Sensex falls 483 points, Nifty below 17,700; it

Sensex and Nifty closed lower today.

New Delhi: Indian equity benchmarks traded lower on Monday, dragged by information technology (IT) stocks as market participants turned their attention to quarterly earnings. IT major Tata Consultancy Services (TCS) will begin the March quarter 2021-22 (FY22) corporate results season later in the day.

The 30-share BSE Sensex ended 483 points or 0.81 per cent lower at 58,965, while the broader NSE Nifty ended 109 points or 0.62 per cent lower at 17,675.

Mid- and small-cap stocks ended on a mixed note as the Nifty Midcap 100 index ended 0.62 per cent lower and small-cap 0.06 per cent lower.

Of the 15 sector gauges compiled by the National Stock Exchange, 10 ended in the red. Nifty IT and Nifty Financial Services lost 1.41 per cent and 0.56 per cent, respectively, in the index.

On the stock-specific front, HCL Tech was the top gainer in the Nifty as the stock fell 2.65 per cent to Rs 1,134.50. L&T, Infosys, Wipro and SBI Life also lagged behind.

However, the overall market breadth remained positive as 2,115 stocks declined, while 1,441 declined on the BSE.

L&T, HCL Tech, Infosys, Wipro, Asian Paints, HDFC Twins (HDFC and HDFC Bank) and Axis Bank were among the top losers in the 30-share BSE index.

HDFC twins fell for five consecutive seasons and have wiped out all their respective gains since the mega-merger was announced last week.

Besides, shares of yoga teacher Ramdev’s Ruchi Soya Industries closed 0.56 per cent lower at Rs 918.25 after it decided to change the company’s name to Patanjali Foods Ltd. The stock jumped over 8 per cent in intraday deals before settling in the red. Ruchi Soya recently raised Rs 4,300 crore through its follow-on public offering (FPO).

In contrast, ICICI Bank, NTPC, Kotak Mahindra Bank, TCS, UltraTech Cement, Nestle India and Sun Pharma closed in the green.

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