Frontline IT stocks extend losses

The weakness in the IT counter deepened in the afternoon today with the frontline IT stocks extending their losses.

The depth of the loss could be judged by the fact that the CNX IT index emerged as the biggest loser among the sectoral indices on the NSE shedding about 297 points around 2.15 p.m.

HCL Tech , which came out with good numbers this morning, lost Rs 67.90 to trade at Rs 1,093.25.

TCS , in terms of value, was the biggest loser, down by Rs 101 to trade at Rs 2,114.40. MindTree was down by Rs 52.10 to Rs 1,326.95.

Tech Mahindra shed Rs 53.50 to trade at Rs 1530.10 and Infosys was down by Rs 85.40 to trade at Rs 3269.40

Even Wipro , which among the IT majors was the only stock in the green in the morning, slipped into the red, losing Rs 10.10 to Rs 500.50.

A few of the smaller IT stocks like KPIT, Info Edge and Polaris were in positive territory but barely.