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Market Now: HCL Tech, TCS keep Nifty IT index up

NEW DELHI: Gains in shares of HCL Technologies (up 1.33 per ..

NEW DELHI: Gains in shares of HCL Technologies (up 1.33 per cent), Tata Consultancy Services (up 1.32 per cent), Tech Mahindra (up 0.70 per cent) and Infosys (up 0.14 per cent) were keeping the Nifty IT index up in Friday's trade.

The lone sectoral gainer Nifty IT index was trading 0.44 per cent up at 13,022 around 11 am (IST).

However, shares of KPIT Technologies (down 3.38 per cent), Infibeam Incorporation (down 2.17 per cent), MindTree (down 1.45 per cent), Tata Elxsi (down 1.40 per cent), Wipro (down 1.11 per cent) and Oracle Financial Services Software (down 0.45 per cent) were down in the IT index around that time.

Benchmark stock indices cracked over 500 points in Friday's trade, mirroring a sharp fall in Asian markets amid concerns over rising bond yields in Asia this week.

There was already some disappointment from the Budget due to reintroduction of long-term capital gains tax.

Fears of fiscal slippage hurt the domestic currency, which dampened mood further.

Benchmark NSE Nifty50 index was down 154 points at 10,862, while the BSE Sensex was 495 points down at 35,411.

Among the 50 stocks in the Nifty50 index, 8 were trading in the green, while 42 were in the red.

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