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Most IT stocks decline

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A divergent trend was witnessed in mid-afternoon trade as the barometer index, the S&P BSE Sensex, was trading with small losses while the index was trading with minor gains. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 15.09 points or 0.04% at 38,570.26. The index was up 2.60 points or 0.02% at 11,586.90. Most IT stocks fell.

Investors are awaiting Q4 March 2019 earnings from India Inc which kick off from tomorrow, 12 April 2019. Voting for the first phase of the 2019 Lok Sabha elections is being held today.

Key indices were trading near flat line in early trade. Indices were trading with small gains in morning trade. Stocks hovered in a small range in mid-morning trade amid divergent trend in index pivotals. Shares were trading with tiny gains in afternoon trade.

The S&P BSE Mid-Cap index was up 0.01%. The S&P BSE Small-Cap index was off 0.05%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1099 shares rose and 1311 shares fell. A total of 177 shares were unchanged.

Most IT stocks fell. (down 1.02%), (down 0.64%), (down 0.83%) and (down 0.77%) fell. (up 0.21%), (up 0.8%) and (up 1.53%) rose.

dropped 1.64% ahead of its Q4 March 2019 results tomorrow, 12 April 2019.

(TCS) fell 0.97% ahead of its Q4 March 2019 results tomorrow, 12 April 2019. announced that it has partnered with Cloud to build that will help organizations accelerate their digital transformation and leverage data-driven insights that power superior customer experiences. The announcement was made after market hours yesterday, 10 April 2019.

Rail Vikas Nigam were trading at Rs 19.15, a premium of 0.79% over the initial public offer price of Rs 19. The stock debuted at Rs 19, at par with the initial public offer (IPO) price. So far the stock hit a high of Rs 19.75 and low of Rs 18.60. Rail Vikas Nigam is a Project Executing Agency working for and on behalf of (MoR).

On the political front, voting for the first phase of the 2019 Lok Sabha elections is being held today. Voting will take place in 91 Lok Sabha seats in 20 states and Union territories today. Elections will be held in seven phases from 11 April 2019 to 19 May 2019 and counting will take place on 23 May 2019.

Overseas, European stocks were trading lower Thursday, after leaders agreed to delay Brexit for up to six months. Talks between EU leaders and British culminated in a flexible extension of the U.K.'s departure from the bloc until 31 October 2019.

The European Central (ECB) kept its loose monetary policy stance and warned that threats to world economic growth remained. The central has already delayed its first post-crisis interest rate hike and raised the prospect of further supportive policy measures if a slowdown in the euro zone economy persisted.

Asian stocks were mixed after a dovish turn by the ECB and milder than expected US inflation. In US, led Wall Street slightly higher on Wednesday, as US inflation data proved to be benign and the minutes from the Federal Reserve's March meeting were unsurprising.

The Federal Reserve is likely to leave interest rates unchanged this year given risks to the US economy from a global slowdown and uncertainty over trade policies and financial conditions, according to the minutes from its March 19-20 policy meeting.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 11 2019. 14:32 IST
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