Mumbai:
The benchmark Sensex today plunged 202 points, dragged down by TCS, after robust earnings at the country's largest software services exporter failed to enthuse investors.
TCS contributed about 92 points to the drop in the Sensex, while ICICI Bank, HDFC Bank and Axis Bank also pulled it lower. Wipro and HDFC were among the 18 Sensex stocks that fell.
Reliance Industries gave up gains of as much as 1.3 per cent to end 0.07 per cent lower ahead of its earnings announcement.
Nine of the 12 BSE sectoral indices declined, led by IT, realty and bank shares.
The 30-share S&P BSE Sensex hovered in negative terrain for most of the day before closing down 201.56 points, or 0.95 per cent, at 21,063.62.
It was the second day of losses for the Sensex. Over the past five days, however, the index added 305 points, the biggest gain in four weeks.
The 50-share CNX Nifty on the National Stock Exchange dipped by 57.25 points, or 0.91 per cent, to 6,261.65.
Tata Consultancy Services late yesterday declared a 50.3 per cent jump in December quarter net profit. The company does not expect the domestic market to turn around before the September 2014 quarter because of the general elections.
"TCS was also down by over 5 per cent post its Q3 results as despite good results, its margins were lower quarter on quarter basis," said Rakesh Goyal, Senior Vice President at Bonanza Portfolio Ltd. "Telecom stocks continued the selling pressure from last trading day and traded weak."
