Share Market News: Stock Market Opened Weak on Friday, IT and Banking Stocks Under Pressure

Stock Market News: On the final trading day of the week, Friday, the Indian stock market opened with red, with the Sensex down 106 points to 82,151 and the Nifty down 24 points to 25,087. Bank Nifty also dropped 268 points, opening at 56,560. Despite initial encouraging signals from the global market and increases in the Gift Nifty, domestic indexes began to trade under pressure. The IT, banking, and financial sectors all saw significant selling pressure, continuing the downward trend from the previous session. While LTI Mindtree reported good earnings and Indian Hotels surpassed expectations, Datacom underperformed. Furthermore, some losses were seen in farmer-related stocks during early trading.

Wipro Records 11% Jump in Q1 Profit

Wipro's Q1 earnings reveal an 11% year-on-year growth in net profit to Rs 3,330 Cr, while sales remains low. The corporation also declared a 5% dividend. Axis Bank’s Q1 profit fell by 4% to Rs 5,806 Cr, resulting in a 5% dip in its GDR. Today’s biggest gainers included Wipro (2.1%), Tata Steel (1.26%), and Mahindra & Mahindra (0.79%). Axis Bank (-4.01%), Bharti Airtel (-1.57%), and Tech Mahindra (-1.27%) were the worst performing stocks. Meanwhile, Samvardhana Motherson International traded ex-bonus today, with a 1:2 bonus issue, and the record date was July 8, 2025. In global news, U.S. markets closed higher yesterday, but investor sentiment was shaken by reports—later denied—that former President Trump planned to dismiss Federal Reserve Chairman Jerome Powell.