 "Markets continue positive trades, IT shares weaken")
Markets continued to trade in green, albeit off the day's high. The Sensex was up 157 points at 19337. Nifty was up 58 points at 5,895.
"Lack of pending positions in index heavyweights indicates a “low volatile” expiry. Stock-specific movement can be expected but no correction as such is expected later in the day," said Sahaj Agrawal, Deputy Vice-President (Derivative Research), Kotak Securities.
Meanwhile, the broader markets were underperforming the benchmark. The BSE mid-cap index has added 0.6% at 6,323. Small-cap index was up 0.3% at 6,070.
Meanwhile, the BSE oil & gas index added 2% at 8,888 followed by auto, metal and PSU indices.
Wipro shed 2.3% at Rs 335 after the company forecast weak sales at its technology division for the current quarter ending June 2013 last week. Wipro, India's third-largest software exporter by sales, forecast revenue of $1.58 billion to $1.61 billion for its IT services business for the quarter ending June quarter, compared with $1.59 billion March quarter.
TCS and Infosys - from the IT pack shed 1-2% each on continued fall in rupee. From the FMCG space, HUL shed 2% at Rs 470. HDFC Bank and BHEL were down 0.5% each.
On the other hand, Dr Reddy's added 4.2% at Rs 1984. NTPC was up 3%. Among other gainers were Tata Motors, Sterlite, Reliance and Maruti Suzuki. Market heavyweight- Reliance added 2.5% at Rs 824. Sterlite and GAIL were also in green.
SpiceJet has rallied 12% to Rs 34.90 on the Bombay Stock Exchange on back of heavy volumes after Abu Dhabi-based Etihad Airways said it is acquiring 24% stake in rival Jet Airways at over 30% premium to Jet's closing share price on Tuesday.
Petronet LNG has signed an initial agreement with Houston-based United LNG to buy 4 million tonnes of liquefied natural gas (LNG) a year for 20 years, a senior Petronet executive said on Thursday. The stock is up 2% at Rs 138.
Idea Cellular has moved higher by 4% to Rs 119 on the National Stock Exchagne (NSE) ahead of its Q4 (January-March) results today. Analysts on average is expecting 10% year-on-year (yoy) growth in revenue of Rs 5,863 crore and 14% yoy increase in net profit of Rs 273 crore from the telecom services provider.
"Lack of pending positions in index heavyweights indicates a “low volatile” expiry. Stock-specific movement can be expected but no correction as such is expected later in the day," said Sahaj Agrawal, Deputy Vice-President (Derivative Research), Kotak Securities.
Meanwhile, the broader markets were underperforming the benchmark. The BSE mid-cap index has added 0.6% at 6,323. Small-cap index was up 0.3% at 6,070.
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Meanwhile, the IT index weakened further and slipped 1.2% at 5,726. Selling pressure was also noticed in the consumer durables index - down 0.8%.
Meanwhile, the BSE oil & gas index added 2% at 8,888 followed by auto, metal and PSU indices.
Wipro shed 2.3% at Rs 335 after the company forecast weak sales at its technology division for the current quarter ending June 2013 last week. Wipro, India's third-largest software exporter by sales, forecast revenue of $1.58 billion to $1.61 billion for its IT services business for the quarter ending June quarter, compared with $1.59 billion March quarter.
TCS and Infosys - from the IT pack shed 1-2% each on continued fall in rupee. From the FMCG space, HUL shed 2% at Rs 470. HDFC Bank and BHEL were down 0.5% each.
On the other hand, Dr Reddy's added 4.2% at Rs 1984. NTPC was up 3%. Among other gainers were Tata Motors, Sterlite, Reliance and Maruti Suzuki. Market heavyweight- Reliance added 2.5% at Rs 824. Sterlite and GAIL were also in green.
SpiceJet has rallied 12% to Rs 34.90 on the Bombay Stock Exchange on back of heavy volumes after Abu Dhabi-based Etihad Airways said it is acquiring 24% stake in rival Jet Airways at over 30% premium to Jet's closing share price on Tuesday.
Petronet LNG has signed an initial agreement with Houston-based United LNG to buy 4 million tonnes of liquefied natural gas (LNG) a year for 20 years, a senior Petronet executive said on Thursday. The stock is up 2% at Rs 138.
Idea Cellular has moved higher by 4% to Rs 119 on the National Stock Exchagne (NSE) ahead of its Q4 (January-March) results today. Analysts on average is expecting 10% year-on-year (yoy) growth in revenue of Rs 5,863 crore and 14% yoy increase in net profit of Rs 273 crore from the telecom services provider.