Sensex, Nifty open flat; PSU banks rise, IT cos slip

Domestic equity indices started 2018 on a subdued note, opening largely flat due to lack of significant triggers and weighed down by weakness in shares of information technology companies.

At 10:10 AM, the BSE Sensex was trading at 34,084, up 27 points, while the Nifty50 was ruling at 10,532, merely up 1 points.

Shares of technology companies succumbed to profit booking, after recent gains, as the Nifty IT index slipped 0.5% in early trade, led by near 1% losses each in Tech Mahindra, Tata Consultancy Services and Wipro.

Shares of public sector banks were among the top performers at the start of the session, boosted by government's capital infusion to some ailing lenders.

Maruti Suzuki Dec auto sales at 130,066 units vs 117,908 units, up 10.3%. Exports 10,780 units vs 11,494 units, down 6.2%.

The Nifty PSU Bank index climbed 0.4%, led by shares of Bank of India, which jumped 4% on Rs22.6-bn capital infusion.

Allahabad Bank were up almost 5% as the bank raised Rs500cr. In a notification to the exchanges, the bank said that it raised the money through private placement of Additional Tier 1 (AT 1) perpetual bonds.

The BSE Midcap and BSE Smallcap indices were up 0.43% and 0.56%, respectively.

Volatility index India VIX rose 1.56%.

IndiaBulls HF (+3%), SBI (+0.79%), IOC (+0.78%), BPCL (+0.73%) and Airtel (+0.63%) were the top gainers on Nifty50.

Infratel (-2%), Wipro (-1.3%), TCS (-0.97%), Hindalco (-0.91%) and Bajaj Auto (-0.81%) were the top losers in today’s trade.

Out of 2,014 stocks traded on the NSE, 1,036advanced, 545 declined and 433 remained unchanged today.

A total of 69 stocks registered a fresh 52-week high in trade today, while three stocks touched a new 52-week low on the NSE.


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