Nifty holds 10,700 mark; TCS, Infosys up 2%


Equity tips:-



  • Markets have turned quite volatile in the early trades. After opening in a flat note and slipping at open, indices are back in the green thanks to smart gains in the PSU and Private banks.
  • At 9:56 AM, the BSE Sensex was trading at 34,857, up 86 points, while the broader Nifty50 index was ruling at 10,711, up 10 points.
  • Shares of IT companies extended their gains from the previous session as the Nifty IT index rose 1.7% in early trade, led by chart-topping gains in shares of Infosys and Tata Consultancy Services.
  • Shares of Sun Pharmaceutical Industries rose over 1% as the company said it has settled a US patent infringement case involving its generic version of anti-constipation drug Linzess.
  • GAIL India's stock was up over 1% as the company and Russia's Gazprom have renegotiated their long-term 2.5-mtpa liquefied natural gas supply pact.
  • However, gains were capped by an extended decline in shares of state-owned lenders as the Nifty PSU Bank index, down 0.4%, was the worst performing sectoral index.
  • Metal stocks also continued to be weak with the Nifty Metal index paring 0.3% in early trade.
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