Market Now: IT stocks fall; MindTree, Tech Mahindra among top losers

NEW DELHI: IT stocks MindTree (down 1.49 per cent), Tech Mahindra (down 1.23 per cent), Infosys (down 0.93 per cent), Infibeam Incorporation (down 0.89 per cent), Wipro (down 0.47 per cent), Tata Elxsi (down 0.30 per cent) and Oracle Financial Services Software (down 0.18 per cent) were trading down in afternoon trade on Monday.

IT stocks developed cold feet after the rupee opened 3 paise up on Monday at 64.98 against dollar on account of selling of American currency by banks and exporters.

The Nifty IT index was trading 0.35 per cent down at 11,110 around 12:40 pm (IST).

However, shares of KPIT Technologies (up 0.39 per cent), HCL Technologies (up 0.31 per cent) and Tata Consultancy Services (up 0.28 per cent) were trading up around that time.

Benchmark NSE Nifty50 index was 4 points down at 10,280, while the BSE Sensex was 14 points down at 33,329.

Among the 51 stocks in the Nifty50 index, 25 were trading in the green, while 24 were in the red.

Shares of Tata Power, Idea Cellular, DLF, Punjab National Bank, Bank of Baroda, State Bank of India, SAIL, ICICI Bank, YES Bank, Ashok Leyland, PFC and ITC were among the most traded securities on the National Stock Exchange.

GAIL, YES Bank, Coal India, Bharti Infratel, IndusInd Bank and Bajaj Auto were among the top gainers in the Nifty50 index.

However, Ambuja Cements, ICICI Bank, UltraTech Cement, Cipla, Tech Mahindra and State Bank of India were among the top losers in the Nifty pack of stocks.