The benchmark indices, Nifty50 and Sensex were trading lower as sharp decline in IT stocks weighed on market sentiment. The weakness followed Accenture’s muted revenue guidance, which raised concerns over the growth outlook for the technology sector.
At 9:40 hours, the 30-share benchmark index was trading at 76682.41 down by -727.57 points or by -0.94 % and then NSE Nifty was at 23955.55 down by -212.45 points or by -0.88 %.
Sensex touched intraday high of 76858.8 and intraday low of 76578.08 The NSE Nifty touched intraday high of 23998.8 and intraday low of 23939.8
The top gainers of the BSE Sensex pack were NTPC Ltd. (Rs. 366.20,+1.16%), Bharti Airtel Ltd. (Rs. 1885.90,+0.59%), Reliance Industries Ltd. (Rs. 1333.80,+0.46%), Titan Company Ltd. (Rs. 4405.00,+0.43%), Power Grid Corporation of India Ltd. (Rs. 289.80,+0.42%), among others.
The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 1037.40,-7.97%), Tata Consultancy Services Ltd. (Rs. 2077.25,-5.76%), Mahindra & Mahindra Ltd. (Rs. 1374.00,-5.02%), HCL Technologies Ltd. (Rs. 1104.80,-4.89%), HDFC Bank Ltd. (Rs. 782.35,-2.03%), among others.
Power index was at 8248.19 up by 42.76 points or by 0.52%. Bharat Heavy Electricals Ltd. (Rs. 412.20,+1.54%), NTPC Ltd. (Rs. 366.20,+1.16%), GE Vernova T&D India Ltd. (Rs. 5304.00,+1.10%), Adani Power Ltd. (Rs. 233.30,+1.04%), Adani Green Energy Ltd. (Rs. 1517.00,+0.68%),.
_IT index was at 26406.77 down by -1415.09 points or by -5.09%. Infosys Ltd. (Rs. 1037.40,-7.97%), Mphasis Ltd. (Rs. 2200.00,-5.95%), Tata Consultancy Services Ltd. (Rs. 2077.25,-5.76%), Mahindra & Mahindra Ltd. (Rs. 1374.00,-5.02%), HCL Technologies Ltd. (Rs. 1104.80,-4.89%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3518 , shares advanced were 1613 while 1720 shares declined and 185 were unchanged.