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Markets continue trading lower; Midcaps, smallcaps underperform

Nifty IT index gained 2.4% on weak rupee led by TCS, Wipro

SI Reporter  |  New Delhi 

Market, NSE, BSE, Sensex, Nifty
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Benchmark indices continued trading lower in the afternoon trade after hitting record high in the precious session amid selloff as political turmoil in White House spooked investors, dragged the global
The dollar was stuck at six-month lows, while Wall Street posted the biggest intra-day slide since September as the allegations of Trump’s interference with the federal investigation have raised uncertainty over his presidency.

At 2:26 pm, the S&P BSE was trading at 30,533, down 124 points, while the broader Nifty50 was ruling at 9,450, down 75 points.
In the previous session, the 30-share gained as much as 110 points to hit its fresh record high of 30,692, while the 50-share added 20 points to notch its all-time high of 9,532.
The broader underperformed benchmark indices with the S&P BSE index and S&P BSE down 1.4% and 1.1% respectively.

TCS, Wipro, Lupin and Infosys were the top gainers while M&M, Tata Motors, L&T and HUL were the biggest laggards.
Shares of information technology (IT) companies were trading higher in otherwise weak market with the IT index gaining 2.4% on weak rupee. Among individual stocks, Tata Consultancy Services (TCS) rallied 5% to Rs 2,572, its highest level since March 15, 2017 on NSE. Wipro, Tech Mahindra, Infosys and HCL Technologies were up in the range of 1% to 3%.
The IT index was the only gainer among major indices, which were all trading in the red.        
Among losers, fell as much as 2.66% after an arm of Malaysian sovereign fund Khazanah looked to exit the healthcare provider by selling its remaining 4.78% stake.
United Breweries, brewer of Kingfisher beer, dropped as much as 4.8% after reporting an 87% fall in profit for the March-quarter.
IRB InvIT Fund, the first infrastructure trust to list on the exchanges, made its debut on the exchanges on Thursday at a price of Rs 102.50 per share. It was trading at flat, 0.2% higher with respect to issue price.