<p>Indian shares inched lower on Friday, heading for a third consecutive session of losses, pressured by higher oil prices on Middle East tensions and a drop in IT <a href="https://www.deccanherald.com/business/markets">stocks </a>after Infosys issued a weak revenue forecast.</p><p>The Nifty 50 fell 0.66% to 24,013.75, and the BSE Sensex shed 0.76% to 77,074.63, as of 9:37 a.m. IST.</p><p>They are down 1.4% and 1.8% this week, on course to snap a two-week winning streak.</p><p>All 16 major sectors declined, on the day. The broader small-caps and mid-caps fell about 0.5% each.</p><p>IT index fell 2.3%, dragged down by a 3% drop in <a href="https://www.deccanherald.com/tags/infosys">Infosys</a>.</p>.Friday the 13th spooks markets.<p>The country's No. 2 IT company forecast annual revenue growth below market expectations due to macroeconomic uncertainty and tepid client spending. The outlook overshadowed better-than-expected fourth-quarter results. "Growth concerns will continue to weigh on the stock," said Jefferies, adding that Infosys' FY2027 growth guidance was "disappointing amid multiple growth headwinds." Brent crude hovered around $106 after Iran displayed its grip over the Strait of Hormuz with a video of its commandos storming a cargo ship following the collapse of peace negotiations and U.S. President Donald Trump's indefinite extension of the ceasefire. "Persistent uncertainties due to escalating U.S.-Iran tensions and a sharp rise in crude prices is keeping sentiment fragile," said Bajaj Broking Research.</p><p>"Additionally, the rupee weakening to the 94-mark, continued foreign outflows from domestic stocks and ongoing earnings announcements are adding to overall market gyrations," the brokerage said.</p>.Sensex tumbles 558 points on sell-off in IT shares.<p>Among other stocks, LTM fell 3.4% despite a marginal fourth-quarter revenue beat, as multiple brokerages said a weak growth outlook will lead to valuations derating.</p><p>Cyient fell 3.7% after missing quarterly profit expectations on one-time charge, higher costs.</p><p>Bucking the trend, Inventurus Knowledge Solutions jumped 9% after announcing a major cross-border acquisition, signing a deal to buy U.S.-based healthcare IT firm TruBridge for up to $565 million.</p>
<p>Indian shares inched lower on Friday, heading for a third consecutive session of losses, pressured by higher oil prices on Middle East tensions and a drop in IT <a href="https://www.deccanherald.com/business/markets">stocks </a>after Infosys issued a weak revenue forecast.</p><p>The Nifty 50 fell 0.66% to 24,013.75, and the BSE Sensex shed 0.76% to 77,074.63, as of 9:37 a.m. IST.</p><p>They are down 1.4% and 1.8% this week, on course to snap a two-week winning streak.</p><p>All 16 major sectors declined, on the day. The broader small-caps and mid-caps fell about 0.5% each.</p><p>IT index fell 2.3%, dragged down by a 3% drop in <a href="https://www.deccanherald.com/tags/infosys">Infosys</a>.</p>.Friday the 13th spooks markets.<p>The country's No. 2 IT company forecast annual revenue growth below market expectations due to macroeconomic uncertainty and tepid client spending. The outlook overshadowed better-than-expected fourth-quarter results. "Growth concerns will continue to weigh on the stock," said Jefferies, adding that Infosys' FY2027 growth guidance was "disappointing amid multiple growth headwinds." Brent crude hovered around $106 after Iran displayed its grip over the Strait of Hormuz with a video of its commandos storming a cargo ship following the collapse of peace negotiations and U.S. President Donald Trump's indefinite extension of the ceasefire. "Persistent uncertainties due to escalating U.S.-Iran tensions and a sharp rise in crude prices is keeping sentiment fragile," said Bajaj Broking Research.</p><p>"Additionally, the rupee weakening to the 94-mark, continued foreign outflows from domestic stocks and ongoing earnings announcements are adding to overall market gyrations," the brokerage said.</p>.Sensex tumbles 558 points on sell-off in IT shares.<p>Among other stocks, LTM fell 3.4% despite a marginal fourth-quarter revenue beat, as multiple brokerages said a weak growth outlook will lead to valuations derating.</p><p>Cyient fell 3.7% after missing quarterly profit expectations on one-time charge, higher costs.</p><p>Bucking the trend, Inventurus Knowledge Solutions jumped 9% after announcing a major cross-border acquisition, signing a deal to buy U.S.-based healthcare IT firm TruBridge for up to $565 million.</p>