Sensex slides as selloff intensifies...Nifty around 5550
Selling in the Indian stocks has intensified in late afternoon trade, with the BSE Sensex and the NSE Nifty down almost 1% each. The non-index counters have also witnessed some selling pressure, dragging the overall market breadth into the negative territory.
At 02:45 pm (IST), the BSE Sensex was trading at 18,508, down 145 points or 0.78% over the last close. It had touched the day's high at 18, 765 and day's low at 18,473 with the opening of Rs. 18,756.
The NSE Nifty on the other hand was quoting 5,566, down 47 points or 0.85% after touching a high of 5,645 and a low of 5,555.
Analysts, brokers negative on Wipro, stock down 4%
India's third largest IT company Wipro reported in-line numbers today but analysts were disappointed with the muted guidance for the second quarter. IT earnings have been a mixed bag this quarter, with both Wipro and Infosys reporting lower than expected guidance. TCS, country's largest IT exporter, does not give out guidance but it remained the only big IT company to not take a hit on margins because of wage hikes in the first quarter
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