Jul 17, 2012, 02.20 PM IST
Indian equity benchmarks were completely lacklustre in trade as ITC, Bharti, ICICI Bank and SBI were supporting the market whereas TCS, ONGC and auto stocks were under pressure.
Country's largest software services exporter Tata Consultancy Services tanked more than 2% while its rival Wipro gained over 1%.
Two-wheeler maker Bajaj Auto plunged nearly 3% ahead of first quarter numbers tomorrow. Commercial vehicle manufacturer Tata Motors and utility vehicle maker M&M were down 0.5-1% whereas Hero Motocorp and Maruti were flat.
State-owned oil & gas producer ONGC and power equipment manufacturer BHEL declined 0.5%-0.8%.
Among metals stocks, Sterlite Industries and Tata Steel fell over 0.6% whereas Jindal Steel and Hindalco gained 0.5-1%.
The BSE Sensex and NSE Nifty erased somewhat gains as the Indian rupee too trimmed gains. Asian markets too were trading off day's high - Shanghai, Nikkei, Straits Times, Kospi and Taiwan Weighted were up 0.3-0.6% while Hang Seng gained 1.6%.
The BSE Sensex gains 0.6 percent, while the 50-share Nifty advances 0.55 percent. Bargain-hunting after the indexes fell for the previous four consecutive sessions driving the gains.
Indian equity benchmarks continued to hold early gains due to buying interest in oil & gas, financials, FMCG, healthcare, power and metals stocks. The Indian rupee too appreciated by 49 paise to 54.81 against the US dollar.
The 30-share BSE Sensex started off trade with more than 100 points gap up following positive Asian cues on Tuesday. Banking, infrastructure, pharma and auto stocks were driving the market higher.
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