Market Now: Nifty IT lone index loser; TCS slips over 2%

NEW DELHI: Bucking positive market stance, Nifty IT index erased the gains of the previous session to emerge as the solitary sectoral loser on NSE in Friday's trade.

Nifty IT index was 58 points, or 0.55 per cent down at 10,500 around 12 pm (IST), with shares of Tata Consultancy Services (down 2.02 per cent), Wipro (down 0.74 per cent), Just Dial (down 0.73 per cent) and HCL Technologies (down 0.20 per cent) as the losers in the index.

On the contrary, KPIT Technologies (up 2.49 per cent), MindTree (up 0.76 per cent), Tata Elxsi (up 0.63 per cent) and Infosys (up 0.29 per cent) were the gainers in the index.

Benchmark indices registered good gains on continued buying by domestic institutional investors despite weak economic growth data for the June quarter.

Investors were seen creating new positions following the beginning of the September futures and options (F&O) series which boosted markets' sentiment.

Pharma stocks were hogging the limelight, with Dr Reddy's (up 7.87 per cent) surging as much as 8 per cent during the trade.

Aurobindo Pharma, Lupin and Cadila were the other pharma gainers.

Benchmark Nifty50 index was 35 points up at 9,953, while the 30-share Sensex was 115 points up at 31,845 around 12 pm (IST).

In the Nifty50 pack, 36 stocks were trading in green, while 15 stocks were in red.

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