D-Street Buzz: Nifty IT outperforms on weak rupee led by Infosys; Indiabulls Housing gains 3%

The Indian benchmark indices are trading on a positive note but has some off from the high point of the day with the Nifty50 up 21 points, trading at 10,220 while the Sensex gained 53 points at 33,944.

At 9:40 hrs, Nifty IT is the outperforming sector as the rupee has turned weak against the US dollar. The top gainers include Infosys, KPIT Tech, Tech Mahindra, TCS, Infibeam and Wipro.

Midcap index is up half a percent led by Cummins India, Ajanta Pharma, Dewan Housing Finance, Exide Industries, GMR Infra, Indraprastha Gas, NBCC and Voltas.

Selective PSU banks are also up with gains from Bank of Baroda, Central Bank of India, Punjab National Bank and Vijaya Bank.

From the BSE smallcap space, the top gainers are HG Infra which zoomed 14 percent followed Mohota Industries and Bombay Dyeing. The top losers are 8K Miles Software, Navin Fluorine and Simplex Infra.

From the BSE midcap space, the top gainers include Cummins India, Torrent Power and Edelweiss Financial Services. The top losers are Tata Global, Motilal Oswal and Emami.

The top gainers from NSE include Indiabulls Housing Finance, Infosys, UPL, Tech Mahindra and HDFC.

The top losers include Dr Reddy's Labs, Coal India, Zee Entertainment, Tata Steel and Adani Ports.

The most active stocks are DHFL, YES Bank, Indiabulls Housing, Tech Mahindra and Bank of Baroda.

Universal Cables is one of few stocks to hit new 52-week high on the NSE.

On the other hand, 34 stocks have hit new 52-week low including names like 8K Miles Software, Bharat Financial Inclusion, Emami and Tata Global Beverages among others.

The breadth of the market favoured the advances with 911 stocks advancing and 630 declining while 500 remained unchanged. On the BSE, 908 stocks advanced, 666 declined and 60 remained unchanged.

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