Share market update: IT stocks trade mixed; TCS down, but Tech Mahindra, Infosys rise

NEW DELHI: IT stocks were trading mixed in afternoon trade on Friday amid fluctuating Indian rupee.

The rupee swung between 72.48 and 72.66 in Friday's trade so far. The Nifty IT index was 0.36 per cent down at 15,961 around 1 pm.

Shares of Infibeam Avenues (down 53.41 per cent), KPIT Technologies (down 7.44 per cent), Mindtree (down 1.63 per cent) and Tata Consultancy Services (TCS) (down 0.27 per cent) were the losers in the IT index.

On the flip side, Wipro (up 1.90 per cent), Tech Mahindra (up 1.17 per cent), Infosys (up 0.97 per cent), Tata Elxsi (up 0.79 per cent), HCL Technologies (up 0.46 per cent) and OFSS (up 0.41 per cent) were trading with gains.

Equity benchmarks Sensex and Nifty were wobbly amid mixed global cues. European stocks were subdued on concerns around budget in Italy.

Benchmark NSE Nifty50 index was up 4 points at 10,981, while the BSE Sensex was up 69 points at 36,393.

Among the 50 stocks in the Nifty index, 27 were trading in the green, while 23 were in the red.

State Bank of India, HDFC, Wipro, HCPL and HDFC Bank were among the top gainers in the Nifty index.

YES Bank, Indiabulls Housing Finance, Bharti Airtel, Hero MotoCorp and Tata Steel were among the top losers in the Nifty pack of stocks.