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Market Now: Nifty IT falls over 1% on the poor show by index heavyweights

NEW DELHI: Nifty IT index was in the deep red on account of ..

NEW DELHI: Nifty IT index was in the deep red on account of losses in heavyweights including HCL Technologies (down 4.06 per cent) during afternoon trade on Wednesday.

The Nifty IT index was trading 1.47 per cent down at 13,781 around 2 pm (IST).

Other components of the index, including Mindtree (down 2.57 per cent), Tech Mahindra (down 1.51 per cent), Tata Elxsi (down 1.46 per cent), Wipro (down 1.17 per cent), Tata Consultancy Services (down 0.91 per cent) and Infosys (down 0.35 per cent) were also trading in the negative territory around that time.

However, equity benchmarks were up, backed by buying in select private bank, FMCG, financial and auto stocks.

The NSE Nifty50 index was up 11 points at 10,750m while the BSE Sensex was up 105 points at 35,266.

Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red.

Kotak Mahindra Bank (up 5.48 per cent), Zee Entertainment Enterprises (up 3.02 per cent), ITC (up 2.26 per cent), Asian Paints (up 2.11 per cent) and HDFC Bank (up 1.55 per cent) were the top gainers in the Nifty index.

On the other hand, Vedanta (down 4.51 per cent) and Hindalco Industries (down 3.16 per cent) were among the top losers in the Nifty index.

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