Equity indices tumble on profit booking but IT stocks shine

Equity benchmark indices closed lower on Monday after choppy trading as traders booked profit after an initial spurt in the morning session.

Equity benchmark indices closed lower on Monday after choppy trading as traders booked profit after an initial spurt in the morning session. At the closing bell, the BSE S&P Sensex was down by 97 points or 0.25 per cent at 38,757 while the Nifty 50 lost by 43 points or 0.38 per cent at 11,421.

Sectoral indices at the National Stock Exchange were mixed with Nifty financial service dipping by 1.8 per cent, private bank by 1.5 per cent and pharma by 0.8 per cent. But Nifty IT jumped by 4.3 per cent, realty by 3.6 per cent and auto by 0.7 per cent.

Among stocks, Bharti Airtel dipped by 3.7 per cent to close at Rs 473.10 per share while Bajaj Finance lost by 3.2 per cent and Bharat Petroleum Corporation by 3.1 per cent. The other prominent losers were State Bank of India, Grasim, Hindalco, Sun Pharma, HDFC and HDFC Bank.

However, HCL Technologies spurted by 10.6 per cent to Rs 795.95 per share while Tata Consultancy Services moved up by 4.8 per cent, Wipro by 4.4 per cent and Tech Mahindra by 3.4 per cent. Oberoi Realty advanced by 6.2 per cent to Rs 400.10 per share while Prestige estate gained by 7.9 per cent, Brigade Enterprises by 7 per cent and DLF by 1 per cent.

The others which gained were Tata Motors, Hero MotoCorp, Adani Ports, UPL and Titan. Meanwhile, Asian shares firmed on renewed hopes for a coronavirus vaccine after AstraZeneca resumed its phase three trial though sentiment was still cautious.

Japan's Nikkei added 0.65 per cent while Hong Kong's Hang Seng rose by 0.56 per cent and South Korea's Kospi ticked up by 1.3 per cent. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)