Sensex, Nifty, Midcap off day’s high; Infosys, TCS, HDFC drag

Epic Update Infosys
Epic Update Infosys

Equity benchmarks as well as broader markets were off day’s high in afternoon trade due to selling pressure in technology stocks. However, Reliance, banks and auto stocks continued to support the market.

The 30-share BSE Sensex was up 132.61 points at 28965.06 and the 50-share NSE Nifty gained 36.55 points at 8934.10. The gap between advances and declines narrowed as about 1437 shares gained against 1257 falling shares on the BSE.
Reliance Industries continued to hold its momentum, up 3.4 percent on value buying interest on hopes of strong telecom and energy prospects.

Technology stocks TCS, Infosys and Wipro remained under pressure after the US Citizenship and Immigration Services (USCIS), the agency that oversees lawful immigration to the US, has announced that it will temporarily suspend premium processing of all H1B petitions.

Tata Motors, ITC, L&T, HDFC Bank, HDFC Bank and SBI were other gainers while Sun Pharma, HUL, HDFC and Tata Steel were losers.
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