BENGALURU, October 22 (Reuters) - Indian stocks narrowed Thursday on losses in financial and IT stocks, tracking broad market sentiment over concerns over US stock stimulus talks and a setback in global CO -ID-19 cases on Thursday went.
The NSE Nifty 50 index .NSEI was down 0.35% at 11,896.45, while the S&P BSE Sensex .BSESN closed down 0.37% at 40,558.49, both of which made gains of their four sessions.
The Nifty Bank Index .NSEBANK decreased 0.61%, falling short of losses in lenders HDFC Bank Ltd. HDBK.NS and ICICI Bank Ltd. ICBK.NS, which closed lower by 1.07% and 1.76% respectively.
The Nifty IT index .NIFTYIT, which has risen 7.3% so far this month, ended the session 0.76% lower. Infosys Ltd shares INFY.NS ended the day down 1.68% and were among the top drugs.
Arihant Capital Markets Director Anita Gandhi said, "Stressed valuations in IT stocks are causing some profit and we are not getting a clear picture for bank stocks."
Tata Consultancy Services TCS.NS shed 0.16%, with the company reported to be a potential buyer for Postbank Systems, the DBKGn.DE IT services division of Deutsche Bank. Reliance Industries RELI.NS closed 0.8% and Dr. Reddy's labs closed REDY.NS, 0.4% less than the day after the drug maker demerged all its data center services as a preventive measure following a cyber attack done. Shares fell to a two-week low in global COVID-19 cases, and US President Donald Trump accused Democrats of not agreeing to an acceptable compromise on the COVID-19 stimulus bill. MKTS / GLO
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