Markets

Stock market update: IT stocks down; TCS, Infosys, HCL Tech fall up to 1%

NEW DELHI: Most IT stocks were trading in the negative territory during afternoon trade on Tuesday.

The Nifty IT index was trading 0.91 per cent down at 13,472 around 12:55 pm with Infibeam Incorporation (down 6.27 per cent) and KPIT Technologies (down 5.24 per cent) as the top losers.

Shares of Tata Elxsi (down 2.78 per cent) and Mindtree (down 2.17 per cent) also fell significantly.

Heavyweights Tata Consultancy Services (TCS), Infosys and HCL Technologies declined up to 1 per cent.

Shares of Oracle Financial Services Software (down 0.78 per cent) were also under pressure, while Tech Mahindra (up 0.18 per cent) was slightly up.

Wipro was almost flat around that time.

Benchmark NSE Nifty50 index was down 36 points at 10,593, while the BSE Sensex was 84 points down at 34,928.

Among the 50 stocks in the Nifty index, 15 were trading in the green, while 35 were in the red.

Bharti Airtel plunged over 3 per cent in the Nifty index, trading as the top loser of the pack.

Bharti Airtel is in advanced talks with US telecom major Verizon for a broad partnership around Internet of Things (IoT).

Zee Entertainment Enterprises, Indiabulls Housing Finance and Power Grid Corporation of India also featured among the top Nifty losers.

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