Sensex slips into red; IT stocks crash
Benchmark Sensex succumbed to fag-end profit booking to close lower at 32,274 today as investors dialled down on fresh bets due to absence of fresh triggers and muted earnings by some corporates. Software exporters witnessed selling pressure as weakness in the dollar against the rupee, which traded at two-year highs, stoked fears of a revenue hit, brokers said. Infosys was the worst performer in the Sensex pack, plunging 1.75%, while TCS and Wipro also closed with losses.
The 30-share BSE Sensex commenced higher at 32,377.80 points and advanced to touch the day’s high of 32,396.14 in early trade on foreign fund inflows and positive global cues. However, it gave up the gains towards the end of the session to finish at 32,273.67, a loss of 51.74 points, or 0.16%. It had gained 87.53 points in the previous session. The 50-share NSE Nifty settled down by 9 points, or 0.09%, at 10,057.40. Intra-day, it hovered between 10,088.10 and 10,046.35. The broader markets outperformed the key indices. The BSE mid-cap index hit a lifetime of 15,600.27, up 1.06%, while the small-cap index gained 1.15% to 16,109.21. “Market went into consolidation as high valuation and lack of fresh triggers influenced investors to stay on …read more
