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Indices near day's low; IT stocks decline

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Key indices were trading with minor losses near day's low in morning trade. Sentiment was affected by negative global cues. IT stocks were under pressure. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 73.38 points or 0.18% at 40,414.05. The Nifty 50 index was down 21.2 points or 0.18% at 11,916.30.

In the broader market, the S&P BSE Mid-Cap index was down 0.23% while the S&P BSE Small-Cap index was down 0.08%.

The market breadth, indicating the overall health of the market, turned negative. On the BSE, 788 shares rose and 975 shares fell. A total of 83 shares were unchanged. In Nifty 50 index, 21 stocks advanced while 29 stocks declined.

Buzzing Index:

IT stocks edged lower as the Indian rupee appreciated. The Nifty IT index was down 0.88% at 15,023.45. The index has lost 2.24% in three trading session.

MindTree (down 1.69%), Mphasis (down 1.58%), Persistent Systems (down 1.37%), TCS (down 1.29%), Tech Mahindra (down 1.24%), Wipro (down 0.92%), Zensar Technologies (down 0.78%), HCL Technologies (down 0.62%) and Oracle Financial Services Software (down 0.2%) were top losers.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 70.9250, compared with its close of 71.0450 during the previous trading session

Stocks in Spotlight:

Yes Bank was down 0.8% ahead of its board meeting later today. The stock is banned from NSE Futures & Options segment for today after the security crossed the 95% market wide position limit.

Jindal Steel & Power (JSPL) rose 1.5% to Rs 145.05 after the company's promoter, OPJ Trading, released pledge on 25 lakh shares or 0.25% equity, on 3 December 2019. OPJ Trading held 18.4% stake in JSPL as of 30 September 2019. Currently, the promoter's 17.49 crore shares, or 17.15% equity, are pledged.

Aster DM Healthcare was up 1.08% to Rs 155 after the company announced the 80% acquisition of Premium Healthcare. The acquisition will benefit the company with existing medicare brand of clinics. The cost of acquisition is AED 8.69 million.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 10 2019. 10:26 IST
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