Indian markets close mixed as 6-week losses persist amid IPOs
Business
Indian stock markets wrapped up Friday on a mixed note: Sensex dipped slightly, while Nifty managed a small gain.
Both indices have now posted losses for six weeks in a row, something we haven't seen since 2020.
The mood was shaped by falling crude oil prices and investors shifting their focus (and money) toward new IPOs.
Tata Consultancy Services slumps, metals rally
Tata Group stocks struggled, with TCS falling 4.33% amid uncertainty about Tata Sons's leadership and possible listing plans.
The IT sector also slipped as worries about global tech spending grew due to high interest rates.
On the brighter side, metal stocks did well: the Nifty Metal index rose 1.51%.
Plus, the ₹2.3-billion NSE IPO was fully subscribed, keeping investor excitement alive in the primary market.