India’s benchmark equity indices traded lower on Friday, dragged by IT heavyweights and pharma companies. The Nifty slipped as much as 0.7% but managed to stay marginally above 24,000 — a support level. The BSE Sensex shed over 600 points or 0.8%.
HCLTech, Infosys, Cipla, TCS and Dr Reddy’s were some of the top losers on the blue-chip index. Infoys shed as much as 3.7% after its FY27 guidance soured investor sentiment. Cipla tanked after partner unit, Pharmathen’s Rodopi facility in Greece, was placed under an import alert by the USFDA.
Meanwhile, most Asian stock markets were down as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire. The two countries agreed to extend their ceasefire by three weeks following a meeting in the White House with top US officials, President Donald Trump.
The MSCI Asia Pacific index was flat. Japan’s benchmark Nikkei 225 gained as much as 0.9% while the Topix rose 0.4% after core inflation in the country accelerated for the first time in five months with Iran war fueling energy worries. South Korea’s Kospi was down 0.6%, Hang Seng fell 0.2% and the CSI 300 dropped 0.8%.
Oil prices extended gains for a fifth consecutive day — the longest rally since January — as faltering talks between the US and Iran heightened fears of prolonged supply disruptions in the Persian Gulf. Brent crude for June settlement rose 1.1% to $106.20 a barrel, pushing weekly gains to about 17%, while WTI for June delivery climbed 0.96% to $96.77, holding near the $97 mark.
