Nifty IT sheds over 200 points amid volatile trade; Tech Mahindra, TCS among major losers

LTI, HCL Tech, and Wipro were also under pressure to drag the sector.

Jul 27, 2021 01:07 IST India Infoline News Service

After hitting new peaks on Monday, IT stocks were under pressure on Tuesday amid volatile markets. The Index shed with Larsen & Turbo InfotechTech Mahindra, TCS, HCL Tech, and Wipro facing the heat on Tuesday. 

Technology stocks remain in focus globally. In the Indian markets, the Nifty IT index clocked a fresh lifetime high on Monday before correcting. Globally, Technology stocks await major earnings from heavyweights in US later this week.

At around 1.10 PM, Nifty IT was trading at 29,730.15 per piece down 210.25 points or 0.70% touching a high of 30,048.35 and low of 29,724.00 during intraday trade on Tuesday.

BSE Sensex was trading at 52,472.49 down 379.78 points or 0.72% and Nifty50 at 15,714.50 down 109.95 points or 0.69%.

LTI shed 1.4% at Rs4,291.55 per piece to go down to bottom in the afternoon volatile trade. Tech Mahindra was under pressure on consistent basis at Rs1,107.15 per piece, down 1.2%. Wipro was also nearly 1% down at Rs584.80 per piece. HCL Tech shed nearly 0.9% at Rs985.65 per piece while TCS was nearly 0.8% on the downside at Rs3,172.70 per piece. 

Coforge, Mindtree and Oracle were also down between 0.55% to 0.32% while Infosys and Mphasis pared morning gains to trade marginally lower. The Nifty IT Index had all the ten declines. 

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