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Sensex Off Day's High, Nifty Holds 11,700; IT Stocks Fall

Stock Market: Fourteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Telecom Index's 1.4 per cent gain.

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Sensex Off Day's High, Nifty Holds 11,700; IT Stocks Fall

S&P BSE Information Technology Index was top loser, down 1.4 per cent.


Domestic equity benchmarks (share markets) came off intraday high levels as selling pressure in information technology stocks deepened with Tata Consultancy Services, Infosys and HCL Technologies being the top drags on the S&P BSE Sensex. However, buying in HDFC, Reliance Industries, HDFC Bank, ITC and Axis Bank helped Sensex and Nifty stay in the positive territory.

As of 12:04 pm, the Sensex traded 0.28 per cent or 108 points at 39,090 and the NSE Nifty 50 index 0.19 per cent or 22 points at 11,747.

Fourteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Telecom Index's 1.4 per cent gain. Realty, power, bankex and auto indexes also rose between 0.7 and 1 per cent each.

On the flipside, S&P BSE Information Technology Index was top loser, down 1.4 per cent.

Broader markets were trading on a subdued note as the S&P BSE MidCap and S&P BSE SmallCap Indexes were little changed.

Tata Motors was top gainer in the Nifty 50 basket of shares, 2.17 per cent at Rs 212. NTPC, Bharti Infratel, Kotak Mahindra Bank, Bharat Petroleum, Yes Bank, Hero MotoCorp and ONGC were also among the gainers.

On the other hand, TCS, HCL Technologies, Tech Mahindra, Britannia Industries, Wipro, Hindustan Unilever, Wipro, Zee Entertainment and Dr Reddy's Labs were among the laggards.



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