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Stock Indices Slump With IT Sector Being Only Outlier
The Business Guardian
|January 11, 2025
Indian stock indices settled in the red for the third straight day on Friday, the last session of the current week, due to looming uncertainties around President Donald Trump-elect's likely actions post his inauguration.
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The Indian equity markets underperformed most global markets. The Sensex and Nifty index declined by 2 per cent this week, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. Besides, consistent selling by foreign investors and weak domestic economic growth also reflected on the stock markets.
Sensex closed at 77,378.91 points, down 241.30 points or 0.31 per cent, Nifty closed at 23,440.00 points, down 86.50 points or 0.37 per cent.
All the sectoral indices were deep in the red except Nifty IT, which closed 3.44 percent higher. Nifty media, PSU bank, and realty were the top losers.
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