Markets Marginally Higher After Monday's Carnage

Benchmark indices opened the day marginally higher after the mayhem witnessed on Monday, even as Asian markets saw a good rebound in trade. The Nifty was trading with gains of 69 points at 14,380 points.

Shares in Tata Consultancy Services fell after the IT major's fiscal fourth-quarter profit rose 14.9% on year, in line with analysts' estimates, as the pandemic pushed demand for digital services. Net profit at the company rose to Rs 9,246 crore for the three months ended 31 March 2021, while revenue grew 9.4% on year to Rs 43,705 crore. The shares were down 2.80 per cent at Rs 3,155.

Yes Bank shares were marginally lower after the Securities and Exchange Board of India (SEBI) imposed a fine of Rs 25 crore on the Bank in the additional tier 1 bonds (AT1) mis-selling case. The stock was last trading at Rs 14.40 on the National Stock Exchange.
Shares in IDBI Bank were higher after reports that the Union Cabinet will soon consider the proposal to sell the government's 45.5% in IDBI Bank. The stock was up 2.5 per cent in trade at Rs 34.50.

Meanwhile, most Asian markets were trading with gains led by the Japanese Nikkei, which was up 1 per cent in trade.