IT shares in demand

Key barometers trimmed gains after hitting fresh intraday high in early afternoon trade. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 221.86 points or 0.63% at 35,191.56. The Nifty 50 index was up 65.35 points or 0.61% at 10,757.65. The Sensex was trading above the psychologically important 35,000 mark after opening above that level. Positive cues from other Asian stocks boosted investors' sentiment. IT shares witnessed buying momentum.

Overseas, Asian stocks edged higher as investors focused on a mix of ebbing geopolitical tensions, robust earnings and economic data. US stock benchmarks closed out little changed on Friday, 27 April 2018, as investors expressed muted enthusiasm following strong corporate results.

Back home, the market breadth, indicating the overall health of the market, was positive. On BSE, 1,377 shares rose and 1,017 shares fell. A total of 124 shares were unchanged.

Among secondary barometers, the BSE Mid-Cap index was up 0.51%, underperforming the Sensex. The BSE Small-Cap index was up 0.73%, outperforming the Sensex.

IT shares were in demand. MindTree (up 2.92%), Hexaware Technologies (up 2.26%), TCS (up 2.12%), HCL Technologies (up 1.69%), Wipro (up 1.62%), Infosys (up 1.35%), Persistent Systems (up 1.14%), Tech Mahindra (up 0.45%), Oracle Financial Services Software (up 0.37%) and MphasiS (up 0.25%), edged higher.

Pharmaceutical shares rose. IPCA Laboratories (up 2.84%), Wockhardt (up 2.21%), Lupin (up 1.44%), Dr Reddy's Laboratories (up 1.10%), Cadila Healthcare (up 0.99%), Aurobindo Pharma (up 0.96%), Cipla (up 0.88%), Sun Pharmaceutical Industries (up 0.75%), GlaxoSmithKline Pharmaceuticals (up 0.37%), Glenmark Pharmaceuticals (up 0.37%), Alkem Laboratories (up 0.32%) and Divi's Laboratories (up 0.23%), edged higher. Piramal Enterprises (down 0.4%) and Strides Shasun (down 0.53%), edged lower.

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