RELATED ARTICLES |
The 30-share BSE index provisionally ended up 0.64 percent or 109.28 points at 17,207.61 points with 16 components gaining.
The 50-share NSE index provisionally closed up 0.6 percent at 5,147.60 points.
Markets @ 10.50 AM
The BSE Sensex was little changed in flip-flop trade on Thursday morning, as Asian markets edged lower with investors fretting over tighter monetary policy in China.
Export-focused outsourcers rose on hopes of improving demand.
IT bellwether Infosys Technologies rose 0.6 percent while rivals Tata Consultancy Services and Wipro gained 0.5 percent and 0.8 percent respectively.
"There is more and more evidence that demand for IT services is growing and the larger companies clearly stand to gain," said Nitin Rakesh, CEO of Motilal Oswal's asset management business.
Infosys is seeing a rise in outsourcing deal flows due to a recovery in the global economy, its chief executive officer Kris Gopalakrishnan said on Wednesday.
By 10:50 a.m. (0520 GMT), the 30-share BSE Index was trading up 0.3 points at 17,098.63, with 11 of its components gaining.
Foreigners have been net buyers in seven sessions to March 9, pumping in more than $2 billion in Indian equities.
"A significant portion of inflows seem to be going into FPOs (follow-on public offers) and IPOs (initial public offers). So, the inflow may be getting split between the primary and the secondary market," Rakesh said.
Top iron ore minor NMDC's share sale worth up to $2.6 billion opened on Wednesday, while animation and gaming firm DQ Entertainment's initial public offer to raise up to 1.28 billion rupees was subscribed more than 84 times.
"People are accumulating right now after the run up last week than buying heavily in the market. After the positive announcements in the (federal) budget, a steep downside is ruled out," he added.
Aluminium producer Hindalco fell 1.2 percent as aluminium prices declined.
Tata Steel, world's eighth largest steel maker by output, also shed 0.4 percent on concerns rising iron prices may crimp its margins.
In the broader market, decliners almost matched the number of gainers in a volume of 97 million shares.
The 50-share NSE index was down 0.04 percent at 5,114.1.
STOCKS ON THE MOVE
* Infrastructure and construction firm Man Infraconstruction was listed at 338.60 rupees a share on the Bombay Stock Exchange, up 34.36 percent compared with its issue price of 252 rupees.
The stock was trading at 359.80 rupees.
* Gammon India climbed 2.9 percent to 235.50 rupees after the construction firm said late Wednesday it has been awarded a 6.32-billion-rupee project by Delhi Tourism and Transportation Development Corp.
MAIN TOP 3 BY VOLUME
* Man Infraconstruction on 5.9 million shares
* Texmo Pipes 4.2 million shares
* Suzlon Energy on 2.1 million shares
Markets @ 09.00 AM
The Bombay Stock Exchange benchmark Sensex shed over 38 points in early trade today as investors sold stocks to book profits at existing levels amid a mixed trend on other Asian bourses.
The 30-share index, which gained 45.79 points in the previous session, fell by 38.07 points, or 0.22 per cent to 17,060.26 points in early trade after rising to 17,125.05.
The wide-based National Stock Exchange index Nifty dipped by 11.95 points, or 0.15 per cent to 5,104.30 points.
Brokers said emergence of profit taking by funds as well as retailers and mixed trend on other Asian markets mainly dampened the trading sentiments.
They said a cautious approach adopted by major players, after recent run-up, also cast its shadow on the sentiments.
Hindalco fell by 1.14 per cent to Rs 160.90, Sterlite Industries by 1.06 per cent to Rs 795.20, Tata Steel by 1.02 per cent to Rs 604.75, HDFC Ltd by 0.59 per cent to Rs 2685, Hero Honda by 0.78 per cent to Rs 1,914.80 and Hindsutan Unilever by 1.65 pent to Rs 234.90.
Meanwhile, Japan's Nikkei up 0.89 per cent while Hong Kong's Hang Seng index was down 0.45 per cent in the morning trade today.
 Limited.JPG)
Post new comment