The week has been relatively positive for the major indices in the country. The week has only gotten better, as the marquee indices of the BSE Sensex and NSE Nifty have broken records and crossed their life-high marks in the intraday trade on Wednesday, September 18.
Sensex and Nifty Hit Lifehigh
The BSE Sensex, which is the oldest index in the whole of Asia, crossed the the threshold of the 83K mark. The index opened at 83,037.13 and hit the 52-week high of 83,310.32.
At the time of writing, the Sensex reached 83,258.28 points, with gains of 0.22 per cent or 178.62 points.
When we look at the NSE Nifty, this index also broke its record on Wednesday.
The BKC-based index gained 0.19 per cent or 47.85 points, reaching the mark of 25,466.40 points. The index opened at 25,402.40 before hitting the 52-week high of 25,478.60.
The Nifty Bank also made gains of 0.82 per cent or 429.50, taking it to the 52,618.15 mark. The banking index opened at 52,177.10. It also hit the right of 52,741.40.
Nifty IT and IT Stocks Decline
Tech Mahindra Stocks |
The picture, however, was little different at the Nifty It corner, as the IT index, thanks to the poor performance of the major It stocks listed on the market, declined significantly. The Nifty IT dropped by a mammoth 2.94 per cent or 1,276.10 points. This took the overall down to 42,138.90
All major IT stocks, including the likes of HCL, LTIMindtree, Wipro and others, were trading with a deficit of at least 2 per cent or more. One of the biggest IT companies, TCS, saw its price decline by 3.00 per cent. Benagluru-based IT behemoth Infosys also lost majorly, with a decline of 2.97 per cent.
Tech Mahindra also incurred major losses in the intraday trade. The shares dropped by 3.55 per cent or Rs 58.55, dropping to Rs 1,593.00 per share.
