CHENNAI: Indian equity indices closed sharply lower on Friday (July 11), marked by a sharp sell-off in the IT sector, renewed trade fears, and cautious investor sentiment.
The BSE Sensex fell 689.81 points (–0.83%), closing at 82,500.47, while Nifty 50 declined 205.40 points (–0.81%), ending at 25,149.85.
The key drivers behind the decline included IT sector sell-off, US trade tensions, and other global cues and foreign outflows.
Tata Consultancy Services (TCS) reported weaker-than-expected Q1 results, with revenue disappointments weighing heavily
The Nifty IT index dropped approximately 1.8%, with Wipro and Infosys also under pressure.
TCS dropped about 2–3.5% following its miss in Q1 results. Tata Steel eased 0.5%, lagging peers amid seasonal weakness.
In FMCG, Hindustan Unilever rose about 4.4% on the announcement of Priya Nair as its new CEO—the steepest gain in over a year.
Glenmark Pharma surged about 10% after striking a licensing deal with AbbVie.
Trade War
The US President Trump announced a 35% tariff on Canadian imports, with threats extending to broad-based tariffs, spooking markets globally.
This exacerbated fears of a full-blown trade war, dampening investor confidence.
Weak international markets, potential Russia sanctions, and volatility in global trade chains added to pressure.
Foreign institutional investors are showing signs of selling amid valuation worries and rising US interest rates
