 "Markets come off day's high; Coal India dips 1%")
Benchmark share indices firmed up in late noon trades with financials gaining the most led by private banking major ICICI Bank.
At 2:25pm, the S&P BSE Sensex was up 104 points at 27,731 and the Nifty50 was up 29 points at 8,497.
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(Updated at 1:40pm)
Markets came off their day's highs as investors booked profits after sharp gains in the previous session which saw the benchmark indices registering their highest single-day gains since May 25.
At 1;40pm, the S&P BSE Sensex was up 86 points at 27,713 and the Nifty50 was up 25 points at 8,493. Among broader markets, BSE Midcap index was up 0.2% whereas the Smallcap index lost 0.2%.
The rupee edged lower by 2 paise to 67.15 against the dollar in early trade today on scattered demand for the American currency from importers.
Foreign instutional investors were net buyers in equities worth Rs 1,056 crore, as per provisional stock exchange data.
STOCKS
Financials continued to remain as the top gainers with HDFC, Axis Bank, ICICI Bank and HDFC Bank were up 0.4%-1.5% each.
ICICI Bank was up nearly 3% ICICI Bank after the private banking major in a release today said that S&P Global Ratings affirmed its 'BBB-' long-term issue ratings on the senior unsecured bonds issued by the Bahrain branch of ICICI Bank(foreign currency: BBB-/Stable/A-3).
Coal India was down 1.2%. The company in a release said its board has approved the buyback of 108,955,223 equity shares on a proportionate basis through the tender offer route at Rs 335 a piece.
IT shares witnessed profit taking after gains in the previous sessions. TCS and Infosys was down 0.2% each ahead of their first quarter earnings later this week.
Pharma shares also witnessed profit taking after recent gains. Sun Pharma, Cipla and Dr Reddy's Labs were down over 1% each.
Among key stocks, Quess Corp listed at Rs 500, a 58% premium against its issue price of Rs 317 per share on the National Stock Exchange.
Among other shares, Shriram EPC has gained 13% after the company said its board approved preferential issue of shares to the holding company and conversion of the working capital term loan of the lenders into equity shares.
Shares of Edelweiss Financial Services are up over 2% at Rs 81 after the company said it plans to enter the general insurance business.
