Equity indices trade lower, IT scrips under pressure
Jan 14, 2021
Mumbai (Maharashtra) [India], Jan 14 : Equity benchmark indices traded lower during early hours on Thursday dragged by technology stocks.
At 10:15 am, the BSE S&P Sensex was down by 199 points or 0.4 per cent at 49,293 while the Nifty 50 slipped by 48 points or 0.33 per cent to 14,517.
Sectoral indices at the National Stock Exchange were mixed with Nifty IT dipping by 2.1 per cent. Banking and FMCG were in the green.
Among stocks, Wipro dropped by 3.7 per cent to Rs 441.65 per share as traders booked profits. HCL Technologies and Infosys fell by 3.2 per cent each, and Tech Mahindra by 2 per cent.
Asian Paints, JSW Steel, Cipla, Maruti Suzuki and Axis Bank too traded with a negative bias.
However, Hindustan Aeronautics surged by 8.2 per cent after the government approved procurement of 83 indigenously-developed light combat aircraft Tejas for Indian Air Force at a cost of Rs 48,000 crore.
IndusInd Bank advanced by 3.8 per cent to Rs 979.05 per share while index heavyweight Reliance Industries moved up by 0.6 per cent.
Meanwhile, Japanese stocks jumped to a three-decade high and other Asian equities were near record peaks as investors focused on US stimulus prospects and extended bets on global recovery and growth.
Japan's Nikkei rose by 1.4 per cent to its highest point since August 1990. MSCI's broadest index of Asia Pacific shares outside Japan was steady and just short of Monday's all-time high.
