Markets continue to maintain range-bound trade in opening deals tracking mixed global cues.
the S&P BSE Sensex was higher 52 points at 28,117 and the Nifty50 gained 7 points to begin at 8,651. Among broader markets, BSE Midcap and Smallcap indices are up 0.4%.
Back home, foreign portfolio investors (FPIs) bought shares worth a net Rs 684.73 crore yesterday as per provisional data released by the stock exchanges.
Hero Moto, Axis Bank, Tata Motors, Tata Steel and Bajaj Auto are the top five Sensex gainers, all up between 1%-2%.
Tata Steel has signed a Memorandum of Understanding (MoU) with Indian Institute of Technology, Madras (IITM) to set up a research centre in IIT Madras Research Park as part of its long term strategic roadmap in the area of advanced materials. The stock is up over 1%.
Hero MotoCorp said before market hours today that Sunil Kant Munjal's tenure as Joint Managing Director of the company ended on 16 August 2016. The stock is up over 2%.
On the losing side, Infosys, TCS, Sun Pharma, Cipla and GAIL are down 1% each.
Infosys has extended yesterday’s losses and is down over 1% after a key client Royal Bank of Scotland (RBS) scrapped a project to set up a separate bank in the United Kingdom, for which IT major was a key technology partner.
Shares of Cipla have taken a breather today after witnessing a sharp rally on Tuesday. The company announced an improvement of around 200 basis points in base business EBITDA (earnings before interest, depreciation and taxes) margin.
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