The market is flat with some positive bias. The Sensex is up 25.04 points at 28734.91, and the Nifty is up 4.95 points at 8717.00.
IT stocks led by Wipro and Infosys are top gainers in the Sensex. NTPC, HUL and M&M are other gainers in the Sensex. Among the losers are Hindalco, Sesa Sterlite, Cipla, Tata Motors and Sun Pharma.
Further, foreign institutional investors turned net sellers in equities worth Rs 748 crore on Tuesday, as per provisional stock exchange data. They were also net sellers in the F&O segment to the tune of Rs 475 crore.
Infosys was up 1.2%. The IT major on Tuesday said that its business process outsourcing services subsidiary Infosys BPO has opened a centre in Puerto Rico, South America. Among other IT majors, TCS and Wipro were up 0.2-2% each.
Mortgage lender HDFC was up 0.8% on the back of shortcovering at lower levels.
Index heavyweight Reliance Industries was up 0.6%.
Meanwhile, FMCG major also rebounded after the recent correction. Hindustan Unilever was up 1.3% while ITC was up 0.4%.
In the telecom space, Bharti Airtel was down 1% after sharp gains of over 7% on Tuesday. However, Idea Cellular and Reliance Communications were up 0.8-1.8% each.
HCL Technologies was up nearly 3% after the company said it has fixed March 20 as record date for issue of bonus shares.
Among other shares, ABG Shipyard has dipped 5% to Rs 243 on BSE after the company denied the stake sale report and said that no such negotiations were taking place.
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