Markets fall after 5-day rally on weak trends from Asian peers, profit-taking in IT stocks
The Hindu
Among the Sensex firms, HCL Technologies, Wipro, Tech Mahindra, NTPC, Reliance Industries, Infosys, Tata Consultancy Services and HDFC Bank were the major laggards.
Benchmark equity indices declined in early trade on January 16 after rallying sharply in the past five sessions, amid profit-taking in IT stocks and weak trends from Asian markets.
The 30-share BSE Sensex fell 226.93 points to 73,101.01. The Nifty declined 68.25 points to 22,029.20.
In the last five session, the BSE benchmark rallied 1,972.72 points or 2.76%. The Nifty jumped 584.45 points or 2.71%.
Among the Sensex firms, HCL Technologies, Wipro, Tech Mahindra, NTPC, Reliance Industries, Infosys, Tata Consultancy Services and HDFC Bank were the major laggards.
IT stocks fell on profit-taking after rallying sharply in the past two sessions.
Tata Motors, Bajaj Finance, Maruti and Asian Paints were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower.
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Sensex and Nifty close lower, Sensex at 81,508.46 and Nifty at 24,619, impacted by global trends and selling.