Sensex pares some losses to reclaim 34K; Nifty above 10400

Share

Infosys Ltd shares fell as much as 6% after the company lowered its operating margin outlook and its plan to sell Panaya and Skava. Its stock was one of the biggest contributors to the losses in the Sensex pack.

Rising for the 8th straight session the Sensex zoomed over 100 points at while the Nifty reclaimed 10,500 level on Monday as the wholesale price-indexed (WPI) inflation softened in March.

In the broader market, the BSE Midcap was little changed, while the BSE Smallcap gained 0.4 per cent. Market breadth, indicating the overall health of the market, turned negative.

On Friday, both the indices ended in the green due to healthy macro-economic data, along with robust buying in metals, IT and healthcare stocks. 30-share BSE Sensex lost nearly 150 points to open below 34,000-mark, but the index soon mad e a comeback and was at 34,119.45, still 73.20 points down, at 9.30 am.

Mourinho wants strong Man United finish to secure second place
City are 16 points clear of second placed United , who can only take a maximum of 15 points from their remaining matches. United manager Jose Mourinho had long given up hope of winning the title, instead focusing on finishing second.

At 3.30 p.m., the NSE Nifty50 provisionally closed at 10,528.35 points - up 47.75 points or 0.46 per cent from its previous close.

Other major losers in the Nifty50 pack were Tata Motors, Wipro, Axis Bank, ONGC, NTPC, RIL, Dr Reddy's SBI, Bharti Airtel, ICICI Bank, Maruti Suzuki, Asian Paint and Tata Steel, falling by up to 1.54 per cent.

However, towards the middle of the session, revival of buying, spread over a broad front, helped wiping out initial losses and touched the day's high of 34,341.46 before settling higher by 112.78 points, or 0.33 per cent, at 34,305.43.

Hero MotoCorp (2.02%), Kotak Mahindra Bank (1.88%) and Adani Ports (1.85%) were the top gainers on Sensex.

Share