Infosys continues to be the star of the market today although the 50-share NSE benchmark
Nifty
has been slogging to stay afloat above the 6000 mark. There has been no
reaction to the November data for industrial production, which came in
at -0.1 percent versus a CNBC-TV18 poll of -0.64 percent.
CNX IT has so far maintained its momentum after
Infosys declared better-than-expected third quarter numbers. Infosys,
Wipro, TCS and HCL Tech were the top perormers on the Nifty rising 14.2
percent, 3.31 percent, 3.20 percent and 1.48 percent.
At 11.04 AM, the
Sensex was up 93.52 points or 0.48% at 19757.07, and the Nifty up 16.30 points or 0.27% at 5984.95.
Despite good numbers from Infosys and positive cues from the globe,
Indian Equity benchmarks have failed to revive themselves meaningfully.
S&P 500 closing at a five-year high, positive December exports data
from China and European Central Bank choosing to keep rates unchanged
have had no impact on the market so far.
Index heavyweight Hindustan Lever was trading at Rs 506.25 down 2.01%
from its previous close of Rs 516.65. and cigarette major ITC was
trading at Rs 276.40 down 1.6% from its previous close of Rs 280.90.
United Spirits remained down 1% as a few contingent agreements in the
USL-Diageo deal have not gone well with SEBI. Sources say that Sebi will
grant the permission for over 5500cr open offer only after a few
clauses are dropped from the agreement.
After a good run in the previous session, oil and gas stocks fell victim
to profit-booking. Reliance, ONGC, IOC, GAIL, OIL India, HPCL were
trading with a cut of 0.2 percent to 2 percent.
