For Quick Alerts
For Daily Alerts

Nifty trades flat; TCS rallies

 Nifty trades flat; TCS rallies
Kotak Mahindra Bank: Quotes, News
BSE 1499.80BSE Quote37.8 (-2.52%)
NSE 1498.90NSE Quote39.35 (-2.63%)
Infosys: Quotes, News
BSE 785.60BSE Quote7.55 (-0.96%)
NSE 785.40NSE Quote7.3 (-0.93%)
Markets which had a spectacular rally on Thursday were trading flat with some heavyweights like ITC and Reliance pulling the indices lower.

The Sensex was up 24 points in trade, while the Nifty lost 0.5 points in early trade. Among the Nifty stocks that saw maximum price damage was Kotak Bank which was down 4 per cent, while IndusInd Bank was down 1 per cent in early trade.

However, some other banking stocks like Bank of Baroda was up 1 per cent and Yes Bank too was up 2 per cent in early trade.

HDFC which had a spectacular rally on Thursday continued to grind higher along with HDFC Bank. Heavyweights, ITC and Reliance saw some profit booking in early trade and were marginally down.

Infosys continued to fall and was marginally down, while TCS was trading higher as a foreign brokerage upgraded the stock to buy with a higher price target.

The Mid cap index was trading higher with stocks like Tech Mahindra, Voltas, Opto Circuits and IFCI gaining in trade.

Metal stocks which so far had an excellent August month continued to rally on the back of buying support. Gainers from the pack were Tata Steel, Jindal saw and Steel Authority of India.

Meanwhile, markets in Asia were trading mostly trading higher except the Hang Sang and the Japanese Nikkei which were trading with marginal losses.

In India investors are likely to watch the GDP data which is due later today.

Read more about: sensex nifty
Story first published: Friday, August 30, 2013, 9:41 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more