Sensex, Nifty trim losses; IT stocks rebound

MUMBAI: The Indian stock market's key indices, Sensex and Nifty, trimmed their losses in the afternoon session on Wednesday helped by a rebound in IT and infra stocks. The 30 stock S&P BSE Sensex was trading 103.34 points or 0.17 per cent down at 59,093.65 points at 1.55 pm against its previous day's close at 59,196.99 points.

Earlier, the Sensex started the day deep in the red at 58,789.26 points and slumped to 58,722.89 points in the morning session. The Sensex trimmed losses in the afternoon session rising to a high of 59,166.46 points.

The Sensex had closed 48.99 points or 0.08 per cent down on Tuesday. The broader Nifty 50 of the National Stock Exchange was trading 19.20 points or 0.11 per cent down at 17,636.40 points.

The Nifty started the day sharply down at 17,519.40 points and fell to a low of 17,484.30 points in the morning session against its previous day's close at 17,655.60 points. The Nifty had lost 10.20 points or 0.06 per cent on Tuesday.

Rebounds in IT stocks helped in trimming losses in the key indices. TCS was trading 0.72 per cent higher at Rs 3151.25. Wipro was trading 0.70 per cent higher at Rs 407.40. Infosys was trading 0.41 per cent higher at Rs 1461.30. UltraTech Cement surged 3.54 per cent to Rs 6729.75. Axis Bank, Nestle India, Bajaj Finance, Bajaj Finserv, Sun Pharma and Titan were among the major Sensex gainers.

Bharti Airtel slumped 1.78 per cent to Rs 747.75. IndusInd Bank, Mahindra & Mahindra, Maruti Suzuki, NTPC, ICICI Bank, Tata Steel and State Bank of India were among the major Sensex losers.