INSUBCONTINENT EXCLUSIVE:
Hi there, youre listening to ET Markets Radio
Im your host, Neha V Mahajan.Welcome to a fresh episode of ET Market Watch, where we bring you the latest news from the world of stock
exchange every single day.Lets get to it.Markets ended deep at a loss this Friday, and there wasnt just one factor
Lets break them down.First up: TCS earnings.Indias largest IT company posted its Q1 numbers, and they didnt impress.Yes, net profit was up
6% year-on-year to 12,760 crore.But revenue in consistent currency terms in fact fell 3.1%
The result? TCS shares closed 3.5% lower.That weak point bled into the entire IT pack, Wipro, HCL Tech, LTIMindtree, Persistent Systems,
Infosys, all down.Nifty IT fell 1.8%
Aspect two: Trumps tariff tantrum.The United States President revealed a 35% tariff on imports from Canada.And hinted at 15 to 20% blanket
tariffs on other significant trade partners.That rekindled fears of a global trade war, and worldwide markets reacted with caution.US and
Eurozone futures slipped around 0.4%
Third, oil rates are up.Crude climbed up after Trump teased an announcement on Russia, sparking worries of brand-new sanctions.Brent touched
Thats adding to inflation fears and markets do not like that.And fourth SEBIs crackdown.Indias market regulator is investigating over 200
business for alleged pump-and-dump operations.Searches were carried out at over 80 places
Information was taken from 150 mobile phones and 100 computers.The companies in concern are said to have controlled share costs through
coordinated social media campaigns.Thats made investors extra careful, specifically in smallcaps and midcaps.Put all of it together, and
heres the photo: The Sensex ended 690 points lower.Nifty fell 205 points.Most sectors bled, IT, Auto, Realty, Consumer Durables, down up to
Thats your fast wrap on todays market action.Well be back tomorrow with more.Until then, stay notified, stay sharp.msid-122390799,
