Sensex wipes gains to fall 150 pts; IT stocks hold gains

Equity benchmark indices erased opening gains and turned lower Monday as trade elsewhere in Asia remained muted with most markets closed on account of the Lunar New Year. The BSE Sensex was down 150 points to 71,442 and the NSE Nifty50 fell 53 points to 21,726.

Wipro, HCLTech, Infosys, Tech M and TCS held the spots of lead gainers on the Sensex, while Dr Reddy’s and Divi’s Labs were the additional winners on Nifty.

On the flip side, Power Grid, Bharti Airtel, NTPC, Hero Moto, ONGC and Coal India were the top frontline losers.

The BSE MidCap and SmallCap indices rose up to 0.27 per cent.

Among other stocks, Gensol Engineering jumped 5 per cent as its consortium with Matrix Gas won the PLI scheme bid for hydrogen electrolyser manufacturing.

Mamaearth owner Honasa Consumer’s share soared 9 per cent before paring gains after its Q3 profit jumped 265 per cent YoY to Rs 26 crore.