Sensex volatile; defensives gain, IT stocks lag

Reuters Market Eye - The BSE Sensex and the Nifty are flat in choppy trade. Gains are led by Reliance Industries Ltd, up 1.45 percent, and Bharti Airtel Ltd, which rises 3.5 percent, on value buying.

However, gains are offset by losses in IT stocks such as Infosys Ltd , down 1.04 percent, on concerns ahead of Friday earnings and as weak U.S. nonfarm payrolls raised questions about the health of the U.S. economy, the sector's biggest revenue generator.

Buying seen in defensive names such as Sun Pharmaceutical Industries Ltd , Cipla Ltd and Hindustan Unilever Ltd , which rise 1-2.5 percent, as caution prevails on continued selling by foreign funds over the last three sessions.

 

(Reporting by Subhadip Sircar)