Although markets have seen upward momentum, some of the counters from select sectors are witnessing heavy action on the downside.
Heavy selling is seen in the counter of Infy, which has nosedived 8% in today’s trade, after Mr. Narayan Murthy raised his concerns on the company’s guidance yesterday. Investors have started dumping the stock which has now come down to 3399. Following this other IT counters such as Wipro and HCL Tech have also seen cuts of nearly 2% each. TCS is down by 0.4%.
Sun Pharma is the other big loser on the index. The stock is already down by 4.6% at 574.
On the gaining side, are stocks from Banking space. PNB has moved up by 2% at 627. ICICI Bank has also moved up by 2% at 1235. Bank of Baroda is up by 2% at 654. State Bank of India is up by 1681. Kotak Bank has also moved up by 2%. Axis Bank is up by 1.3%.
Market leader Reliance industries is up by 2% at 889.