Markets erase major gains seen in last two sessions, IT stocks stellar performance
Benchmark indices NSE Nifty hit its record high of 9709 in opening trade and closed at 9637 levels, lower by 37 points or 0.3%, whereas the BSE Sensex closed at 31190 levels, higher by 118 points or 0.3%.
While, BSE Mid-cap Index closed down 0.6% at 14732 whereas, BSE Small-cap Index closed down by 0.6% at 15310.
There were 527 advances, 1107 declines and 320 unchanged stocks on NSE, reflecting fairly bearish undertone floating in the market.
TCS was the top Nifty gainer whereas, Tata Motors was the top Nifty loser.
IT stocks were on a roll on Dalal Street, mainly led by gains of heavyweights like TCS, Infosys and HCL Tech. These stocks jointly contributed to the BSE IT gains and pushed it up by 2.6%.
India Grid InvIT listed on the bourses at Rs 99.02 per share at a discount of 1.6%. The IPO of India Grid InvIT to raise Rs 2,250 crore was subscribed 65% on the last day of the offer. The stock closed at Rs 98.50 lower by 1.5%.
Tata Motors declined nearly 4% intraday basis after reporting subdued UK sales growth by Jaguar Land Rover (JLR), closing at Rs 461 lower by 3.4%.
Everest Organics was locked in its upper circuit of Rs 108.15 per share higher by 5% intraday after a successful check of its facility by the US drug regulator. The stock closed at Rs 108 higher by 5%.
NDTV Limited extended its losses and was trading lower by 3% as the CBI registered a case against its founder Prannoy Roy, his wife Radhika Roy, a private company and others for causing an alleged loss to a bank. The stock closed at Rs 58 higher lower by 3.2%.
Tata Elxsi surged 5.11% extending its Monday's gains after the company announced that its driverless car platform is selected by leading original equipment manufacturer. The stock closed at Rs 1540 higher 3.2%.
Videocon Industries was locked in its lower circuit for the 12th consecutive trading sessions. The stock has lost around 68% on YTD basis, closing at Rs 33 higher by 4.8%.
Titan Company was trading down by over 4%, blurring some of its Monday’s gains. Titan had reached a high of 20% closing higher by 17% on the NSE on Monday. The stock closed at Rs 528 down by 4.3%.
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