Sensex closes down 66 points, IT stocks fall

Sensex, which lost 389.84 points in the previous five session, dropped another 65.60 points, or 0.25% , to end at 26,242.38, its lowest closing since 7 December


BSE Sensex closed lower on Wednesday. Photo: Mint
BSE Sensex closed lower on Wednesday. Photo: Mint

Mumbai: Sensex fell for the sixth day on Wednesday, this time about 66 points, to end at nearly two-week low of 26,242, dragged down by major IT stocks such as Infosys and TCS amid mixed global cues. Infosys fell 0.66% and TCS 1.07% . The index, which had lost 389.84 points in the previous five session, dropped another 65.60 points, or 0.25% , to end at 26,242.38, its lowest closing since 7 December.

It shuttled between 26,396.00 and 26,213.51 on Wednesday. The 50-share NSE Nifty also declined by 21.10 points, or 0.26%, to end at 8,061.30, after moving between 8,112.55 and 8,053.25. The volume remained low in view of the approaching year-end holidays.

FMCG, information technology, technology, capital goods and health care sectors led the fall by up to 0.95%. However, buying interest was witnessed in select sectors like realty, consumer durables, power and PSU. Shares of Sun Pharma suffered the most by plunging 2.25% , followed by ITC that fell by 1.44%.

Other losers were TCS, Wipro, Tata Motors, Axis Bank, L&T Hero MotoCorp, Infosys, Hindustan Unilever, GAIL and Dr Reddy’s, while Maruti Suzuki, M&M, Lupin, NTPC, ONGC, Powergrid, ICICI Bank and Adani Ports rose, which minimised the fall.

Overseas, Asian stocks ended largely mixed. Japan Nikkei closed lower by 0.26% on Wednesday, slipping off a one-year high hit the previous day as investors shuffled their positions before the holiday season. However, Hong Kong’s Hang Seng rose 0.37% and Shanghai Composite Index was up 1.11%.

Europe opened lower in early trade, with Frankfurt falling 0.20% and Paris 0.40%. London’s FTSE was down by 0.20% .

As many as 17 scrips out of 30-share Sensex pack ended lower. Sector-wise, FMCG index was down 0.95%, followed by IT 0.75% , technology 0.74% and capital goods 0.40%.

Broader market saw a mixed trend, with mid-cap index falling 0.16%. Small-cap edged up 0.03%. Foreign funds sold shares worth Rs685.93 crore on Tuesday, as per provisional data.

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