Rudra Investment expert says Free Nifty Tips Due to heavy sell-off in the Information Technology (IT) sector, a large drop in the stock market on Wednesday was recorded. The Sensex closed at 35199.80 with a weakness of 274.71 points. The Nifty fell by 56.15 points to 10600.05 level. Compared to the dollar, IT companies, including TCS, Infosys, remained firmly on the market for a whole day by selling heavily in the rupee against the dollar.
Broken IT stocks up to 4% in rupees
A day before the high of two months of rupee came high, stocks of information technology (IT) companies got huge sales. Among the Nifty IT index, Tata Consultancy Services (TCS), 3.47 percent, Infosys 3.41 percent, Tech Mahindra 2.54 percent, Nittech 2.49 percent, HCL Tech 2.44 percent and Wipro closed 2 percent. Apart from this, stocks of small IT companies, which are outside the index, declined by up to 5 percent.
Dr. Reddys shares up 6.50 pc
Free Nifty Tips expert says In a case of patent infringement, Dr. Reddy's Laboratories has received great relief. The company said that in the case of a patent infringement filed by pharma company Indore on the sale of a generic drug in the US, the decision has been taken in favor of it. With this news, Dr. Reddy's stock opened with an 8% gain, although trading session ended 5.90% with the strength of close at Rs 2,594.75.
Drastic fall in US markets
One day before, there was a great decline in American markets. Dow Jones closed at a level of 24465 with 552 points i.e. 2.21 percent. At the same time, the Nasdaq dropped by 49 points to 2642 level. However, crude prices remained steady in the US.
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