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Markets firmed up in late trades with IT majors gaining the most led by TCS which announced better-than-expected first quarter earnings.
At 14.30 PM, the S&P BSE Sensex was up over 100 points at 25,671 while the CNX Nifty gained around 29 points at 7,671.
The broader markets traded mixed as the BSE Mid-cap index slipped 0.2% while Small-cap index gained 0.8%
Market breath at the BSE was negative with 1457 declines and 1330 advances.
RUPEE:
The rupee falls to a session low of 60.29 as sentiment for emerging markets sours after news of a downed Malaysian airlines jet at the Ukraine-Russia border sent investors into defensive assets.
GLOBAL FRONT:
Asian markets were trading lower as the news of the Malaysian Airlines jet crash continued to dampen investor sentiment. The Nikkei ended registered its highest single-day drop in three weeks to end 1% lower at 15,215.71, Shanghai Composite was trading with marginal gains while Hang Seng was down 0.5% and Straits Times was trading 0.2% lower.
European markets were trading lower as investors turned stayed away from riskier assets over the escalating tensions while the Malaysian Airline jet crash also weighed on market sentiment.The CAC-40, DAX and FTSE were trading 0.2-0.5% lower.
SECTORAL & STOCKS:
The BSE IT index was the top sectoral gainer up nearly 2% followed by counters like Bankex and Capital Goods, all up nearly 0.5% each.
The BSE Power index was the top sectoral looser followed by the Realty index, both slipped over 1%. Other sectoral that traded negative are Oil & Gas, Consumer Durables, Healthcare, Metal, FMCG and Auto, all losing between 0.10-1% each.
TCS was the top Sensex gainer with scrip surging over 3% after reporting a better-than-expected consolidated net profit of Rs 5,058 crore for the quarter ended June 2014 (Q1).
Wipro, HCL Technologies, Tech Mahindra and Persistent Systems from the frontline IT stocks are up 1-4%, while R S Software, Mastek, Zensar Technologies, Rolta India, Infotech Enterprises and Polaris Financial Technology have gained between 2-5%
At the banking front, ICICI Bank gained nearly 1.5% while the Axis Bank edged up nearly by 0.6%. Futhermore, SBI traded lower by over 1%.
Among auto shares, Hero Motocorp and M&M gained between 0.5-1.5% each while Maruti Suzuki and Bajaj Auto losing over 1%.
Metal shares slipped on profit booking with Hindalco and Sesa Sterlite trading in red.
Among other shares, Seamec has locked in upper circuit of 10% NSE after the company said it has got US $ 15 million order from ONGC.
Advani Hotels and Resorts (India) has moved higher by 10% to Rs 87.80, bouncing back 20% from its intra-day low on the NSE. The stock has appreciated more than 100% in current week, recorded huge trading volumes activity on media reports that ITC Ltd's hotel division ITC Hotels is close to acquiring its property in Goa.
Muthoot Finance has rallied 8% to Rs 193 on back of heavy volumes on BSE, after the company said it would apply for a small bank license.
