Benchmark indices opened marginally higher but immediately trimmed gains to trade flat. Gains seen in IT and metal stocks were offset by continued losses in public sector banks.

Benchmark indices opened marginally higher on Tuesday. Today’s gains were led by Infosys, TCS, ICICI Bank, HDFC and Bharti Airtel.

At 10:30 AM, the BSE Sensex was trading at 33,906, up 131 points, while the Nifty50 was ruling at 10,420, up 41 points.

In the broader market, the BSE Midcap and the BSE Smallcap indices gained 0.29% and 0.34% respectively.

Nifty PSU Bank was the leading loser among NSE indices and shed over 0.5%. PNB (down 2.7%%), Allahabad Bank (down 2.2%) and Union Bank (down 2%) contributed most to the losses.

RK Damani, promoter of D-mart, has bought 26.5 lakh shares of Fortis Healthcare at Rs144.35 per share through his company Derive Investments. This translates in 0.5% stake in the company. Stock slipped 6.5%.

Samyaktva Construction LLP bought 70,000 shares at Rs5,825 per share of Lakshmi Machine Works Ltd (LMWL) amounting to Rs40.8cr, as per bulk deal data uploaded on Monday by BSE. Stock soared 2%.

Rupee fell to 2-month low of 64.51 vs. the US dollar, against its previous close of 64.21, amid a broad strengthening of the greenback.

Volatility index, India VIX gained 1.89% at 16.9700.

Vedanta (+2.2%), Bharti Airtel (+1.4%), Hindalco (+1.3%), Tata Steel (+1.3%) and TCS (+1.1%) were the top gainers on Nifty50.

Adani Ports (-1.2%), Kotak Mahindra Bank (-1%), Infratel (-0.92%), Zee (-0.87%) and SBI (-0.84%) were the top losers in today’s trade.

A total of four stocks registered a fresh 52-week high in trade today, while 28 stocks touched a new 52-week low on the NSE.

source: indiainfoline.com