NEW DELHI: While all sectoral indices on NSE were in the red, The Nifty IT index was bucking the trend, backed by gains in index heavyweights HCL Tech and Infosys.
The Nifty IT index was trading 0.28 per cent up at 12,525 around 11:05 am (IST), with shares of HCL Technologies (up 1.07 per cent), Infosys (up 0.89 per cent) and Tech Mahindra (up 0.88 per cent) as the gainers.
However, shares of Tata Elxsi (down 2.19 per cent), KPIT Technologies (down 2.18 per cent), Oracle Financial Services Software (down 1.21 per cent), Infibeam Incorporation (down 1.13 per cent), Wipro (down 0.81 per cent), MindTree (down 0.35 per cent) and Tata Consultancy Services (down 0.21 per cent) were in the red in the index around the same time.
Equity benchmarks were in deep red following sell off in global stock markets amid growing concerns of trade war between the US and China.
The NSE Nifty50 index was down 114 points at 10,001, while the BSE Sensex was 364 points down at 32,642.
Among the 50 stocks in the Nifty index, 8 were trading in the green, while 42 were in the red.
Shares of Mahindra & Mahindra, Bharti Infratel and BPCL were in the green in the Nifty index.
Shares of Hindalco, YES Bank and Vedanta declined up to 3.76 per cent in the Nifty pack of stocks.