Finance

Sensex little changed; Infosys gains

Sensex little changed; Infosys gains”

Benchmark indices namely Nifty ended Thursday's trade at 9,900 level gaining 6 points, whereas BSE Sensex closed higher gaining 24 points at 31,795 level. Infosys closed higher by 4.83% at Rs 1,022.30 per share.

Infosys drove gains in the Nifty IT index, which climbed as much as 1.4% in its biggest intraday percentage gain in almost a month.

United States stocks ended slightly firmer on Wednesday but off the day's highs as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are anxious about weak inflation.

Shares of Infosys, India's No. 2 software services exporter, rose as much as 3.6 percent after the company said on Wednesday its board would consider a proposal to buy back shares at a meeting later this month.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declining.

At 12.45 p.m., it rose by 26.55 points or 0.27 per cent to trade at 9,923.85 points.

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Global leads were not too supportive as Asian shares remained indecisive and European stocks opened lower despite easing tensions involving North Korea. BSE Small-cap index closed higher by 0.54% at 15,695.

GMR Infrastructure jumped 13.4% after India's Supreme Court on Thursday upheld a ruling of the Delhi high court that allowed Delhi International Airport Ltd, a unit of GMR Group, to put airport land to commercial use for non-aeronautical purposes.

Coal India, one of the worst performing stocks this year, rebounded 4.2% to 247.05 rupees, helped by an attractive dividend yield.

Hong Kong's Hang Seng Index slipped 0.30 percent by 3:09 p.m. HK/SIN as earnings reporting season continued.

"Andrew Holland, CEO, Avendus Capital Alternate Strategies believes the market could continue to consolidate in a narrow range of 9,800-10,000".



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