Markets see a day in red

17 Apr 2023 , 03:53 PM

Indian markets saw a day in red today. Markets got dragged down by heavy selling in many large cap IT stocks. Nifty IT index came down by 4.71% today.  This selling pressure came in IT stocks after disappointing March quarter results of Infosys and TCS. Infosys has lowered its expectation of revenue growth to 4% – 7% for FY 24. The company has said that bank failures in US and economic slowdown in US and Europe will be adversely impacting its performance. The company saw a number of project cancellations by its clients, in the March quarter.

Nifty 50 closed, down by 125.65 points. Sensex closed, down by 520.25 points. Top Gainers today were Nestle India, Power Grid and State Bank of India. Top Losers today were Infosys, Tech Mahindra and HCL Tech. 

Buying demand was seen today in some banking, realty and oil & gas stocks. Yes Bank, Reliance Power, and UCO Bank were the most traded stocks today at NSE, in terms of volume. Infosys, HDFC Bank, and ICICI Bank were the most traded stocks, in terms of value. 69 stocks touched new 52-week high today at NSE. 28 stocks touched new 52-week low.