Markets are trading on a flat note this morning. The Sensex touched a high of 17,950 but could not hold on to gains and slipped into the red. The index touched a low of 17,892.
The Sensex recovered and is now at 17,937 - up 29 points.
The Nifty is up eight points at 5,387.
BSE IT index has gained 1% to 5,415 on heavyweight, TCS's numbers. Bankex and realty indices are up 0.5% each.
TCS has jumped 5% to Rs 823 on better-than-expected results. The company posted 24.3% jump in its consolidated (Indian GAAP) net profit at Rs 1,906 crore for the quarter ended June 30, as against Rs 1,534 crore during the same quarter of previous year. Reenue increased 14% y-o-y to Rs 8,217 crore during the recently concluded quarter.
ICICI Bank has gained 1.6% at Rs 897. Jaiprakash Associates and Tata Motors have added 1% each to Rs 130 and Rs 819, respectively.
Wipro, ACC, SBI and Reliance Infrastructure are the other top gainers this morning.
Meanwhile, HDFC Bank has slipped 1% to Rs 2,044. HDFC and Tata Power have dropped 0.7% each.
Hindalco, Jindal Steel, ITC and Reliance are down marginally.
BSE market breadth is positive. Out of 2,547 stocks traded, 1,597 have advanced while 857 have declined.
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