FIRST TRADE: Indices open in red; Sensex below 67,000, Nifty at 19,800 after weakness in IT stocks

Stock market today: The domestic equity market opened lower on Friday, July 21 after a guidance cut by Infosys. The NSE Nifty opened at 19,800, while the Sensex opened at 66,900 level. Last seen, the Nifty50 index was trading at 19,800.45, down 178.7 points, while the S&P BSE Sensex was trading at 67,080.99, down 664.83 points. Wipro, Infosys, HCL Tech open lower. 

Broader market 

The Nifty Midcap 100 traded 0.16 per cent lower, conversely, Smallcap 100 traded 0.30 per cent higher.

Sectoral watch

On the sectoral front, Nifty IT dragged the headline index and was trading over 3 per cent lower. On the flip side Nifty Bank, Auto, and Financial Services gave some support. Nifty Bank opened in the red but reversed gains minutes after. 

Buzzing stocks 

Nestle India opened nearly 1 per cent higher, L&T opened over 2 per cent higher after the company announced considering a buyback of shares, Kotak Mahindra Bank and IndusInd Bank opened nearly 1 per cent higher.  

On the other hand, Infosys opened nearly 8 per cent lower after the company cut its revenue guidance. TCS opened over 2 per cent lower. LTIMindtree opened 2 per cent lower and Hero MotoCorp opened nearly 1 per cent lower. 

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