Mkt plunges, as TCS cracks over 4%

Mkt plunges, as TCS cracks over 4%
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Mkt plunges, as TCS cracks over 4% .Markets ended lower for the third straight session on Friday. The benchmarking indices dragged down with the selling pressure in IT stocks after TCS was reported below the expectations for the fourth quarter and weak global cues.

Mumbai: Markets ended lower for the third straight session on Friday. The benchmarking indices dragged down with the selling pressure in IT stocks after TCS was reported below the expectations for the fourth quarter and weak global cues. The Sensex closed down 224 at 28,442 and Nifty ended down 101 points at 8,606. The broader markets ended lower with midcap down 2 per cent and smallcap down 1.5 per cent. Meanwhile foreign institutional investors turned net sellers in equities to the tune of Rs 214 crore, according to exchange data.

On sectoral front, the healthcare index was down 3.05 per cent, followed by tech, IT, consumer durable, bankex, auto, reality, capital goods and oil & gas between 2 and 0.36 per cent, while metal index gained 1.1 per cent.On banking space, Axis Bank, ICICI Bank and HDFC Bank were down between 0.8 and 3.1 per cent. From IT space, TCS was the top loser down by 4 per cent followed by Infosys and Wipro closed down 0.7 per cent and 2.5 per cent.

The gainers: Sesa Sterlite, up 3.18 per cent at Rs 210.60; Tata Steel, up 2.53 per cent at Rs 345.85; Hindalco Industries, up 1.86 per cent at Rs 139.80; BHEL, up 1.18 per cent at Rs 234.85; and NTPC, up 1.15 per cent at Rs 158.

The losers: Sun Pharma, down 4.80 per cent at Rs 1,037.30; Tata Consultancy Services (TCS), down 4.22 per cent at Rs 2,476.20; Axis Bank, down 3.23 per cent at Rs 534.15; Bharti Airtel, down 2.70 per cent at Rs 406.05; and Wipro, down 2.46 per cent at Rs 586.55.

(With inputs from agencies)

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