Sensex snaps 5-day winning streak, slides 199 points dragged by IT stocks
The 30-share BSE benchmark Sensex declined 199 points or 0.27% to settle at 73,129.
The broader NSE Nifty dropped 65 points or 0.29% to end at 22,032.
IT stocks took a breather, falling 1.3%, after jumping 7.1% in the last two sessions on the back of better-than-expected results from the top four software companies.
HCLTech, Wipro, Infosys, Tech Mahindra, and TCS were among the top Sensex losers, dropping between 1-2%.
Nifty Bank and financial services stocks were muted, ahead of the results of the top private lender and the highest weighted stock in Nifty 50, HDFC Bank, due later in the day.
Among individual stocks, Jio Financial Services closed 6.7% lower after the company reported a 56% sequential fall in consolidated net profit for the quarter ended December to Rs 294 crore.
Federal Bank and Bank of Maharashtra also declined post-December quarter results.
More to come....
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