Sensex, Nifty trade flat; Wipro slumps post results

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 Sensex, Nifty trade flat; Wipro slumps post results
Benchmark indices opened the day flat in trade with select stocks reacting to their results. The Sensex was trading higher by 11 points, while the Nifty was up 3 points in trade.

Shares in IT major Wipro slumped almost 5 per cent, after the company's results disappointed the street. TCS and Infosys also traded lower following Wipro's results.

A host of PSU banks that are slated to declare their results today were trading marginally lower. Among these included names like Punjab National Bank, Allahabad Bank and UCO Bank.

SKS Microfinance rallied in trade after its results came in better than expected. Bharti Infratel was yet another stocks that gained ground following its results.

Shares in Ambuja Cements on the other hand was up marginally after its results were in line with street estimates. Mid cap stocks saw some selling pressure in trade with Biocon dropping as much as 5 per cent. Other stocks from the space that lost ground were Tata Chemicals and Mcleod Russell.

Nifty losers in trade were heavyweights including TCS, Reliance Industries and ICICI Bank. Metal stocks which had rallied on the back of strong date from China gave up some gains with Tata Steel and Sesa Sterlite among the losers.

Realty stocks were also having a mixed session in trade with Sobha gaining ground, while Oberoi Realty and DLF dropped.

Meanwhile, markets across Asia were also seeing a mixed session in trade with the Japanese Nikkei and the Seoul Composite gaining ground, while the Taiwan and Hang Sang indices were lower.

Read more about: sensex, nifty, wipro
Story first published: Friday, July 25, 2014, 9:30 [IST]
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