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Markets Trade Flat; Infosys Continues To Decline


Benchmark indices opened the day flat in trade, with most indices in Asia trading mixed. US markets saw some profit booking after the record close seen on Monday.


In Asia markets were mixed. The Japanese Nikkei saw some gains after the Yen lost ground against the dollar. In other markets, the Korean Kospi lost ground, while the Hang Sang gained ground.

Markets Trade Flat; Infosys Continues To Decline
The Sensex was trading with gains of 50 points, while the Nifty was higher by 9 points.

Infosys continued to lead declines and the stock lost another 1 per cent in trade. The stock had lost ground on Tuesday as well, after reports of the cancellation of a contract from the Royal Bank of Switzerland.

Hero Motor Corp and Axis Bank were the early gainers from the Nifty in trade. TCS, Sun Pharma and Cipla were the early losers from the space.

Just Dial continued to have a bad day in trade, despite a marginal increase in net profits. The stock was down more than 3 per cent at Rs 470.

Tree House and Zee Learn both saw their shares surge after the board of Tree House approved revised merger scheme with Zee Learn. Tree House and Zee Learn both rallied around 12 per cent in trade.


Meanwhile, the currency markets were closed for the Parsi New Year.

Read more about: sensex nifty
Story first published: Wednesday, August 17, 2016, 9:43 [IST]
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