Sensex, Nifty come off day's high; IT stocks correct

The key equity indices came off the day's high in mid afternoon trade. The Nifty hovered near the 17,400 mark. IT shares witnessed profit selling after advancing in the past three sessions.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 100.66 points or 0.17% to 58,397.57. The Nifty 50 index advanced 18.70 points or 0.11% to 17,396.50.

The broader market suffered minor losses. The S&P BSE Mid-Cap index fell 0.09%. The S&P BSE Small-Cap index lost 0.29%.

Sellers outpaced buyers. On the BSE, 1329 shares rose and 1810 shares fell. A total of 147 shares were unchanged.

Among the Nifty MidSmallCap 400 stocks, Dish TV (up 14.91%), Vodafone Idea (up 11.03%), IRCTC (up 9.16%), Voltas (up 6.92%) and Sterling and Wilson Solar (up 6.57%) advanced.

Concurrently, Ujjivan Financial Services (down 10%), Prestige Estates Projects (down 5.76%), Sobha (down 5.45%), Adani Total Gas (down 5%) and Triveni Turbine (down 3.45%) declined.

Buzzing Index:

The Nifty IT index shed 0.77% to 35,141.80, amid some bit of profit booking. The index advanced 3.82% in the past three sessions.

Mphasis (down 1.18%), Wipro (down 1.16%), Oracle Financial (down 1.01%), Infosys (down 0.99%), Tech Mahindra (down 0.94%), Coforge (down 0.76%), HCL Tech (down 0.62%), MindTree (down 0.57%), TCS (down 0.55%) and Larsen & Toubro Infotech (down 0.18%) declined.

Stocks in Spotlight:

Neogen Chemicals jumped 13.20% to Rs 1100.05. On the BSE, over 0.64 lakh shares of the company were traded in the counter so far as against an average trading volume of 5706 shares in the past two weeks.

In an exchange filing made after market hours yesterday, the company said that the Phase I commercial production/ operations for manufacturing of organic chemicals has commenced at full scale successfully on 6 September 2021 at the company's manufacturing facility situated at Dahej SEZ in Gujarat.

Dr. Reddy's shed 0.10% to Rs 4910. The drug major on Tuesday announced the launch of minoxidil for women following first-ever approval in India for the treatment of female pattern hair loss. It will sell these products under the brand names Mintop and Mintop Eva respectively.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 73.4250 from its previous closing of 73.1050.

MCX Gold futures for 5 October 2021 settlement lost 0.13% to Rs 47,365.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.26% at 92.27.

In the commodities market, Brent crude for October 2021 settlement fell 5 cents or 0.07% to $72.56 a barrel.

The yield on 10-year benchmark federal paper fell to 6.171% from its previous close of 6.173%.

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