Equity indices flat amid mixed global cues, IT stocks gain
Equity benchmark indices were flat with a positive bias during early hours on Friday but IT stocks surged ahead with some gains.
At 10:15 am, the BSE S&P Sensex was up by 64 points or 0.12 per cent at 51,596 while the Nifty 50 ticked higher by 19 points or 0.12 per cent to 15,192. Sectoral indices at the National Stock Exchange were mixed with Nifty IT up by 1.3 per cent and realty by 0.9 per cent. But Nifty FMCG was down by 0.8 per cent.
Among stocks, Wipro moved up by 2.4 per cent to Rs 447.50 per share. Infosys and Tech Mahindra gained by 1.8 per cent each while HCL Technology and Tata Consultancy Services edged higher by 0.9 per cent.
The other major gainers were Grasim, ICICI Bank, Reliance Industries and Hero MotoCorp.
However, diversified conglomerate ITC plunged by 3.4 per cent to Rs 218.60 per share after reporting a consolidated net profit of Rs 3,587 crore in Q3 FY21, down 11 per cent from Rs 4,050 crore year-on-year.
Energy majors Coal India, ONGC, GAIL and NTPC along with metal giants Tata Steel and Hindalco were also in the negative territory.
Meanwhile, Asian shares hovered just below a record high as mixed US economic data caused some investors to show restraint.
MSCI’s broadest index of Asia Pacific shares outside Japan fell by 0.03 per cent while shares in Tokyo were down by 0.32 per cent.
Markets in Greater China and most of southeast Asia were closed for the Lunar New Year holiday.