Share market update: IT stocks fall up to 8%; HCL Tech, Infosys, TCS among top drag

NEW DELHI: IT stocks fell in line with market sentiment on Thursday even as rupee touched its yet another record low of 74.48 against the US dollar.

The Nifty IT index was trading 3.06 per cent down at 14,680 around 11:20 am with all components in the red.

Infibeam Avenues (down 8.55 per cent) and NIIT Technologies (down 7.93 per cent) were the top losers in the IT index.


HCL Technologies (down 3.94 per cent), Infosys (down 3.40 per cent), Tata Elxsi (down 3.30 per cent) and Tata Consultancy Services (TCS) (down 2.65 per cent) also declined significantly.

Mindtree (down 2.44 per cent), Wipro (down 2.14 per cent), Tech Mahindra (down 2.04 per cent) and Oracle Financial Services Software (down 1.17 per cent) declined in that order.

Benchmark NSE Nifty50 index was down 259 points at 10,201, while the BSE Sensex was 838 points down at 33,923.

Among the 50 stocks in the Nifty index, 7 were trading in the green, while 43 were in the red.

HPCL, Zee Entertainment, BPCL, Indian Oil Corporation and ONGC were among the gainers in the Nifty index.

Indiabulls Housing Finance, State Bank of India, Bajaj Finserv, Hindalco Industries and Tata Steel were among the top losers in the Nifty50 pack.