Nifty Opens Tad Higher; ITC Sinks Over 3%, IT Stocks Gain

Indian indices after closing at record high in the previous session opened higher. At 9:15 am, Nifty was at 15183, while Sensex was up by 0.13 percent at 51600. Nifty Bank was also trading higher with gains of 0.3 percent. Meanwhile, broader markets lagged the benchmark indices by a tad.

Nifty Opens Tad Higher; ITC Sinks Over 3%, IT Stocks Gain

Wipro, Power Grid, Infosys, HCL Tech and Sun Pharma are among the major gainers in early trade, while laggards included ITC, Maruti Suzuki, Bharti Airtel, ONGC and Axis Bank. Sectorally, Nifty IT was the outlier in trade with gains of over 1 percent.

ITC scrip in early trade lost the most by as much as 3.3% after reporting 11 percent decline in Q3 profit YoY at Rs 3,587 crore. Also the board declared an interim dividend of Rs 5 per share for the current financial year.

Indigo shares also ticked higher after the government raised fair price band and because of it airfares shall see an hike by up to 30 percent.

Also, Asian markets were trading with losses with Japan down in trade at the time of writing this copy. US stock futures also showed weakness on all of the 3 major indices.

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