India’s BSE Sensex closed about 0.8% down at 76,803 on Friday, halting a five-day advance, pressured by weakness in tech stocks following revenue growth guidance cut by Accenture. Market sentiment was also hit by foreign outflows, renewed geopolitical uncertainties and the prospect of higher US interest rates. In equities, Infosys slipped over 6%, Tata Consultancy Services dropped 3.5%, HCL Tech shed 2.7% and Tech Mahindra fell 2.5%. HDFC Bank and Mahindra & Mahindra were also among the laggards, down 2.3% and 2.1%, respectively. On the upside, top gainers included Eternal (2.2%), Bharti Airtel (1.8%), Power Grid (1.3%) and NTPC (1%). For the week, the index advanced by 1.7%.
The Shanghai Composite fell 0.43% to close at 4,090 on Thursday, while the Shenzhen Component rose 0.94% to a one-month high of 16,030, with investors favoring technology stocks after regulators pledged support for innovation at the Lujiazui Forum. Beijing stepped up efforts to channel funding toward emerging technologies amid intensifying competition with the US. Authorities said they would support stock market listings for startups in "future industries," including quantum technology, nuclear fusion, and brain-computer interfaces. Tech stocks such as Zhongji Innolight (7.19%), Eoptolink Technology (4.23%), and NAURA Technology (2.39%) were among the top performers. Meanwhile, losses in major banks, including Industrial and Commercial Bank of China (-2.72%), Agricultural Bank of China (-2.45%), and China Construction Bank (-2.07%), weighed on the Shanghai Composite, creating a divergence between the two indexes. Markets will be closed on June 19 for the Dragon Boat Festival holiday.
