Sensex, Nifty Trade On Flat; IT Stocks Outperform Ahead Of TCS Earnings

By Administrator_India

Capital Sands

The Indian equity benchmarks were little changed on Thursday ahead of weekly expiry if index futures and option contracts as gains in information technology heavyweights like Infosys, TCS, Tech Mahindra and HCL Technologies were offset with losses in HDFC Bank, Hindustan Unilever, Bajaj Auto and ICICI Bank. Meanwhile, most of the Asian markets were trading lower as Japan’s Nikkei fell 0.55 per cent, Straits Times declined 0.37 per cent and Hong Kong’s Hang Seng fell 1.54 per cent after minutes of the Federal Reserve’s June policy meeting confirmed the world’s biggest central bank is moving toward tapering its asset purchases as soon as this year.
The Sensex was up 19 points at 53,074 by 9:28 am and Nifty rose 4 points to 15,883.

IT shares were outperforming in a flat trading session ahead of June quarter earnings by the country’s largest IT company TCS, due later in the day.