Benchmark stock market indices lost ground after opening higher on Tuesday as IT stocks continue to remain under pressure after a weak start to the Q4 earnings season.
The S&P BSE Sensex fell over 60 points to 59,845 at around 10:40 am, while the NSE Nifty was down 17.20 points at 17, 689.65. Earlier in the day, both the benchmarks rose for a brief period, signaling higher volatility.It may be noted that domestic markets fell after nine sessions yesterday, hurt by concerns related to IT stocks.
This came after two of India’s biggest IT services companies, Tata Consultancy Services and Infosys, reported weaker-than-expected results in Q4 and raised concerns about the future outlook.
