Sensex, Nifty remain in red zone; Axis Bank down 2%

Axis Bank

The market continued to be in the red, but did not witness much of a fall after its morning plunge. The Nifty was managing to hold on to its 9100-mark.

The Sensex was down 132.84 points at 29516.15, while the Nifty was down 31.95 points at 9128.10. The market breadth was negative as 1,251 shares advanced against a decline of 1,423 shares. About 199 shares remained unchanged.

HCL Technologies shares hit a fresh 52-week high of Rs 879.15 on Monday, up 1.6 percent ahead of board meeting to consider a buyback proposal.

“A meeting of the board of directors of the company will be held on March 20, to a proposal for buyback of the equity shares of the company. Trading window for trading in the securities will remain closed up to the close of business on March 22,” the IT firm said in its filing on March 15.

Infosys, Axis Bank and Idea Cellular led the list of top losers, while BHEL, NTPC, Tata Power and Eicher Motors were the top gainers.

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