INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Losses in shares of Tata Consultancy Services (TCS) (down 3.86 per cent), Infosys (down 2.04 per cent), HCL Technologies (down
1.25 per cent) and Wipro (down 0.74 per cent) dragged Nifty IT index down in Wednesday's session
The IT heavyweights fell even as rupee touched its record low against the US dollar today
The Indian rupee Wednesday crashed below the 73-mark against the dollar for the first time ever on strong demand for the American currency
from importers amid rising global oil prices and unabated capital outflows.
The Nifty IT index was trading 1.55 per cent down at 15,962
However, shares of Infibeam Avenues (up 15.25 per cent) jumped over 15 per cent.
In a voluntary clarification to the BSE on Friday,
lnfibeam Avenues said that all the material information "that have a bearing on the operation/ performance of the company which include all
price sensitive information have always been disclosed within the stipulated time"
At the annual general meeting on Saturday, Managing Director Vishal Mehta said the management and the entire team are working very hard
towards the company's growth, according to PTI
NIIT Technologies (up 5.24 per cent), Tata Elxsi (up 3.77 per cent), MindTree (up 1.24 per cent), Oracle Financial Services Software (up
0.84 per cent) and Tech Mahindra (up 0.09 per cent) too were in the positive zone at that time
Sustained capital outflow, surging crude oil prices and rupee's poor health weighed on market sentiment.
Moreover, investors remained on
the sidelines even as the RBI's monetary policy committee (MPC) meet began to decide on key rates
Benchmark BSE Sensex was 203 points down at 36,323, while the NSE Nifty50 index was down 55 points at 10,953
Among the 50 stocks in the Nifty index, 22 were trading in the green, while 28 were in the red
YES Bank, Indiabulls Housing Finance, Bajaj Finance, Vedanta and HPCL were among top Nifty gainers.
Bharti Infratel, Mahindra Mahindra,
Eicher Motors, Tata Consultancy Services and Grasim Industries were among the top losers in the Nifty index.
