Sensex slips into red, down 29 pts in late morning deals

Mumbai, Aug 21 (PTI) The benchmark Sensex turned choppy in late morning deals to trade marginally lower by 29.48 points at 31,495.20 and the broader Nifty was trading below the key 9,850 level. The IT sector continued to suffer as index heavyweight Infosys extended losses by falling 3 per cent, despite share buyback announcement. The IT sector was followed by Teck, healthcare and realty segments, which also saw decline. However, buying in metal, bank and key financials cushioned the sentiment. The Sensex resumed higher at 31,609.93 and hovered between 31,641.81 and 31,458.26, It was quoting at 31,495.20 at 1050 hours, down 29.48 points, or 0.09 per cent, at 1050 hrs. The NSE 50-share Nifty was trading flat by 0.95 points, or 0.01 per cent, to 9,836.45 at 1050 hrs. Major losers were Infosys 3.09 per cent, HUL 1.14 per cent, Adani Ports 1.05 per cent, Lupin 0.92 per cent and Cipla 0.86 per cent. Notable gainers were Coal India 1.83 per cent, ONGC 1.21 per cent, ICICI Bank 1.18 per cent and Axis Bank 1.16 per cent. Foreign portfolio investors (FPIs) sold shares worth a net Rs 2,182.12 crore last Friday, as per provisional data released, while the Domestic institutional investors (DIIs) bought shares worth Rs 584.59 crore. Overseas, Asian markets witnessed a mixed trend amid geopolitical concerns as US-South Korea military drills begin. US equities closed off their session lows last Friday, after Steve Bannon, one of President Donald Trump's top advisors, left the administration.
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