Stock market LIVE: Sensex slipped 246 points to reach 49300 level, investors are selling IT and banking shares


Today, the market started flat due to the huge fluctuations that have continued for the last three days. But a few minutes after the initial rise, the market declined, which continues. The BSE Sensex is trading at 49,300 level. IT and banking stocks lead the overall decline.

59% shares fall on BSE

At 12:38 in the afternoon, the Sensex is trading at 49,338.24, down by 245.92 points. The shares of HLC Tech and Tech Mahindra are top losers. Shares are down 1-1%. Infosys, HDFC and Kotak Bank stocks also declined on the index. Shares of 2,956 companies are trading on the BSE, of which 1,754 are trading with a decline. That is, 59% shares fall. Total market cap of listed companies has increased to Rs 196.83 lakh crore due to all-round selling.

Similarly, the Nifty index is trading down 75.30 points at 14,520.30. Hindalco’s stock is trading down 2%. On the other hand, Bharti Air’s stock is trading up 3.61%. Apart from this, UPL’s stock is also trading up 2.38%.

HCL Tech’s profit up 27% in December quarter

HCL Tech, the country’s third-largest IT company, has presented its December quarter results. On a quarterly basis, the consolidated profit of the company increased by 26.7% to Rs 3,982 crore as against Rs 3,142 crore in the September quarter. Revenue also grew by 3.8% to Rs 19,302 crore. It was Rs 18,594 crore in the previous quarter.

According to the company, dollar revenue stood at $ 26.17 million in the December quarter, compared to $ 257.7 million in the second quarter. The company’s stock rose 16.6% in the December quarter and 66.5% in 2020. While the Nifty IT index rose 21.55% in December quarter and 55% in 2020.

Asian markets boom

In the US, the impact of the new relief package is being recorded in markets across the world. Japan’s Nikkei index is trading down 0.17% in Asian markets. South Korea’s Cospi index is also trading down 1.11% and China’s Shanghai Composite Index is down 0.53%. Whereas, Hong Kong has a gain of 0.33% in the Hangseng Index. Yesterday, the Dow Jones closed down 69 points in US markets. Also the Nasdaq 0.12% and the S&P 500 index were down by 0.38%.

A slight increase was recorded in the market

The Sensex was up 92 points at 49,584.16 yesterday and the Nifty closed up 30.75 points at 14,595.60. IT stocks were under pressure in the overall market. HCL Tech was the top loser in the Sensex. However, TCS, Reliance and IndusInd Bank were at the forefront of the stock market boom. Out of 3,183 companies on the Bombay Stock Exchange (BSE), 1,505 closed at the top and 1,505 declined. According to NSE data, foreign investors (FIIs) bought shares worth Rs 1,076.62 crore yesterday and domestic institutional investors (DIIs) bought shares worth Rs 188.1 crore. Sold shares of.