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The benchmark BSE Sensex fell in choppy trade on Thursday, reversing a two-day gain mainly due to selling in IT stocks. The 30-share BSE Sensex fell 64.66 points, or 0.10 percent, to end at 66,408.39. The index opened and initially rose to 66,577.60 points, but then fell to 66,342.53 points. The NSE's broader Nifty also fell 17.35 points, or 0.09 per cent, to close below 19,800 at 19,794. It moved between 19,772.65 and 19,843.30 points during intraday trade. Analysts said a sell-off in IT stocks following mixed results from IT major TCS dragged the major indices from the day's highs.
TCS, the country's largest software exporter, fell 1.89 percent on the day after it reported mixed results for the July-September quarter.
Its September quarter net profit was up 8.7 percent compared to the reference period and turnover 8 percent compared to the same period last year, but growth slowed compared to the previous quarter.
According to the brokerage firm, his actions were controversial.
Among the Sensex stocks, Infosys was the biggest loser, down 2.29 percent by the end of the day. HCL Technologies also fell 1.75 percent on earnings.
The benchmark was also loaded by gains in Bajaj Finance, Nestle, Kotak Bank, SBI, Bharti Airtel LandT and Asian Paints.
Maruti bucked the trend, rising 1.73 percent after strong retail sales in September. Electric network, MandM. JSW Steel and Tata Steel have also made progress. Asian markets, including Japan, China and Hong Kong, strengthened.
Hong Kong's Hang Seng rose 1.9 percent, Japan's Nikkei 225 gained 1.8 percent and South Korea's Kospi rose 1.2 percent. China's key Shanghai Composite index rose 0.9 percent.
Stock markets in France, Germany and the UK also rose ahead of the release of US inflation data.
Domestically, the Sensex gained 393.69 points, or 0.6 percent, to close at 66,473.05, while the Nifty gained 121.50 points, or 0.62 percent, to settle at 19,811.35. Foreign institutional investors (FIIs) continued to be net sellers as they sold shares worth Rs 421.77 crore, according to BSE data.