Sensex losses spill over, IT stocks hurt

The Sensex fell for the sixth day on Wednesday, this time about 66 points, to end at 26,242, dragged down by major information technology (IT) stocks such as Infosys and TCS amid mixed global cues.

Infosys fell 0.66 per cent and TCS 1.07 per cent.

The index, which had lost 389.84 points in the previous five sessions, dropped another 65.60 points, or 0.25 per cent, to end at 26,242.38 — its lowest closing since December 7. It shuttled between 26,396.00 and 26,213.51.

The 50-share NSE Nifty edged down by 21.10 points, or 0.26 per cent, 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 holiday year ending.

“Though firm Asian markets lent support in the early hours, traders chose to cash in, quickly erasing the gains...

Markets would now look forward to tomorrow's GST panel meet for signs of emerging consensus and the likelihood of further delays in rollout,” said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.