Equity indices tumble on profit booking but IT stocks shine

Equity indices tumble on profit booking but IT stocks shine

Equity benchmark indices closed lower on Monday after choppy trading as traders booked profit after an initial spurt in the morning session.

At the closing bell, the BSE S-P Sensex was down by 97 points or 0.25 per cent at 38,757 while the Nifty 50 lost by 43 points or 0.38 per cent at 11,421.

Sectoral indices at the National Stock Exchange were mixed with Nifty financial service dipping by 1.8 per cent, private bank by 1.5 per cent and pharma by 0.8 per cent.

But Nifty IT jumped by 4.3 per cent, realty by 3.6 per cent and auto by 0.7 per cent.

Among stocks, Bharti Airtel dipped by 3.7 per cent to close at Rs 473.10 per share while Bajaj Finance lost by 3.2 per cent and Bharat Petroleum Corporation by 3.1 per cent