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Nifty slips after hitting 9,700 for the first time; Sensex down 100 points

Shares of IT companies bucked the trend with Nifty IT and S&P BSE IT index gaining more than 2%

SI Reporter  |  New Delhi 

Market, NSE, BSE, Sensex, Nifty
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edged down in the afternoon deals, after hitting new record highs at open with scaling 9,700 for the first time, as investors stayed wary before announces interest rate decision tomorrow. Sentiment was also subdued after Asian shares fell amid a slew of risk factors, including escalating tensions in the Middle East, the coming testimony of the former FBI director, British elections and a European Central Bank meeting. Nifty50 rose as much as 34 points to hit its new high of 9,709. also followed suit, gaining as much as 121 points to scale fresh high of 31,430 in the early morning deals. At 2:44 pm, the S&P BSE was trading at 31,205, down 104 points, while the broader Nifty50 was ruling at 9,640, down 35 points. In the broader market, the S&P BSE and the S&P BSE indices erased morning gains to shed 0.8% and 1%, respectively. shares fell as much as 2.6% in their biggest intraday percentage drop in over a month and were among the top losers on BSE fell as much as 6.3% in its debut due to a lack of investor familiarity with infrastructure investment fund. Shares of Industries hit its lower circuit limit of 5% for the 12th straight session, falling 67% in 12 days to Rs 33.25 as investors continued selling the stock after two lenders declared its account as non-performing assets (NPA). Shares of extended losses for the second straight session on Tuesday after the Central Bureau of Investigation (CBI) on Monday raided the residence of senior journalist and co-founder of listed broadcaster Prannoy Roy and other premises linked to the organisation. But among gainers, State Bank of India rose as much as 2% to its highest in two weeks after a share sale to institutional investors to raise as much as $2.33 billion was fully covered within hours of the launch on Monday. Shares of information technology (IT) companies were in focus with the IT and S&P BSE IT index gaining more than 2% in an otherwise lower market.

Tata Consultancy Services (TCS), Infosys, HCL Technologies, Tata Elxsi, Hexaware Technologies and Tech Mahindra were up in the range of 2% to 6%. Enterprises surged as much as 6.9% to its highest in one week, after the company gave final investment nod for the Carmichael coal mine and railway in Australia.

First Published: Tue, June 06 2017. 14:44 IST