Sensex, Nifty rise in opening trade; Infosys up 1% 17/07/2017 09:27

The key benchmark belled the day in the positive terrain on Monday, tracking firm cues from Asian peers, amid rate cut hopes after fall in WPI and retail inflation in June within the target range of the Reserve Bank, which would put pressure on the central bank to cut the policy interest rate in August. Infosys shares were up 1 per cent after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. The company, however, continued to maintain its constant currency revenue growth guidance of 6.5 to 8.5 per cent.

At 09:25 hours, the 30-share benchmark index was trading at 32077.01, up by 56.26 points or by 0.18 per cent, and the NSE Nifty was at 9910.2, up by 23.85 points or by 0.24 per cent.

In the day’s trade so-far, Sensex touched intraday high of 32107.92 and intraday low of 32053.98, while the NSE Nifty touched intraday high of 9911.95 and intraday low of 9899.45.

The top gainers of the BSE Sensex pack were Wipro Ltd. (Rs. 265.80,+2.43%), Oil And Natural Gas Corporation Ltd. (Rs. 160.35,+1.14%), Reliance Industries Ltd. (Rs. 1547.00,+1.04%), ICICI Bank Ltd. (Rs. 300.80,+0.94%), Tata Motors Ltd. (Rs. 456.00,+0.91%), among others.

On the flip side, ITC Ltd. (Rs. 330.85,-1.88%), Axis Bank Ltd. (Rs. 510.85,-0.44%), Dr. Reddy's Laboratories Ltd. (Rs. 2700.05,-0.16%), State Bank of India (Rs. 291.30,-0.10%), Maruti Suzuki India Ltd. (Rs. 7550.00,-0.09%) were among top losers on the BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 1443, shares advanced were 975 while 399 shares declined and 69 were unchanged.