Nifty IT index ends 2.06% up. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) HCL TECHNOLOGIES 1077.60 1049.15 28.45 2.71 TECH MAHINDRA 764.55 745.65 18.90 2.53 TCS 2099.75 2052.90 46.85 2.28 INFOSYS 732.30 717.13 15.17 2.12 MINDTREE 1121.10 1100.55 20.55 1.87
The S&P BSE Sensex ended at 38,158, down 155 points while the broader Nifty50 index settled at 11,520, down 62 points.
The Indian currency slipped to a new record low of 71.50 per dollar in intra-day trade. It has declined 3.3 per cent in August and over 10 per cent so far in year-to-date, to emerge as the worst-performing currency in Asia.
In individual stocks, banking shares such as HDFC Bank, State Bank of India (SBI), IndusInd Bank and ICICI Bank fell in the range of 1 per cent to 3.3 per cent.
Among sectoral indices, the Nifty IT index rose around 2 per cent led by a rise in Infosys, HCL Technologies, and Tata Consultancy Services (TCS).
Shares of Tata Consultancy Services (TCS) hit a new high of Rs 2,099 per share in intra-day trade, rising 2% on the National Stock Exchange (NSE), trading close to their share buyback price of Rs 2,100 per share. The market-capitalisation hit the Rs 8-trillion mark on Tuesday, the third time it has achieved this feat ever in intra-day. READ MORE
FPIs ring alarm bells on Sebi ownership notice; Market regulator calls it "preposterous"
The sentiment was also affected after the foreign portfolio investors (FPIs) upped their ante against a circular issued by the market regulator, Securities and Exchange Board of India (Sebi), on beneficial ownership of offshore funds.
On April 10, SEBI modified the KYC norms applicable to Foreign Portfolio Investors. NRIs, OIC s and PIOs are now prevented from being "Beneficial Owners", or "in control", via the FPI route.