Indian equity markets were trading range-bound with a positive bias on Thursday. There was good buying support in IT and power stocks while banking stocks witnessed selling pressure.
The 30 stock S&P Sensex of the Bombay Stock Exchange opened in the negative at 57,755.40 points and slumped to a low of 57,578.99 points in early morning trade. At 11.21 am, the Sensex was trading at 57,873.16 points, 0.12 per cent or 66.67 points higher from its previous day's close at 57,806.49 points.
The broader Nifty 50 of the National Stock Exchange was trading 0.1 per cent or 16.85 points higher at 17,230.45 points. The Nifty 50 opened in the negative at 17,201.45 points and slumped to a low of 17,146.35 points. The Nifty touched a high of 17,264.05 points.
There was good buying support in IT companies. Tech Mahindra jumped 1.72 per cent to Rs.1817.40. Wipro rose 1.62 per cent to Rs.714.80. HCL Technologies jumped 1.55 per cent to Rs.1312.
NTPC 1.79 per cent higher at Rs.125.25; Bharti Airtel 0.86 per cent higher at Rs.682.45; Dr Reddy's Laboratories 0.86 per cent higher at Rs.4872 and TCS 0.80 per cent higher at Rs.3720.95 were among the major Sensex gainers.
Fourteen of the 30 scrips that are part of the Sensex were trading in the red. Bajaj Finserv slumped 1.22 per cent to Rs.16043.90. State Bank of India 0.88 per cent down at Rs.450.25; Kotak Bank 0.76 per cent down at Rs.1751.20; Axis Bank 0.83 per cent lower at Rs.664.75 and Reliance Industries 0.68 per cent down at Rs.2386.70 were among the major Sensex losers.
( With inputs from ANI )
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