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Nifty down in trade. IT stocks drag down.



The market indices have slipped into the red as IT heavyweights have displayed weakness.

The BSE Sensex was down 18 points at 21,814 and the NSE Nifty was flat at 6,513, down four points.

In the broader markets, the mid and smallcap indices have seen 0.4% gains.

IT and Teck indices down 2% each along with Realty index down 0.1% were the only sectoral indices in the red.

Bankex, Power, Oil & Gas, Meta, Auto and FMCG indices were up 0.4-0.6%.

The only losers among Sensex-30 were IT majors, TCS, Infosys, Wipro and Maruti Suzuki down 0.7-3.7%. TCS slipped after the company announced that fourth quarter of FY14 will be weak, with the management expecting margins to be down by 40-50 basis points.

Among the gainers were Gail India, Coal India, RIL, HDFC, Tata Power and Axis Bank, up 1-2%.



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