Sensex, Nifty Fall Over 1% As Tech Stocks Drag: Midday Market Update

India's benchmark stock indices fell by midday trade on Friday as information technology stocks declined, while capital goods and industrial sectors were the top gainers.

As of 12.48 pm, the S&P BSE Sensex was 805.83 points, or 1.19%, lower at 66,766.07, while the NSE Nifty 50 declined 216.80 points, or 1.09%, to 19,762.35.

Larsen & Toubro Ltd., State Bank of India, ITC Ltd., Tata Motors Ltd. and JSW Steel Ltd. were positively contributing to changes in the Nifty 50.

Infosys Ltd., Reliance Industries Ltd., Hindustan Unilever Ltd., Tata Consumer Products Ltd. and HDFC Bank Ltd. weighed on the index.

The broader market indices outperformed the Nifty and the Sensex, with the S&P BSE MidCap declining 0.05% and the S&P BSE SmallCap gaining 0.08% by midday trade on Friday.

Twelve out of the 20 sectors compiled by the BSE Ltd. declined. S&P BSE Information & Technology fell the most.

The market breadth was skewed in favour of the sellers. As many as 1,565 stocks rose, 1,683 declined, and 142 remained unchanged on the BSE.