Stocks fall for second week amid disappointing earnings; TCS, Titan drag

The Nifty ended lower on Friday, with benchmark indexes falling for a second straight week, as weak earnings reports and muted commentary from top companies weighed on sentiment.The NSE Nifty 50 closed 205 points lower at 25,150, breaching key support levels, while the S&P BSE Sensex slipped 690 points to end at 82,500. The Nifty Bank dropped 201 points to 57,214 and the broader Nifty Midcap 100 fell 518 points to 58,642.
Disappointing first-quarter results from Tata Consultancy Services (TCS) dragged down technology stocks. The IT major fell after its earnings and management commentary failed to impress investors, making the sector the biggest drag on the Nifty this week.
Among individual stocks, Glenmark Pharmaceuticals surged up to 20% during the day before closing sharply higher on a deal related to its oncology drug, making it the top performer on the day. Hindustan Unilever (HUL) gained 4% following a top-level management reshuffle, which investors viewed positively.However, the broader market sentiment remained weak. Capital market stocks, including BSE and MCX, extended their slide, with the latter closing 3% lower. Selling pressure continued in the defence sector, with Solar Industries and Bharat Dynamics among the top losers. Auto stocks also took a hit, with Mahindra & Mahindra, Bajaj Auto and Hero MotoCorp declining between 2% and 3%.

Bharti Airtel extended its losses from Thursday and ended 2% lower, while IREDA slumped 6% after reporting deterioration in asset quality in the June quarter. Tata Elxsi ended in the red, though well off the day’s lows despite weak earnings. Avenue Supermarts dropped 2% ahead of its quarterly results.VIP Industries pared gains to close off the day’s highs amid market buzz around a potential promoter stake sale.

Market breadth remained negative, with the advance-decline ratio at 1:2, reflecting broad-based selling across sectors.

For the week, the Nifty and Sensex each dropped around 1%, with IT names such as HCLTech, TCS, and Wipro among the top losers. The FMCG index was the best-performing sectoral index, led by gains in HUL and Godrej Consumer.

Among Nifty constituents, Titan was the biggest weekly laggard, falling 9% after a subdued Q1 update. On the flip side, Kotak Mahindra Bank, NTPC and SBI Life posted strong gains.

In the midcap space, Glenmark, IIFL Finance, Nykaa, Godrej Consumer and Dabur stood out as top gainers. BSE, MCX, Solar Industries, Bharat Forge, Info Edge and Aarti Industries were among the worst-performing midcaps for the week.