IT stocks TCS, Infosys and Wipro are down 1-2 percent each. Among other losers include Dr Reddy’s Labs and ONGC. Sesa Sterlite, M&M, ITC, Tata Power and L&T are top gainers in the Sensex.

The sharemarket has slipped into red as IT stocks drag. The Sensex is down 61.06 points at 28501.76, and the Nifty is down 15.80 points at 8548.60. About 1391 shares have advanced, 1319 shares declined, and 123 shares are unchanged. IT stocks TCS, Infosys and Wipro are down 1-2 percent each.

Among other losers include Dr Reddy’s Labs and ONGC. Sesa Sterlite, M&M, ITC, Tata Power and L&T are top gainers in the Sensex. Manufacturing and services sectors in India expanded at a faster pace than China in November, even as emerging market output slipped for the second consecutive month to a six-month low, a HSBC survey said today. The HSBC Emerging Markets Index (EMI), a monthly indicator derived from PMI surveys, slipped for the second month running to 51.2, signalling the weakest rate of expansion since May.

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