IT stocks slide in range-bound market

The key benchmark indices were flat in a range bound afternoon trade on Friday. The benchmark Sensex fell 57 points to 15,724 levels and the Nifty dropped 18 points to 4,669. While realty and capital goods counters gained, IT and pharma stocks were under pressure.

The realty index on the BSE rose 1.8 per cent and the capital goods index was up 0.2 per cent. The BSE IT index shed nearly 2 per cent and the BSE healthcare index dropped 0.6 per cent.Among the Sensex stocks, DLF led the gainers. The stock advanced 3.7 per cent.

Bharti Airtel, ACC and Hindalco were the other main gainers in the pack, up more than 1.4 per cent each. Tata Power, Infosys and ITC lost over 2 per cent each.Asian markets were trading mixed today. South Korea’s Kospi and Japan’s Nikkei rose over 0.5 per cent each. China’s Shanghai Composite slipped 2.9 per cent.
(With AP inputs)

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