Sensex slips into red as IT stocks fall

MUMBAI, INDIA: A benchmark index for Indian equities markets on Thursday slipped into the red in noon trade led by IT stocks as bellwether Infosys lowered its guidance while reporting quarterly results.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,117.19 points, was ruling at 16,005.88 points, 169.98 points or 1.05 per cent down from its previous close at 16,175.86 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading in the positive at 4,812.9 points - down 0.99 per cent or 48.05 points from its previous close.

Also read: Sliding Rs. may boost Infy profit 30 p.c.

Broader markets were also in the red. The BSE 500 index was ruling 0.49 per cent lower from its previous close.

The market breadth was negative with 1,175 stocks advancing, compared to 1,215 on the decline. Another 114 remained unchanged.

Prominent gainers on the 30-scrip Sensex included SBI, NTPC, Sterlite and Bajaj Auto. Among the losers were Infosys, TCS, Wipro and L&T.

Also read: Will Infosys pip the rest to top?

Asian markets were ruling subdued on a combination of negative news overnight from the Euro zone. Germany Wednesday reported a contraction in its economy in the third quarter, Spain's industrial output dropped 7 per cent year-on-year and Britain reported weak trade figures.

The Japanese Nikkei shed 0.74 per cent and closed at 8,385.59 points.

Hong Kong's Hang Seng was flat at 19,152.13 points, while the Chinese Shanghai Composite index nudged up 0.39 per cent and was trading at 2,283.71 points.