Markets continue to remain weak; HCL Tech slides 8%

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Markets continue to remain weak; HCL Tech slides 8%
Markets in India continued to trade weak with the Sensex trading marginally lower by 48 points, while the Nifty was down 12 points in trade.

Leading the set of losers were tech stocks like HCL Tech and TCS. The latter fell almost 7 per cent in trade while HCL fell 7 per cent.

Other stocks that lost ground were metal stocks like Hindalco, Tata Steel and Jindal Steel on fears of a global economic slowdown.

Tractor major M&M which had fallen sharply on Thursday recovered lost ground and was trading with gains.

Select mid cap stocks like Jain Irrigation and Havells saw buying interest. But, the clear winners in trade were the PSU banking space with Oriental Bank of Commerce, Andhra Bank and Indian Overseas Bank.

Meanwhile, Asian markets saw some traction, though the Japanese Nikkei continued to trade lower.

Read more about: hcl tech, hindalco
Story first published: Friday, October 17, 2014, 11:16 [IST]
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