MUMBAI: A correction, mainly on back of global
market
weakness and domestically led by Reliance Industries, Tata Steel and NTPC, shaved off 739 points or nearly 1% from the sensex on Friday, even as buying in IT stocks cushioned the fall to some extent. The sensex closed at 80,605 points. On the NSE, Nifty lost 270 points or 1.1% to close at 24,531 points.
The
global
software
outage
also impacted market sentiment, brokers said.
The day’s selling was led by domestic
investors
while foreign investors continued to buy, BSE data showed. The selling in mid and small-cap stocks was even sharper.
According to Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services, markets were impacted due to new tensions between US and China which resulted in global profit booking. “In addition, the Microsoft outage impacted a lot of large organisations, airlines and stock exchanges globally. Investors are also cautious ahead of the Budget next week, which will provide the next set of directions to (investors),” Khemka said.
We also published the following articles recently
UK airports, trains, London Stock Exchange, NHS impacted by global IT outage
Learn about the global IT outage causing delays at UK airports and trains. Find out how organizations like the London Stock Exchange and NHS are affected. No malicious attack is suspected. Contingency plans in place at major airports to minimize disruptions.
Microsoft global outage: Banks, airlines, rail networks hit; list of services impacted
Learn about the global impact of the Microsoft outage on industries like aviation, finance, and retail. Airlines, airports, banks, and individual users worldwide are facing disruptions. Find out how Microsoft is addressing the issues with its Azure services and Microsoft 365 apps.
Microsoft global outage: London Stock Exchange back up and running following technical glitches
London Stock Exchange Group overcomes technical glitch post global cyber outage tied to Microsoft problem. LSEG’s data and systems restored as banks and firms encounter access issues. CrowdStrike’s update leads to disruption, impacting users of Windows OS. Microsoft confirms problem resolution.
