Markets Trade Higher, Infosys Tanks 4%

Benchmark indices were trading higher, with most of Asia trading mixed. Stocks in the Asia-Pacific region were mixed in morning trade, with Australia's jobs data for March beating expectations. Stocks in Mainland China fell, while shares in Japan were trading with gains.

The Sensex was trading with gains of 120 points, while the Nifty was up 52 points in trade. Shares in Dr Reddy's were in the limelight after Sputnik V was approved by the government. The stock was up more than 1 per cent in trade.

Shares in Infosys were down almost 4 per cent, after the company declared its results on Wednesday.

Infosys, India's second-largest IT services firm, posted a consolidated profit of Rs 5,076 crore for the quarter ended March 2021, impacted by poor margins but bolstered by revenue growth

Wipro was trading higher ahead of results to be declared later today. The stock was up 1 per cent in trade. Among the top gainers from the Nifty in trade were Hindalco, ONGC, UPL, Tata Steel and Adani Ports. Among the top losers in trade were Infosys, Mahindra and Mahindra and Tech Mahindra.

Meanwhile, the rupee was trading higher at 75.14 to the dollar. The currency has been extremely volatile over the last one week.