Sensex down 159 points, Nifty below 8950; TCS down 1.3%

Epic Update TCS
Epic Update TCS

The market remained subdued after opening higher on Monday, led by gains on Reliance and Bharti Airtel.

The 30-share Sensex was up 159.65 points at 28992.10, while the Nifty was up 43.05 points or 0.48 percent at 8940.60.

The market breadth was narrow as 1,456 shares advanced, 1,326 shares declined, while 169 shares remained unchanged.

Tata Consultancy Services (TCS), Sun Pharma and Grasim were the top losers on the indices.

Music Broadcast’s initial public offering (IPO), has hit the Street on Monday. The Radio City operator’s issue will close on March 8, 2017. The price band has been set between Rs 324 and Rs 333.

Reliance Industries shares touched a fresh nine-year high of Rs 1,307.05, up 3.86 percent intraday Monday as investors remained bullish on its telecom as well as energy prospects.

Shares of information technology (IT) companies were under pressure in early trade on Monday, following the developments on H1-B visa front in the US. Infosys and TCS were down over 1.25 percent intraday, while Wipro was lower by 0.62 percent. HCL Technologies, meanwhile, gained around 0.20 percent.
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