The BSE Sensex and NSE Nifty stayed flat, even after positive Asian cues. Banking & financials, auto, metals and oil & gas stocks were helping the market.
Country's third largest IT company by market cap said its profit after tax grew by 1.7% QoQ to Rs 1,481 crore, which is in-line with street expectations. However, the company's guidance for the first quarter of FY13 is almost similar to fourth quarter - it expects IT services revenues at USD 1.52-1.55 billion in April-June quarter, a growth of just 0.6% over January-March quarter revenues. The stock fell over 7% while rivals TCS and Infosys were down around 1%.
The BSE benchmark gained 21.40 points at 17,228.69 and the NSE benchmark was up 8 points at 5,230.50.
Index heavyweight and oil & gas producer Reliance Industries rose 0.7%. Top telecom operator Bharti Airtel jumped 2.6% on short covering after sharp fall in previous two sessions due to TRAI recommendations for 2G spectrum auction.
Bajaj Auto, country's second largest two-wheeler maker went up 2.2% whereas Hero Motocorp was up 0.5%. Four-wheeler makers Maruti and Tata Motors were up 0.75-1.4%.
Lenders State Bank of India, ICICI Bank and HDFC Bank moved up just 0.2-0.5%.
The market breadth turned positive - about two shares advanced for every share falling on the BSE. The BSE Midcap and Smallcap indices gained over 0.5%.
In the second line shares, Cox & Kings, Shriram City, GE Shipping, Wockhardt and 3M India shot up 3.5-4% while ING Vysya Bank, Prestige Estate, GRUH Finance, KSK Energy Ventures and CESC slipped 2-4%.
The BSE Sensex and NSE Nifty started of trade lower on Wednesday due to fall in technology stocks, but immediately recovered somewhat led by gains in banks, metals, oil & gas and healthcare stocks. Overall the indices were moving around their previous closing values.
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