IT and telecom weakness drag Sensex; Nifty slips near 25,600
IT and telecom weakness drag Sensex; Nifty slips near 25,600
Indian benchmarks open lower as IT and telecom names lead losses, with Sensex sliding and Nifty dipping, while a few PSU and metal stocks offer limited support.
Indian equity indices opened sharply lower on Tuesday, with the Sensex down 476 points to 82,818.25 and the Nifty 50 slipping about 119 points to 25,594.20 in early trade. Profit booking in IT and telecom counters dragged the benchmarks lower. IT, telecom names led the fall as technology and telecom stocks bore the brunt of selling pressure. Infosys slid over 3% to 1,287.10, HCL Technologies fell 2.7%, and TCS slipped 2.6%. Bharti Airtel declined about 2%, while Wipro eroded around 2.1%. Other notable losers included Bajaj Finance, Trent, and Bharat Electronics, each dropping between 1% and 1.6%.
