INSUBCONTINENT EXCLUSIVE:
NEW DELHI: IT stocks were reeling under selling pressure during afternoon trade on Thursday.
The Nifty IT index was trading 1.24 per cent
down at 14,450 around 02:25 pm with all components in the red
Mindtree (down 8.91 per cent) was the top loser in the IT index.
The IT firm posted 13.17 per cent drop in net profit sequentially at Rs
158.20 crore for the quarter to June
The figure stood at Rs 182.20 crore in the March quarter
Tata Elxsi (down 3.05 per cent), KPIT Technologies (down 2.67 per cent), Oracle Financial Services Software (down 1.55 per cent) and Tata
Consultancy Services (down 1.27 per cent) too declined significantly.
HCL Technologies (down 0.87 per cent), Tech Mahindra (down 0.75 per
cent), Wipro (down 0.65 per cent), Infibeam Incorporation (down 0.63 per cent) and Infosys (down 0.59 per cent) too were in the
red.
Benchmark NSE Nifty50 index was down 5 points at 10,975, while the BSE Sensex was up 25 points at 36,398.
Among the 50 stocks in the
Nifty index, 24 were trading in the green, while 26 were in the red
Titan Company, YES Bank, Bharti Airtel, Vedanta and Indiabulls Housing Finance were among the top gainers in the Nifty index
Hindalco Industries, Bharti Infratel, Kotak Mahindra Bank, Cipla and Larsen Toubro were among the top losers in the index.
