Stock Market Today: Nifty Ends Below 25,100, Sensex Sheds Over 240 Points As IT Drags; Tech Mahindra Top Loser

At the close of trading, benchmark indices underperformed broader market indices. The Nifty 50 ended 0.27% lower at 25,082 while the Sensex ended 247 points lower at 82,253. The Nifty ended lower for the fourth consecutive day. Jio Financial Services and Tech Mahindra were the top losers in the Nifty, with Nifty IT emerging as the top losing sector for the day. Within the Nifty IT sector, Tech Mahindra and LTTS were the biggest decliners.

Conversely, Nifty Realty and Nifty Media sectors both gained more than 1% for the day. The Nifty Midcap 150 snapped a six-day losing streak, while the Nifty Smallcap 250 ended a two-day losing streak.

Sector-wise, Nifty Media and PSU Banks snapped their five-day losing streaks. Nifty Pharma gained for the second consecutive day, and Nifty Auto broke its two-day losing streak. Nifty Financial Services fell for the third consecutive day, and Nifty IT continued its decline for the fourth day.

Rupee closed 19 paise weaker against the US Dollar at 85.99

-It closed at 85.80 a dollar on Friday.

Source: Bloomberg

The Nifty IT is down 1.3% as of 2:50 p.m.. Most IT stocks were down, led by Wipro, Infosys and TCS.

Shares of Eternal have risen over 3% during trade so far. The scrip had risen as much as 5.47% to Rs 277 apiece on the NSE. The scrip is currently trading 3.65% higher at Rs 272. These gains compare to the 0.43% decline in the benchmark index Nifty 50 as of 2:10 p.m.

The shares of MTNL were up over 8% as the shares rose as much as 9.47% to Rs 53 apiece on the NSE. These gains compares to the 0.44% decline in the benchmark index Nifty 50 as of 1:55 p.m.