 "Markets turn flat after higher opening; Infosys surges 2%")
Markets have turned flat after making a higher opening post IT bellwether Infosys appointed former SAP executive Vishal Sikka as the CEO and MD of the company. Sikka will take over from August 1, 2014.
Infosys has trimmed gains on account of profit booking at higher levels. The stock is up 1.58% at Rs 3,229.
By 9:35, the Sensex has opened higher by 79 points at 25,552 mark and the Nifty gained by 8 points at 7,634 levels.
US stocks fell on Wednesday, with the Dow breaking a four-day string of record closing highs, following the World Bank's reduction of its global growth forecast.
The S&P 500's drop of 0.4% was its biggest daily percentage loss since May 20. The benchmark index fell for the second day in a row, after four straight record closing highs.
Back home, foreign portfolio investors (FPIs) sold shares worth a net Rs 313.40 crore on Wednesday, as per provisional data from the stock exchanges.
On the sectoral front, BSE IT and Healthcare indices have gained nearly 1% each. However, sectors like Banks, Realty, Power, Metal and Consumer Durables have declined by 1% each.
Infosys has opened higher by nearly 3% at Rs 3,280 on the NSE after the board has appointed former SAP executive Vishal Sikka as the Chief Executive Officer and Managing Director (CEO & MD) of the company. Sikka will take over from August 1, 2014.
Other notable gainers are Sun Pharma, ONGC, HDFC, Wipro and L&T.
On the losing side, Bharti Airtel, Axis Bank, BHEL, Coal India and Hero Moto have declined between 1-3%.
Axis Bank turns ex-dividend today for dividend of Rs 20 per share for the year ended 31 March 2014 (FY 2014).
Housing Development and Infrastructure (HDIL) has dipped 4% to Rs 96.35, extending its previous day’s 9% fall, after Nomura Singapore offloaded more than 2 million shares of the Mumbai-based real estate firm through an open market transaction.
The broader markets are under performing the benchmark indices- BSE Midcap and Smallcap indices down 0.2-0.3%.
The market breadth in BSE remains neutral with 843 shares advancing and 826 shares declining.
Infosys has trimmed gains on account of profit booking at higher levels. The stock is up 1.58% at Rs 3,229.
By 9:35, the Sensex has opened higher by 79 points at 25,552 mark and the Nifty gained by 8 points at 7,634 levels.
More From This Section
On the global front, Asian shares slipped on Thursday after US stocks stepped back from record levels on Wednesday while civil war in Iraq supported oil prices. Key benchmark indices in China, Indonesia, Japan, Taiwan, South Korea and Hong Kong were off 0.25% to 0.77%. Singapore's Straits Times rose 0.01%.
US stocks fell on Wednesday, with the Dow breaking a four-day string of record closing highs, following the World Bank's reduction of its global growth forecast.
The S&P 500's drop of 0.4% was its biggest daily percentage loss since May 20. The benchmark index fell for the second day in a row, after four straight record closing highs.
Back home, foreign portfolio investors (FPIs) sold shares worth a net Rs 313.40 crore on Wednesday, as per provisional data from the stock exchanges.
On the sectoral front, BSE IT and Healthcare indices have gained nearly 1% each. However, sectors like Banks, Realty, Power, Metal and Consumer Durables have declined by 1% each.
Infosys has opened higher by nearly 3% at Rs 3,280 on the NSE after the board has appointed former SAP executive Vishal Sikka as the Chief Executive Officer and Managing Director (CEO & MD) of the company. Sikka will take over from August 1, 2014.
Other notable gainers are Sun Pharma, ONGC, HDFC, Wipro and L&T.
On the losing side, Bharti Airtel, Axis Bank, BHEL, Coal India and Hero Moto have declined between 1-3%.
Axis Bank turns ex-dividend today for dividend of Rs 20 per share for the year ended 31 March 2014 (FY 2014).
Housing Development and Infrastructure (HDIL) has dipped 4% to Rs 96.35, extending its previous day’s 9% fall, after Nomura Singapore offloaded more than 2 million shares of the Mumbai-based real estate firm through an open market transaction.
The broader markets are under performing the benchmark indices- BSE Midcap and Smallcap indices down 0.2-0.3%.
The market breadth in BSE remains neutral with 843 shares advancing and 826 shares declining.