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Nifty hovers around 10,350 mark; Infosys,Tech Mahindra up

Domestic indices oscillated between gains and losses noting tepid cues from global markets.

Global markets were weak after the latest US Federal Reserve meeting minutes raised doubts over the pace of interest rate hikes in 2018 as some members see inflation remaining below the target of 2% for a longer period.

As of 10:50 AM, Sensex gained by 39 points at 33,600 and the Nifty traded 17 points higher at 10,358.

The BSE Mid-cap is trading marginally higher by 0.26% at 16,828, and BSE Small-cap Index up by 0.82% at 18,001.

Among the Nifty50 index, Infratel, Tech Mahindra, IndusInd Bank, Sun Pharma and Eicher Motors were the other major gainers, whereas Dr.Reddy’s, Adani Ports, Asian Paints, Zee, Axis Bank and Kotak Mahindra were the major losers in today’s trade.

On the NSE, IT (+0.65%), Metal (+0.21%), and FMCG (+0.30%) sectors gained, while PSU Bank and Media (-0.21%) showed weakness.

India VIX is slipped by 0.51% at 13.96 level.

Among the 1,979 stocks being traded, 1,043 advanced, 525 declined and 411 remained unchanged.

Among specific stocks, shares of Hindusthan Urban Infra were down 5% after the company said that a blast at one of its unit will lead to delay in dispatches.

Nifty IT Index up 1%. Kpit (+3%), Tech Mahindra (+2%), Infy, HCL Tech (+1%).

Tata Teleservices mobile customers to start transitioning to Bharti Airtel’s network. Stock rises 2%.

Bhushan Steel stock gains 3% as Arcelormittal visits plants.

Thomas Cook stock jumps 4% as board approves Quess Corp stake sale.

Sun Pharma stake in ScPharmaceuticals reduces to 12.31% from 14.58% after latter’s IPO. Stock up 1%.

Jubilant Life stock rises 2% on plan to consolidate businesses.

Manaksia Steels stock up 2% as arm to buy Nigerian steel co.

Arrow Greentech secured patent for manufacturing embedded water soluble film carrier in U.S. Stock spurts 7%.

Healthcare Global Enterprises will issue 11.66 lakh shares at Rs 300 each on a preferential basis to Indgrowth Capital Fund 1 (AIF). Stock gains 2%.