 "Markets trim early gains; Bharti Airtel down 3%")
Markets trimmed some of their early gains on profit taking at higher levels after stocks surged to five week highs on Wednesday after sharp decline in December WPI raised hopes that the RBI would continue to maintain status quo on key policy rates.
At 9:30AM, the 30-share Sensex was up 38 points at 21,328 and the 50-share Nifty was up 14 points at 6,335.
Asian shares were mixed after a firm opening on the back of robust U.S. data and upbeat earnings from Bank of America helped squash concerns of a slowdown in the world's largest economy following disappointing jobs growth in December.
Japan's benchmark Nikkei was up 0.4% while Hang Seng gained 0.2%. However, China's Shanghai Composite was down 0.1% while Straits Times was trading flat.
Capital Goods index was the top gainer among the sectoral indices on the BSE up 0.8% followed by Power and Metal indices.
Telecom scrips are under pressure after foreign brokerage houses have downgraded some of the frontline names. Bharti Airtel, Idea Cellular were down nearly 3%.
HCL Tech was up over 2% at Rs 1,366 after it posted a Q2 consolidated net profit of Rs 1,496 crore, up 5.7% q-o-q and 58.4% y-o-y. Consolidated revenue came it at Rs 8,184 crore, up 2.8% q-o-q and 30.4% y-o-y. EBIT was Rs 1,941 crore, up 2.4% q-o-q and 58.7% y-o-y.. The IT major reported consolidated dollar revenue of $1,321 million, up 4% q-o-q.
TCS was marginally up ahead of its third quarter earnings scheduled to be announced later today. The company is likely to deliver another industry-leading performance, a seasonally weak quarter notwithstanding. According to consensus Bloomberg estimates, TCS is likely to post revenue of Rs 21,407 crore, up 2.1 per cent sequentially. Net profit is pegged at Rs 5,124 crore, a sequential rise of 10.6 per cent; earnings before interest, tax, depreciation and amortisation margin is seen flat, at 31.4 per cent.
Coal India was up nearly 2% after the board announced a special interim dividend of Rs 29 per share.
Index heavyweight Reliance Industries was marginally up on recent reports that the company plans to acquire stake in Venezuela crude oil block.
Other Sensex gainers include, HDFC, L&T, HDFC Bank.
In the broader market, the BSE Mid-cap index was up 0.3% and the Small-cap index was up 0.4%.
Market breadth was positive with 750 gainers and 389 losers on the BSE.
At 9:30AM, the 30-share Sensex was up 38 points at 21,328 and the 50-share Nifty was up 14 points at 6,335.
Asian shares were mixed after a firm opening on the back of robust U.S. data and upbeat earnings from Bank of America helped squash concerns of a slowdown in the world's largest economy following disappointing jobs growth in December.
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MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% in early trade, though holding below its 200-day moving average.
Japan's benchmark Nikkei was up 0.4% while Hang Seng gained 0.2%. However, China's Shanghai Composite was down 0.1% while Straits Times was trading flat.
Capital Goods index was the top gainer among the sectoral indices on the BSE up 0.8% followed by Power and Metal indices.
Telecom scrips are under pressure after foreign brokerage houses have downgraded some of the frontline names. Bharti Airtel, Idea Cellular were down nearly 3%.
HCL Tech was up over 2% at Rs 1,366 after it posted a Q2 consolidated net profit of Rs 1,496 crore, up 5.7% q-o-q and 58.4% y-o-y. Consolidated revenue came it at Rs 8,184 crore, up 2.8% q-o-q and 30.4% y-o-y. EBIT was Rs 1,941 crore, up 2.4% q-o-q and 58.7% y-o-y.. The IT major reported consolidated dollar revenue of $1,321 million, up 4% q-o-q.
TCS was marginally up ahead of its third quarter earnings scheduled to be announced later today. The company is likely to deliver another industry-leading performance, a seasonally weak quarter notwithstanding. According to consensus Bloomberg estimates, TCS is likely to post revenue of Rs 21,407 crore, up 2.1 per cent sequentially. Net profit is pegged at Rs 5,124 crore, a sequential rise of 10.6 per cent; earnings before interest, tax, depreciation and amortisation margin is seen flat, at 31.4 per cent.
Coal India was up nearly 2% after the board announced a special interim dividend of Rs 29 per share.
Index heavyweight Reliance Industries was marginally up on recent reports that the company plans to acquire stake in Venezuela crude oil block.
Other Sensex gainers include, HDFC, L&T, HDFC Bank.
In the broader market, the BSE Mid-cap index was up 0.3% and the Small-cap index was up 0.4%.
Market breadth was positive with 750 gainers and 389 losers on the BSE.