Markets trade lower led by Nifty IT stocks

TCS, Infosys, Reliance Industries, and Axis Bank were among the top losers on the Sensex pack, while HDFC twins, ICICI Bank, HUL, and Bajaj Finance were among the top gainers.

Dec 10, 2019 03:12 IST India Infoline News Service

Equity benchmark indices fluctuated between gains and losses in opening trade on Tuesday as investors awaited the Federal Reserve's latest interest rate decision, new ECB boss Christine Lagarde's first policy meeting, and UK general election developments.

The Sensex was down 7.29 points at 40,459, and the Nifty was also down by 11 points at 11,926. India VIX was up by 1.50% at 14.81.

TCS, Infosys, Reliance Industries, and Axis Bank were among the top losers on the Sensex pack, while HDFC twins, ICICI Bank, HUL and Bajaj Finance were among the top gainers.

The IT index was down nearly 1% led by losses in Just Dial, Mindtree, TCS and Tech Mahindra.

On the economy front, Chief Economic Advisor KV Subramanian said that the current slowdown in the Indian economy is more cyclical than structural and the government has a well-thought-out agenda for reforms.

The Indian rupee opened higher at 70.96 per dollar vs. its previous close of 71.05/$.

The most active stocks on the NSE were Yes Bank, HDFC, Reliance and SBI.

Further, foreign institutional investors (FIIs) bought shares worth Rs459.22cr, while domestic institutional investors (DIIs) bought shares of worth Rs74.93cr in the Indian equity market on December 9, as per NSE data.

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