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Markets pare early gains, Zensar Technologies drops over 8%

Shipping stocks such as slip GE shipping is down by 1.9%, Mercator is down by over 5% on the NSE.

Zensar Technologies slipped over 8% as the company posted not-so-good Q4 results on Wednesday. Zensar Technologies posted a consolidated revenue for the quarter came in at Rs. 743 crores, registering 5.5% QoQ decline.

Whereas the Nifty IT continues to remain under pressure, slipping below its 10,000 mark.

At 3 PM, the S&P BSE Sensex is trading at 30,118 up 175 points, while NSE Nifty is trading at 9353 up 47 points. A total of 133 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

The BSE Mid cap Index is trading down 0.4% at 14710, whereas BSE Small cap Index is trading down 0.8% at 15246.

Some buying activity is seen in realty, Power, Bankex, Auto and Capital Goods while Healthcare, Energy, Oil & Gas are showing weakness on BSE.

Hindalco, Wipro, Gail, HDFC and ITC are among the gainers, Bharti Infratel, Cipla, Indiabulls Housing Finance, Hero Motocorp and Power Grid are losing on the NSE.

The INDIA VIX is up 5.1% at 11.