Mid-Market Update: IT stocks fall the most

Markets in the very opening Friday traded marginally higher and gradually turned on flattish note and again quickly moved higher with rising vitality in trade.  However, the mid-market indicates strong fall in the indices with the Sensex trading lower by 181 points at 35,926 and the Nifty50 down 52 points at 10,769-levels.

Looking at the sectoral indices, barring Nifty FMCG and Nifty metal, all the sectoral spaces are trading in the red, wherein realty and IT sectors fall the most  upto 1.15 percent.

Shares of Emami were up 2.35 percent, while ITC and United Spirits and Jubilant Foodworks were also trading in the green on the index. On the other hand Marico, HUL, Tata Global were trading in the negative territory.

Shares of ITC gained 1.45 percent after CLSA maintained its BUY call on the stock and raised its price target to Rs 400 from Rs 390 earlier.

Shares of Eveready Industries continue sour by 15.16 percent at this time to Rs. 209.25 per share media report said that promoter BM Khaitan is likely to sell its stake in Eveready Industries.

Among 50-scrip compiled by the NSE, 33 stocks were trading in the red, while 17 were trading with marginal gains during 1.10 pm.