Share market update: Nifty IT lone sectoral gainer; Wipro, Infosys hold up
NEW DELHI: The Nifty IT index was the solitary gainer among the sectoral indices on NSE around 10:50 am on Friday owing to gains in heavyweights, including Wipro (up 1.68 per cent) and Infosys (up 1.57 per cent).
The Nifty IT index was trading 0.30 per cent up at 14,559 at that time.
Shares of KPIT Technologies (up 0.83 per cent), Tata Consultancy Services (up 0.63 per cent) and Oracle Financial Services Software (up 0.54 per cent) were also in the green.
However, HCL Technologies (down 2.36 per cent), Infibeam Incorporation (down 0.54 per cent) and Mindtree (down 0.51 per cent) were under pressure, while shares of Tech Mahindra (up 0.06 per cent) and Tata Elxsi (down 0.02 per cent) were nearly flat.
Market erased the gains of the opening session on fresh selling in bank, oil, auto and FMCG stocks.
Weak macro triggers turned investors cautious even as global cues were firm.
On Thursday, government data showed that the retail inflation accelerated to a five-month high of 5 per cent in June compared to 4.87 per cent in May, while industrial production moderated to 3.2 per cent in May compared to 4.9 per cent in April.
Benchmark NSE Nifty50 index was down 10 points at 11,013, while the BSE Sensex was up 27 points at 36,575.
Among the 50 stocks in the Nifty index, 15 were trading in the green, while 35 were in the red.
Infosys, Wipro, Reliance Industries, Kotak Mahindra Bank and Coal India were among the top gainers in the Nifty index.
On the other hand, UPL, Bharti Infratel, HCL Technologies, Axis Bank and HPCL were among the top losers in the Nifty pack of stocks.