India’s equity benchmarks are set to open lower on Friday, following weaker-than-expected earnings from information technology major Tata Consultancy Services and US President Donald Trump’s fresh tariffs on its key trading partner Canada.
The Gift Nifty futures were trading at 25,282.5 points, as of 8:01 a.m. IST, indicating that the Nifty 50 will open below Thursday’s close of 25,355.25.
Tata Consultancy Services, which reported its first-quarter earnings after market hours on Thursday, missed revenue estimates as its clients stayed cautious about non-essential spending amid tariff-related uncertainty.
The revenue shortfall at TCS, the first Indian tech major to report results, raised concerns about future demand for the country’s $283 billion IT sector and dragged down US-listed shares of rivals Infosys and Wipro by about 4% and 5%, respectively.
Multiple brokerages have trimmed their fiscal 2026 earnings forecasts for TCS after its earnings, citing subdued demand environment.
India’s equity benchmarks slipped about 0.5% on Thursday, dragged by IT stocks on expectations of “soft” earnings for TCS.
Meanwhile, Trump said on Thursday that the US would impose a 35% tariff on imports from Canada next month and planned to impose blanket tariffs of 15% or 20% on most other trade partners.
Back home, Hindustan Unilever will be among other stocks in focus on Friday.
The consumer goods major on Thursday named Priya Nair as managing director and CEO, replacing Rohit Jawa well before the completion of his five-year term as the company’s chief.
The engineering and technology services Tata Elxsi reported a smaller-than-expected first-quarter profit on Thursday, as industry-and customer-specific issues affected R&D spend across geographies.
Zee Entertainment Enterprises failed to secure the required shareholder votes to raise funds by issuing warrants on Thursday, blocking plans by the founding Goenka family to increase their stake in the broadcaster.
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