Equity indices trade higher, IT stocks in focus

Equity benchmark indices moved up marginally during early hours on Thursday with traders showing buying interest in IT stocks.

At 10:15 am, the BSE S&P Sensex was up by 189 points or 0.36 per cent at 52,495 while the Nifty 50 ticked higher by 42 points or 0.27 per cent to 15,729.

Except for Nifty pharma and FMCG, all sectoral indices at the National Stock Exchange were in the green with Nifty IT gaining by 1 per cent and private bank by 0.6 per cent.

Among stocks, Tata Consultancy Services moved up by 1 per cent to Rs 3,296 per share. Infosys rose by 0.9 per cent to Rs 1,517 per unit.

JSW Steel, Tata Steel, Axis Bank and ICICI Bank too were in the green. However, those which lost were Eicher Motors, Cipla, Dr Reddy’s, Adani Ports and ONGC.

Meanwhile, Asian shares marked time as investors reassessed US Federal Reserve statements on inflation and looked to upcoming data for direction.

MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.1 per cent. Japan’s Nikkei rose slightly by 0.04 per cent.

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