turned cautious on workforce expansion amid an increasing focus on Artificial Intelligence (AI) and changing demand in the industry.However, the combined headcount of major IT services providers — Tata Consultancy Services, Infosys, HCLTech, Wipro and Tech Mahindra — fell by 7,389 employees in FY26, compared to a net addition of 12,718 in…
Mumbai, April 7 (IANS) Indian equity markets extended their winning streak for a fourth straight session, supported by late buying interest that lifted benchmark indices higher by the close.The Nifty ended the day up 0.68 per cent, gaining 155.40 points to settle at 23,123.65. Meanwhile, the Sensex rose 0.69 per cent, or 507.73 points, to close at 74,616.58.“Going ahead, continuation of this momentum may push the index towards the 23500-23600 resistance band, which remains a critical hurdle du…
New Delhi, March 17 (IANS) IT stocks came under selling pressure on Tuesday, emerging as the top dragger among sectoral indices amid rising concerns over the impact of generative artificial intelligence on traditional revenue streams.The Nifty IT index declined as much as 2.59 per cent to 28,288, hitting an intra-day low, with all constituents of the index falling by up to around 7 per cent.Meanwhile, the Nifty traded with high volatility, while weakness was also seen in PSU Bank and FMCG indice…
New Delhi, Feb 12 (IANS) The technology sector saw heightened panic selling on Thursday, sending the Nifty IT index down 5.51 per cent to a four‑month low as investors were spooked over AI‑led disruption and weaker hopes for near‑term US interest‑rate cuts.The combined market capitalisation of Nifty IT constituents collapsed to Rs 27,32,579 crore down roughly Rs 1.6 lakh crore.Shares of major software exporters tumbled over 5.5 per cent each, with Tata Consultancy Services falling 5.48 p…
Mumbai, Feb 4 (IANS) Indian equity markets closed almost flat on Wednesday, snapping a two-day rally, as a sharp fall in information technology (IT) stocks weighed on the benchmark indices. Investor sentiment turned cautious after fresh concerns about advances in artificial intelligence (AI) hit global software stocks.At the closing bell, the Nifty rose 48.45 points, or 0.19 per cent, to settle at 25,776.00. The Sensex gained 78.56 points, or 0.09 per cent, to end at 83,817.69.Nifty traded in a …