SENSEX SLIDES 200 PTS; IT SHARES SLIDES

The key equity benchmarks traded with minor losses in mid-afternoon trade. The Nifty traded below the 25,350 mark after hitting the day�s high of 25,482.20 in afternoon trade. IT stocks extended losses for the three consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex was down 200.09 points or 0.23% to 82,883.53. The Nifty 50 index fell 76.20 points or 0.30% to 25,342.35.

The Sensex and Nifty clocked an all-time high of 83,326.38 and 25, 25,482.20, respectively in afternoon trade.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.88% and the S&P BSE Small-Cap index declined 0.60%.

The market breadth was weak. On the BSE, 1,399 shares rose and 2,517 shares fell. A total of 116 shares were unchanged.

Buzzing Index:

The Nifty IT index fell 3.55% to 41,873.05. The index declined 3.50% in the two consecutive trading sessions.

Mphasis (down 6.23%), Persistent Systems (down 4.19%), L&T Technology Services (down 4.03%), Tata Consultancy Services (down 3.89%), Tech Mahindra (down 3.62%), HCL Technologies (down 3.61%), Infosys (down 3.58%), Wipro (down 3.14%), Coforge (down 2.81%) and LTIMindtree (down 1.78%) slipped.

Numbers to Track:

MCX Gold futures for 4 October 2024 settlement fell 0.05% to Rs 73,057.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.10% to 100.80.

The United States 10-year bond yield added 0.64% to 3.667.

In the commodities market, Brent crude for November 2024 settlement lost 79 cents or 1.07% to $72.91 a barrel.

Stocks in spotlight:

REC rose 0.17%. The company said that it has signed non-binding memorandum of understandings (MoUs) with Renewable Energy (RE) developers aggregating about Rs 1.12 lakh crore, which will be implemented over a period of 5 years.

Welspun Living added 1.17% after its subsidiary, Welspun USA Inc has approved acquisition and investment of $300,000 in, a newly incorporated company, Christy Home Inc on 17 September 2024.

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