The market breadth was in favour of the declines with 764 stocks advancing while 923 declined and 359 remained unchanged. On the other hand, in the BSE, 1172 stocks advanced and 1370 declined and 131 remained unchanged.
The Indian equity market was trading on a positive note on Thursday morning with the Nifty adding 37 points at 10,454 mark while the Sensex was up 174 points or 0.51 percent.
The Nifty PSU bank index traded lower by over 3 percent as stocks like State Bank of India fell 1 percent while Allahabad Bank, IDBI Bank, Union Bank of India and Punjab National Bank were the other losers.
However, Nifty IT zoomed 4.6 percent and was the distinct outperforming sector led by Tata Consultancy Services which jumped over 4 percent while HCL Tech and Infosys which added over 3.5 percent each. KPIT Tech, Tata Elxsi and Tech Mahindra were the other gainers.
The top Nifty gainers included TCS and HCL Tech which jumped over 3 percent each while Infosys, Tech Mahindra and ICICI Bank were the other gainers.
The most active Nifty stocks included TCS and Infosys. ICICI Bank, up 1.2 percent while BPCL down over 2 percent were the other active stocks in the afternoon trade.
The top BSE gainers included Tata Sponge which jumped close to 14 percent while Kwality, Dish TV, Religare and Tata Consultancy Services were the other gainers.
Firstsource Solutions, GNA Axles, IPCA Labs, Jubilant Foodworks, MRF, Nestle, Tata Sponge and Titan Company were some of the few stocks that hit fresh 52-week high whereas Balrampur Chini, Gitanjali Gems, India Oil Corporation and Vakrangee hit new 52-week low.
The market breadth was in favour of the declines with 764 stocks advancing while 923 declined and 359 remained unchanged. On the other hand, in the BSE, 1172 stocks advanced and 1370 declined and 131 remained unchanged.