Nifty IT stocks drag; Heavyweights Tech Mahindra, Infosys underperform

Wipro, HCL Tech led the gains. Wipro traded 4.80 points higher or 1.36% at 357.65. HCL Tech also surged ~1% higher.

Dec 02, 2020 11:12 IST India Infoline News Service

IT Stocks Up
IT stocks underperformed in the morning session trade on Wednesday.
Heavyweights like Larsen & Turbo Infotech, Tech Mahindra and Infosys were trading in the red while Wipro, HCL Tech led the gains.

At around 11.30 am, Nifty IT was trading at 22,039.45, down 131.40 points or 0.59%. IT stocks opened at 22,149.35 and touched a high of 22,197.10 and low of 21,961.45 on Wednesday.

LTI (down 1.83%) was the biggest loser, however it was Tech Mahindra (down 1.38%) and Infosys (down 1.33%) that hurt the sector more. Naukri was also down 1.35% while TCS also traded in the red.

Wipro traded 4.80 points higher or 1.36% at Rs357.65. HCL Tech also surged ~1% higher while MindTree was the only third comnpany in the IT sector to trade higher. 

Meanwhile, the indices were bearish in the morning session. At around 11.38 am, BSE Sensex traded at 44,437.77 down 217.67 points or 0.49% and Nifty 50 at 13,064.90 down 44.15 points or 0.34%.

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