Sensex falls over 100 pts, Nifty holds 8200; IT stocks skid
The market has opened weak but the Nifty is holding 8200. The 50-share index is down 36.40 points or 0.4 percent at 8225.35 and the Sensex is down 86.61 points or 0.3 percent at 26660.57. About 199 shares have advanced, 99 shares declined, and 29 shares are unchanged.
IT stocks are under pressure. TCS, Infosys, Wipro are major losers in the index as US President-elect Donald Trump on Friday pledged to stop companies from abusing the visa process for foreign workers in a way that undermines the labour market for Americans. Axis Bank, Asian Paints, Wipro and HDFC Bank are losers in the Sensex. Among gainers are ONGC, SBI, Sun Pharma, Dr Reddy's and HDFC are gainers in the Sensex.
The currency market is shut today on account of Id-e-Milad.