Nifty IT Index Loses Sheen in Morning Hours as TCS Trades Lower by Over 1 Percent

Market has edged up ahead of Reserve Bank of India’s monetary policy meeting on Wednesday with Sensex trading higher by nearly 100 points and Nifty hovering around 9660 level in the morning hour.
 
Trading marginally lower by 0.32% at 10871 level paring some of its gains of past few trading sessions, Nifty IT index is showing some weakness on the sectoral front.
 
Trading lower by over 1% at Rs 2668 per share, Tata Consultancy Services is the top loser in the index. Despite positive sentiments floating in the market with 1030 advances, 456 declines and 453 unchanged stocks on NSE, Nifty IT index is losing its sheen in the morning hours on Wednesday.
 
In past six months, the stock has gained over 20%. Its market capitalisation stood at Rs 531109 cr as of June 6, 2017.Trading marginally higher by 0.07% at Rs 980 per share, Infosys is one of the top five most active stocks by value on Wednesday. Other IT stocks like, Wipro, Tech Mahindra, Tata Elxsi and HCL Tech have slipped in red zone as of 0957 hours on Wednesday.