Top gainers, losers today: Tata Motors, SBI, Kotak Mahindra Bank, Infosys, Wipro; check full list

livemint.com:

Nifty snapped their six-day winning streak on strong losses in index heavyweights including Infosys, Reliance Industries, TCS and Hindustan Unilever (HUL) on Friday, July 21. Investors were spooked by a significant downward revision in Infosys' revenue guidance, leading to a sharp selloff in the stock after the IT major reported its weakest June quarter revenue growth since FY21.  The Nifty IT index fell by four per cent, with nine stocks showing losses, while only one stock, Mphasis, managed to remain in the green, recording a gain of 4.95 per cent. Shares of Reliance Industries declined as Street is expecting a softer set of numbers due to the subdued performance of the O2C (oil to chemicals) segment.

‘’The weak guidance from Infosys cast a shadow over the outlook of the Indian IT sector, causing a delay in Nifty's pursuit of the 20,000 mark. While the heavyweights surrendered to the bears, the small caps demonstrated resilience,'' said Vinod Nair, Head of Research at Geojit Financial Services. Weak global cues also added to the negative sentiment.‘’Global markets presented a mixed picture, with the US market struggling due to weak earnings, while UK retail sales exceeded expectations with a 0.7 per cent MoM growth,'' added Nair.

Sensex saw a gap-down opening and extended losses and cracked 1,038 points to the intraday low of 66,533.74. The index closed with a loss of 888 points, or 1.31 per cent, at 66,684.26 while the Nifty ended with a loss of 234 points, or 1.17 per cent, at 19,745. Mid and smallcaps substantially outperformed the benchmark index.