Nifty hovers around 9,900-mark; Infosys up 4% as Nilekani returns
At 0918 hours BSE Sensex was trading at 31,752.63, up 156.57 points or 0.50% while NSE Nifty was trading 9,893.75, up 36.70 points or 0.37%.
Domestic markets started the week on positive note. At 0918 hours BSE Sensex was trading at 31,752.63, up 156.57 points or 0.50% while NSE Nifty was trading 9,893.75, up 36.70 points or 0.37%.
At the time of opening, NSE Nifty touched 9,900-mark but failed to hold it.
On 30-share benchmark, among top gainers were Infosys (4.18%), NTPC (1.54%), ICICI Bank (1.01%), Adani Ports (0.92%) and HDFC (0.87%). Among top losers were Bajaj Auto (-1%), Dr Reddy's Lab (-0.94%), Tata Consultancy Services (-0.81%), Asian Paint (-0.65%) and Hero MotoCorp (-0.56%).
Motilal Oswal in its daily market outlook report said, "Nifty index opened positive but failed to hold above 9880 and remained in a small trading range of 30 points for the entire trading session. It formed a small bodied candle but was holding above previous day’s close of 9850 zones. Index has been making higher lows from last three trading sessions and now it has to continue to hold above 9820 to witness an up move towards 9928-9950. On the downside multiple supports are seen at 9775 and 9750 to hold the recent pull back move in the market."
Shares of Infosys will be in focus as Nandan Nilekani returned after eight years as its new non-Executive Chairman.
On global markets front, according to Reuters report, despite gains in energy shares across the region, Asia-Pacific stock indexes got off to a subdued start as investors waited to see how much damage the storm had inflicted.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose less than 0.1 percent, while Japan’s Nikkei slipped 0.1 percent.