Stock Market Today: Shares of IT companies, private banks fell, Sensex-Nifty suffered losses due to fall in indices.
Mumbai. Major indices fell in early trade on Wednesday due to selling pressure in shares of HCL Technologies and other IT and banking companies. BSE Sensex opened at 79,019.34 points, down 253.99 points compared to the previous trading day. After this its fall increased and at the time of writing the news it fell by 749.82 points (0.95 percent) to 78,523.51 points.
The Nifty-50 index of the National Stock Exchange also slipped 105.75 points and opened at 24,470.85 points. At the time of writing, it fell 196.05 points or 0.80 percent to 24,380.55 points. The company’s stock has fallen nine percent today after HCL Technologies’ financial results released on Tuesday revealed a loss in the fourth quarter of the last financial year.
The company has suffered a loss of Rs 900 crore in the quarter ended March 31. The main reason for this loss was the payment of Rs 5,733 crore in an old tax case abroad. In this case, it has paid Rs 703 crore in the first three quarters. After the IT sector, banking and financial companies created the most pressure on the market.
Selling dominated in private banking companies while buying was seen in public banking companies. There is also a decline in the health and pharma sectors. Unlike big companies, investors have shown confidence in small companies. Overall, sentiment in the macro market is positive.
Among Sensex companies, the share of HCL Technologies has fallen by almost nine percent. There is a decline of two to two and a half percent in Tech Mahindra and Infosys. Shares of ICICI Bank, TCS and BEL are also down more than one percent. Shares of Hindustan Unilever and NTPC are rising more than one percent.
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