India's equity benchmarks down as earnings worries drag IT stocks

Ola Electric Mobility

14/07/2025 08:34

** India's benchmark Nifty 50 .NSEI and Sensex .BSESN indexes fall about 0.5% each

** Information technology stocks gauge .NIFTYIT down 1.6%, leading sectoral losers, on concerns over continued demand weakness following weak Q1 results from Tata Consultancy Services TCS.NS last week

** HCL Technologies HCLT.NS shares down 1.5% ahead of its quarterly earnings on the day

** Nine of the 13 sectors advance; broader mid- .NIFMDCP100 and small-caps .NIFSMCP100 rise 0.6% and 0.8%, respectively, led by healthcare and real estate stocks

** "TCS' numbers have changed the mood of the IT sector," says Arun Malhotra, fund manager at CapGrow Capital; adds, "Even the overall earnings growth is not expected to be great"

** U.S. tariff uncertainty is further adding to jitteriness, say analysts

** Among stocks, Ola Electric Mobility OLAE.NS jumps 15% as the electric scooter maker reports narrower sequential loss and says gross margins will improve in fiscal year 2026

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))