Under the prevailing caution ahead of key corporate earnings, the 30-share BSE benchmark Sensex declined 224 points or 0.34% to settle at 65,393. The NSE Nifty dropped 55 points or 0.28% to end at 19,384.
Six of the 13 major sectoral indices logged gains, with public sector banks rising 0.83%. The high weightage IT fell 0.71% and was the top sectoral loser.
Several brokerages have warned of a muted quarter for the IT sector as clients in the United States and Europe — two of the sector's largest markets — cut spending. From the Sensex pack, Infosys, Tata Motors, UltraTech Cement, HDFC Bank, NTPC, and IndusInd Bank closed in the red, while Kotak Bank, Asian Paints, Sun Pharma, Nestle, and Titan closed with gains.
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