Market Starts On A Flat Note With A Negative Bias; IT Stocks Drag

Even as the SGX Nifty traded with marginal gains, in the pre-opening indices traded flat with a negative bias. And at start, Nifty held at 14543, while Sensex was at 49403. Meanwhile being weekly F&O expiry day, indices shall remain volatile.

Market Start On A Flat Note With A Negative Bias; IT Stocks Drag

Top gainers in early trade include IndusInd Bank, ONGC, Asian Paints, NTPC and HDFC BAnk, while losers have been Wipro, Infosys, HCL Tech, Tech Mahindra and Tata Motors.

Wipro on Wednesday reported a 21% YoY jump in profit as well as dollar guidance has been the highest in 9 years. The scrip has been dragged to Rs. 430 per share, a 6% fall in comparison to previous day's closing.

Infosys' net profit for the Q3 quarter of FY21 jumped 16% and on the back of it the company raises both full year revenue as well as margin guidance. Infosys has been trading weak by over 2.5% in early trade.

Meanwhile, Asian indices were trading firm after S&P in overnight trade ender higher with Nikkei up by over 1.5% at the time of writing this copy.

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