Nifty hovers around 11,900; IT index trades lower

Mphasis and Mindtree surged 3%, HCL Tech, Wipro and LTI are also in the positive territory.

Oct 22, 2020 12:10 IST India Infoline News Service

Benchmark indices snapped four day’s winning streak amid selling pressure seen in pharma, auto and IT stocks.

The Nifty IT index slipped over 140 points or 0.65% at 21,436.70 levels. The IT index opened at 21,480.70 and hit a low 21,367.55 on Thursday morning trade.

Among Nifty IT constituents, only three stocks were in the green while six stocks declined and one remain unchanged.

Info Edge slipped over 2.65%, Coforge, Tech Mahindra and Infosys tumbled 1% each while, TCS is down marginally.

Shares of Coforge in focus today ahead of Q2 numbers.

On the flip side, Mphasis and Mindtree surged 3%, HCL Tech, Wipro and LTI are also in the positive territory.

Meanwhile, the BSE Sensex is trading at 40,594.85 down 112.46 points or 0.28% and the Nifty50 is currently trading at 11,905.50 down 32.15 points or 0.27%.

Shares of Newgen Software Technologies gained after the company’s quarterly net profit was at Rs27.52cr in September 2020 up 745.77% from Rs3.25cr in September 2019.

Related Story