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    Share market update: IT stocks trade in red; MindTree plunges 15%

    Synopsis

    Benchmark NSE Nifty50 index was down 111.80 points at 10341.25, while BSE Sensex was down 329.28 points at 34,450.3 at that time.

    IT-BCCL
    Among the 50 stocks in the Nifty index, 14 were trading in the green, while 35 were in the red.
    NEW DELHI: Most IT shares were trading lower with the Nifty IT index trading 2.67 per cent down at 14,550.7 around 12:02 pm on Friday.

    Shares of MindTree (down 14.52 per cent), HCL Technologies (down 3.91 per cent), Infosys (down 3.44 per cent), Tech Mahindra (down 2.83 per cent) and Oracle Financial Services Software (down 1.55 per cent), were the major laggards in the index.

    MindTree plunged 15 per cent after several brokerage firms slashed their target price for the company post Q2 results after the company missed revenue estimates.

    Tata Elxsi (down 1.51 per cent), Tata Consultancy Services (down 1.33 per cent) and Wipro (down 0.09 per cent), too appeared among top laggards.

    Benchmark NSE Nifty50 index was down 111.80 points at 10341.25, while BSE Sensex was down 329.28 points at 34,450.3 at that time.

    Among the 50 stocks in the Nifty index, 14 were trading in the green, while 35 were in the red.

    Shares of YES Bank, L&T Fin Holding, SBI, RIL, DLF, Bank of Baroda, ICICI Bank, Ashok Leyland and Idea Cellular were among the most traded shares on the NSE.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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