Infosys, IndiGo drag Indian shares down; benchmarks set for worst week in 4 months
BUZZ-Infosys, IndiGo drag Indian shares down; benchmarks set for worst week in 4 months ** India's Nifty 50 .NSEI and Sensex .BSESN lose about 0.8% each on Friday, taking their weekly losses to 2.6% and 3%, on course for their worst in four months, on a spike in oil prices to $100 a barrel on escalating Middle East tensions
** IT heavyweight Infosys INFY.NS drops 2.8% after it misses quarterly revenue view, narrows its fiscal year 2027 revenue growth forecast to 1.5%-3% from 1.5%-3.5%, triggering price target cuts from at least 20 brokerages
** Airlines operator Interglobe Aviation INGL.NS dips 2% after posting a June quarter loss and forecasting flat capacity growth for the ongoing September quarter
** All 16 major sectors decline; the broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 fall 0.8% and 0.6%
** Among stocks, HDFC Bank HDBK.NS falls 0.8%, taking its weekly loss to 10% after Q1 net interest margin declines sequentially; Reuters' report of a delay in reappointment recommendation of the lender's CEO also weighs on sentiment
** HDBK set for worst week since Jan 2024
** Brokerage Motilal Oswal Financial Services MOFS.NS slips 8.3% after soft quarterly earnings
** Eternal ETEA.NS and Swiggy SWIG.NS fall after report of Flipkart's food-delivery foray
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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