Sensex & Nifty Under Pressure, Infosys Up By 6%

The benchmark indices Sensex and Nifty were trading in the negative zone. BSE Sensex was trading down by 253 points at 26383 and NSE Nifty was down by 77 points at 7882. The indices plunged in the early trade as the investors are cautious ahead of IIP data for the month of August which will be out today at 5.30 pm. Also the investors booked profits after yesterday's gain. In the broader markets, the BSE mid-cap and small-cap indices were also seen trading in the negative territory, down by 0.91% and 0.79% respectively. The overall market breadth on BSE was negative as 321 shares have advanced and 1587 shares declined.

Tracking the momentum of sectoral indices, all the indices were seen trading in red. However BSE IT was the top sectoral gainer in today's trade, up by 2.43%. Among the gainers, Infosys was up by 6% after the company reported better than expected results. All the IT shares were seen trading higher, HCL Tech and Tech Mahindra was up by 1.99% and 1.09%. The shares of the oil marketing companies are trading higher after the brent oil prices fell at its lowest to $89.24. Among the losers, Hindalco, Tata Steel and Cairn were trading down by 3.80%, 3.58% and 3.30% respectively.

Further a weak trend was seen in the Asian markets. All the indices were seen trading in red as Brent crude tumbled to its lowest and after the weak German export data on Friday raised fears that Europe's economic gloom could drag down the global economy. Japan's Nikkei, Hong Kong's Hang Seng and China's Shanghai were down by 1.46%, 1.63% and 0.68% respectively.