IT stocks correct on profit booking

Shares of eight IT companies were down by 0.36% to 2.67% at 12:09 IST on BSE amid profit booking after five-day rising streak.

TCS (down 1.91%), Infosys (down 1.05%), HCL Technologies (down 2.09%), Oracle Financial Services Software (down 0.56%), Tech Mahindra (down 0.36%), MindTree (down 1.14%), Hexaware Technologies (down 2.67%) and Mphasis (down 0.69%) declined.

Wipro rose 1.24% to Rs 294.90 after the company fixed 21 June 2019, as the record date for the proposed buyback of shares. Wipro plans to buyback up to 32.30 crore fully paid-up equity shares of Rs 2 each, representing up to 5.35% of the total paid-up equity share capital of the company, at a price of Rs 325 per share, for an aggregate amount of up to Rs 10500 crore. The announcement was made after market hours yesterday, 3 June 2019.

 

The S&P BSE Sensex was down 167.97 points or 0.42% at 40,099.65. The S&P BSE IT index was down 1.19% to 15,785, underperforming the Sensex.

The BSE IT index jumped 5.71% in past five trading sessions to 15,975.31 on 3 June 2019, from its recent low of 15,111.84 on 27 May 2019.

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