Benchmark indices trade higher with a positive bias
Nifty IT stocks continue to gain upward momentum as TCS, NIIT Tech surges 1% each, backed by fresh long buildup.
Markets open on a flat note. Nifty IT stocks continue to gain upward momentum as TCS, NIIT Tech surge 1% each, backed by fresh long buildup. The BSE Sensex was up 46.40 points at 34,547.67 and the NSE Nifty rose 5.40 points to 10,575.90.
The BSE Midcap and the BSE Smallcap indices are trading in the green and marginally higher.
Wipro fell as much as 4.6% to Rs274, after weak March quarter earnings, which missed estimates widely.
Zydus Cadila has received final approval from the US Food and Drug Administration to market Methylprednisolone tablets USP.
Emami gained 7.3%. The company said in a stock exchange filing that it plans to consider bonus shares and a dividend at a board meeting on May 3.
PowerGrid (+0.92%), HUL (+0.26%), ICICI Bank (+0.22%), RIL (+0.15%), SBI (+0.13%) were the top gainers on the NSE.
Yes Bank is trading marginally higher and Axis Bank trading lower ahead of earnings later in the day.
Wipro (-3.26%), HCL Tech (-1.11%), Adani Ports (-0.68%), TechM (-0.57%), Axis Bank (-0.51%) were the top losers on the NSE.
Out of 2,043 stocks traded on the NSE, 640 advanced, 1003 declined and 400 remained unchanged today.
A total of 34 stocks registered a fresh 52-week high in trade today, while 53 stocks touched a new 52-week low on the NSE.
G-Secs slipped on selling pressure from banks and corporates. The 7.17% 10-year benchmark bond maturing in 2028 slid to Rs 96.1575 from Rs 96.52, while its yield rose to 7.74% from 7.68%.
Markets erased opening loses as an expectation of optimistic earning season offset rising bond-yield fears. The Dow Jones rose 0.25% to 24,084, while the Nasdaq continued to end in the red for the fifth day in a row, shedding 0.05% to close at 7,004. European markets ended lower with FTSE closing 0.62% lower, CAC was down 0.57%, while the DAX ended 1.03% lower.