Tech Stocks Drag Nifty, Sensex Lower

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The Sensex and the Nifty ended the day lower dragged down by tech stocks. The Sensex fell by  104 points, while the Nifty fell 26 points in trade. Leading the set of losers from the Nifty and Sensex were tech stocks like Infosys and TCS which dropped one per cent each.

 Tech Stocks Drag Nifty, Sensex Lower
Indices
Sensex26,236.87Sensex Quote-155.89 [0.59%]
Nifty8,102.05Nifty Quote-41.10 [0.50%]
Other Nifty stocks that declined in trade were pharma stocks like Sun Pharma and Cipla. Mahindra and Mahindra and Sesa Sterlite were the top gainers from the Sensex.

Shares of SpiceJet plunged more than 10 per cent after news that the Airports Authority of India (AAI) may revoke credit facility in order to compensate on charges it has to pay to operate flights.

Cairn India ended the day with losses once again after crude prices remained weak. Banking stocks especially the larger PSU banking stocks had a very good session in trade with Punjab National Bank and Bank of Baroda among the top gainers.

DLF was the top gainer from the Nifty stocks ending the day almost 4 per cent higher. Mid cap stocks also had a good day in trade with notable winners being Hindustan Zinc and Unitech. Jubilant Foods and MRF were the other gainers.

Meanwhile, markets across Europe soared in trade ahead of the US Jobs data and comments by Mario Draghi ECP President.

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Read more about: sensex, nifty
Story first published: Friday, December 5, 2014, 15:04 [IST]
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