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Post Session: Sensex ends 120 pts lower, Nifty below 8,250; IT, Teck stocks drag

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Dion Global

06 Jan 2017

Indian equity benchmarks ended lower on Friday, erasing early gains, weighed down by losses in the IT and teck stocks after media reports suggested that the US Congressmen have reintroduced a bill to limit the use of H-1B visas, a move which would directly affect IT industry. However, appreciation in rupee and gain across bank, healthcare and metal stocks limited market losses.

The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 26759.23, down by 119.01 points or by 0.44 per cent, and the NSE Nifty ended at 8243.8, down by 30 points or by 0.36 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 27009.61 and intraday low of 26733.33, while the NSE Nifty touched intraday high of 8306.85 and intraday low of 8233.25.

The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 971.45,-2.50%), Tata Consultancy Services Ltd. (Rs. 2283.60,-2.18%), Wipro Ltd. (Rs. 469.90,-2.18%), ITC Ltd. (Rs. 242.65,-1.56%), Power Grid Corporation of India Ltd. (Rs. 188.75,-1.07%), among others.

On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 202.45,+1.40%), Asian Paints Ltd. (Rs. 927.70,+1.23%), Dr. Reddy's Laboratories Ltd. (Rs. 3168.00,+1.01%), HDFC Bank Ltd. (Rs. 1193.20,+0.82%), Housing Development Finance Corporation Ltd. (Rs. 1222.15,+0.46%), were among top gainers on BSE.

On the sectoral front, IT and Teck stocks emerged as top losers, falling as much as 2.54 per cent and 2.16 per cent respectively.

The market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 3146, shares advanced were 2041 while 961 shares declined and 144 were unchanged.