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Sensex, Nifty open higher led by gains in IT stocks; HDFC slips

Domestic share indices started today’s session on a marginally positive note, tracking a similar trend in most Asian markets and led by gains in shares of information technology, media and fast moving consumer goods companies.

However, gains were limited due to lack of significant triggers and as India’s trade deficit in December widened to a three-year high. The broader action remained largely stock specific as investors react to Oct-Dec corporate earnings.

At 9:42 AM, the BSE Sensex was trading at 34,915, up 72 points, while the broader Nifty50 index was ruling at 10,755, up 14 points.

Information technology stocks were the strongest today, with the Nifty IT Index rising over 1%, led by surge in shares of Tech Mahindra, Wipro and Tata Consultancy Services.

Shares of Housing Development Finance Corp fell over 1% on profit booking after gaining more than 6% on Monday.

Shares of oil and gas companies were among the weakest as the Nifty Energy Index slipped 0.3%, with shares of Bharat Petroleum Corp, down 1.5%, being the worst hit on Nifty50.

The BSE Mid-cap and BSE Small-cap indices were down 0.17% and 0.04%, respectively.

Volatility index India VIX gained 1.06%.

HCL Tech (+2.9%), Tech Mahindra (+2.5%), Wipro (+2.1%), TCS (+1.7%) and Infosys (+1.5%) were the top gainers on Nifty50.

BPCL (-1.6%), HDFC (-1.5%), IOC (-0.99%), Asian Paints (-0.9%) and RIL (-0.79%) were the top losers in today’s trade.

Out of 2,008 stocks traded on the NSE, 691 advanced, 867 declined and 450 remained unchanged today.

A total of 70 stocks registered a fresh 52-week high in trade today, while one stock touched a new 52-week low on the NSE.