After beginning the session on a positive note, equity benchmarks are currently trading off their high points and are trading flat. The Nifty is well below 11,000-mark. Cuts are visible among all sectoral indices, with midcaps contributing the most to indices’ fall. The Nifty Midcap index is down over 1 percent.
Financials, pharmaceuticals, metals and IT stocks are trading in the red. Shares of Mindtree fell over 6 percent in the morning trade after its profit for Q1 fell 13 percent and its CFO resigned. Slower revenue growth guidance for Q2 could have also weighed on the stock. ONGC is the top gainer on the Sensex, up over 2 percent, after the Cabinet cut tax burden on the firm.
This content has been taken from- Money Control
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