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Sensex, Nifty Remain Flat; IT Shares Witness Buying, Financials Weak



Tech Mahindra, Infosys, Wipro, HCL Technologies and TCS have rallied 0.9-2.6 per cent each

. As of 1:35 pm, the Sensex is trading at 52,337.75, higher by four points and the NSE Nifty is at 15,740, down two points. The mid- and small-cap shares are outperforming their larger peers; the BSE MidCap index has advanced 0.3 per cent and the BSE SmallCap index has risen 0.4 per cent.

In the currency markets, the rupThe benchmarks indices are trading virtually unchanged this afternoon as gains in information technology stocks are being offset with losses on the financial countersee has inched higher against the US dollar amid strong dollar overseas and subdued domestic equity markets. At the interbank foreign exchange, the rupee opened at 72.78 against the dollar and inched up to touch 72.77 in early deals, registering a rise of 3 paise over its previous close.

On the stock-specific front, Infosys has gained more than one per cent on the news that it has bagged a digital technology contract from the US-based Archrock. Tech Mahindra, Infosys, Wipro, HCL Technologies and TCS have rallied between 0.9 and 2.6 per cent each on the BSE. ITC, Maruti Suzuki and Bajaj Finance are the other significant gainers among the BSE names.

And Paramal Enterprises has soared more than 6 per cent as the Piramal Group has received nod for its DHFL resolution plan.

On the flipside, financial stocks are having a rough ride, with Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, Axis Bank and State Bank of India losing 1-2 per cent each.

The BSE market breadth is positive. Out of 3,265 stocks traded on the BSE, there are 1,761 advancing stocks as against 1,371 declines.

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