Sensex slips 112 points, Nifty falls below 25,550 mark
After two days of gains, Indian stock markets cooled off on Friday.
The Sensex fell 112 points to 83,355.96 in early trade, while the Nifty dipped below 25,550.
This came despite continued optimism around corporate earnings recovery and steady foreign fund inflows.
IT stocks were the main culprits
If you're following the markets, today's dip shows how a single sector can sway things.
IT stocks were the main culprits—Wipro tumbled 4.4% after missing expectations, and Infosys slid nearly 2% despite posting a 13% profit jump last quarter.
The Nifty IT index lost 1.2%, pulling the broader market down with it.
Midcap stocks slipped a bit
It wasn't just tech—companies like Eternal (down 4% on weak profits), HCL Technologies, Power Grid, and Tech Mahindra also dragged.
Midcap stocks slipped a bit, but smallcaps actually edged up, so it was a mixed bag overall.
Even with positive trends elsewhere, sector-specific selling can quickly change the market's mood.