Sensex falls 87 points on selling in IT counters, weak global equities
The Hindu
Nifty dipped 4.60 points or 0.03% to close at 16,216.
Benchmark indices turned highly volatile in the last hour of trade on Monday, with the Sensex falling 86.61 points after three days of gain amid heavy selling in IT counters and weak trends in global markets.
The 30-share BSE benchmark declined 86.61 points or 0.16% to settle at 54,395.23. During the day, it fell by 391.31 points or 0.71% to 54,090.53.
The broader NSE Nifty dipped 4.60 points or 0.03% to close at 16,216.
From the Sensex pack, Bharti Airtel, TCS, HCL Technologies, Infosys, Wipro, Tech Mahindra, Larsen & Toubro and Power Grid were the major laggards.
TCS fell 4.64% after its earnings failed to match market expectations.
The country's largest software exporter TCS on Friday reported a 5.2% rise in June quarter net profit to ₹9,478 crore, restricted by the impact of annual wage hikes and promotions that took operating profit margins to multi-quarter lows.
Brokerage firm Prabhudas Lilladher said the company has missed on both revenue and margins in the June quarter results.
According to BACL, the biophilic-inspired business park will offer smart workspaces within a vibrant public realm. The project’s most exceptional and breathtaking attribute lies in the Urban Forest, a lush oasis in the centre of the development. This green space will serve as a focal point, seamlessly blending indoor and outdoor spaces throughout the area. The upcoming metro station in Airport City will provide seamless connectivity to the business park from the northern side, ensuring convenient accessibility.