IT, Financial Services Stocks Hit The Hardest In Friday's Sell-Off

Indian indices in trade on June 10 are in heavy pressure with Nifty tumbling to 16,200 levels. Broader markets are still performing better. This is largely on global weak cues and as investors await key data in the US.

Among Nifty sectoral indices, the sell-off is broad based with a sea of red seen across sectors. As of writing this copy, the most weighed down sectors from the sell off are Nifty IT, financials services which are both down by over 2%. Followed by pressure in the private banking, metals, media, realty among others.

Among the financial services stocks the most beaten down or stocks close to their 52-week low are ICICI General Insurance, Muthoot Finance, PFC, REC, HDFC AMC, HDFC, HDFC Bank, Axis Bank and Piramal Enterprises.

While from the IT pack, Coforge, Wipro, HCL and Infosys are trading near their 52-week low. The IT sector is even bearing the brunt despite the rupee being under pressure and depreciating to a new low in trade today. This in an otherwise scenario bodes well for IT stocks.