Money on the markets
A maturing market amid the mayhem
The 30-share sensitive index swung from an intra-day high of 15,234 to an intra-day low of 14,955 and closed 128 points lower at 15,062.
The fifty-share Nifty ended 0.74 percent down to 4,469.
The fall in the Sensex was led by ICICI Bank, ITC and Infosys.
IT stocks felt some heat after a sharp rally triggered by better-than-expected Q1 June 2009 results by TCS, India’s top software services firm by sales.
The decline in IT stocks was led by TCS which fell 4.5 percent after surging over 15 percent on Monday. Infosys dropped 1.5 percent and Wipro was down 0.46 percent.
Engineering firm L&T beat forecast with strong quarterly numbers. Its shares closed 2.3 percent up.
After rising over 3 percent by mid-day, the Sensex pared gains and closed just 0.69 percent higher at 11,023 as investors booked profit ahead of the weekend.
Infosys Technologies, L&T and ICICI shares led the gains in the benchmark.
Unitech emerged as the star performer, surging over 20 percent. Unitech is looking to sell more stocks and assets, such as hotels and offices, to cut its high debt.