Key benchmark indices Sensex and Nifty declined for the third session in a row on Friday, dropping nearly 1 per cent, dragged by heavy selling in IT, auto and energy stocks.
Tariff-related uncertainties amid mixed global market trends also added to the pressure, analysts said.
The 30-share BSE Sensex tanked 689.81 points or 0.83 per cent to settle at 82,500.47.
Indian markets ended in the red on Thursday, dragged down by losses in IT and financial stocks, as investors turned cautious ahead of TCS earnings and amid persistent uncertainty over a potential US-India trade deal.
Despite a 5.3% sequential rise in net profit, the cautious outlook from TCS and an unannounced wage hike signal ongoing challenges for India's largest IT services firm amidst broader economic uncertainties and evolving client spending
From the Sensex pack, Bharti Airtel, Asian Paints, Infosys, Bharat Electronics, Tech Mahindra and Eternal were major laggards.
However, Maruti, Tata Steel, Bajaj Finance, Bajaj Finserv, Trent and Tata Consultancy Services were among the gainers.
Indian benchmark indices closed in the red on Thursday, primarily influenced by declines in information technology stocks. Investors exhibited caution ahead of Tata Consultancy Services' earnings report and ongoing uncertainty surrounding a potential U.S.-India trade deal. The BSE Sensex fell by 0.41%, while the NSE Nifty slipped by 0.47%, impacting market capitalization.
Equity benchmark indices traded in negative territory amid the start of earnings season. In addition, the continued tension over US-India trade deal negotiations rattled investor sentiment.
TCS has seen growth decline in the past three years, two of which have been under Krithivasan, and reported the slowest growth amongst India's top three IT firms in FY25. Mint takes a look at five issues analysts and investors will follow closely during its earnings announcement tomorrow.