Markets Open Flat; Infosys Top Nifty Gainer

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, June 1, 2015, 9:40 [IST]

It was a flat to positive start for the Indian markets which gained despite weakish global cues. The Sensex was up 6 points in trade, while the Nifty was down 2 points in trade.

Shares in Sun Pharma fell a huge 7 per cent after its Q4 numbers disappointed the street. This dragged other pharma stocks like Lupin also lower.

IT stocks were seeing good demand in early trade with Infosys among the top gainers with a rally of 1.5 per cent. TCS also continued to see buying support along with Wipro.

Banking shares continued to gain momentum ahead of the RBI's Monetary Policy on June 2, where the country's central bank is widely expected to cut interest rates.

Punjab National Bank, Yes Bank and State Bank of India were the top gainers from the Banking space. Larsen and Toubro which reported numbers that lagged estimates was down marginally in trade.

Jet Airways was trading lower after a hike in aviation turbine fuel was announced. BEML surged a good 8 per cent after the company reported a good performance.

The rupee continued to remain steady against the dollar at 63.80.

Meanwhile, markets across Asia were trading mixed with the Shanghai Composite and the Hang Sang rallying while most other stock markets were trading with losses.

GoodReturns.in