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Indian stock market flat amidst boom in foreign markets, passion in IT and tech sector

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new Delhi. Indian stock market is seen under pressure even after the tremendous rise in foreign markets. Both the major market indices Sensex and Nifty 50 appear to be trading flat on the red mark. On the other hand, due to the boom in foreign markets, there is tremendous enthusiasm in the IT and tech sectors. The banking sector is on the red mark and consumer durables and capital goods are seeing a boom. All the big IT companies of the country, Wipro, TCS Infosys, HCA and Tech Mahindra are seeing a boom in the shares. On the other hand, HDFC Bank, HDFC, Coal India and Tata Motors are seeing a declining environment.

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Stock market flat
The stock market started in a flat manner this morning. The Bombay Stock Exchange’s flagship index Sensex was down 6.63 points at 46,883.71 points. While the National Stock Exchange’s major index Nifty 50 was trading at 13,736.80 points, down by 3.90 points. BSE Smallcap is trading down by 62 points and BSE Midcap is down by 42 points.

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IT and tech sector boom
On the other hand, there is a mixed response in the sectoral index. In the banking sector, bank exchanges are seeing a decline of 264 points. While the IT and tech sectors are seeing gains of 412 and 154 points respectively. The auto sector is trading down by 95 points. While the FMCG sector slipped by 24 points, the oil sector is witnessing a fall of 119 points. The metal sector is witnessing a decline of 99 points.

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Rising and falling shares
On the other hand, in the National Stock Exchange, Infosys shares are seeing a gain of 2.63 percent. While HCL Tech is trading at 2.55 per cent. Wipro, TCS and Tech Mahindra are seeing a gain of nearly 2 per cent. While the declining stocks HDFC Bank and HDFC are seeing a fall of 1.58 per cent and 1.36 per cent respectively. While shares of Coal India, ONGC and Tata Motors are seeing a decline of 1 percent.

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