The S-P BSE Sensex and NSE Nifty 50 indexes turned flat as gains in HDFC, Larsen - Toubro, ITC, HCL Technologies, Kotak Mahindra Bank and Tech Mahindra were offset by losses in Infosys, ICICI Bank, Bharti Airtel, Axis Bank and Tata Consultancy Services.
The benchmarks had opened higher after early trends from Haryana and Maharashtra assembly election results showed that BJP-Sena taking big lead in Maharashtra and BJP ahead in Haryana.
Meanwhile, gauge of volatility on NSE - India VIX index fell nearly 2 per cent.Nifty PSU Bank Index Worst On NSE, Falls Over 1%Six of 11 sector gauges compiled by National Stock Exchange were trading lower led by the Nifty PSU Bank index's over 1 per cent gain.
Nifty Private Bank, Nifty Bank, Nifty Auto and Nifty Pharma indexes were also trading with a negative bias.On the flipside, Nifty Media index was top gainer, up 0.8 per cent.Election Update: Big Lead For BJP-Sena In Maharashtra; BJP Ahead In Tense Haryana FightIn Maharashtra, the BJP and its ally Shiv Sena are ahead in 166 of 288 assembly seats.
The Congress and its ally Nationalist Congress Party (NCP) are ahead in 87 seats.
The majority mark is at 145.In Haryana, the BJP is ahead in 44 of 90 seats and the Congress is leading in 25.
The majority mark is 46.
A BJP victory means a rerun for Manohar Lal Khattar, despite a mixed track record in the past five years.Overall Market Breadth Remains PositiveThe overall market breadth was positive as 985 shares were advancing while 632 were declining on the NSE.On the BSE, 987 shares were advancing while 691 were declining.Infosys Declines After US SEC Investigates Infosys On whistleblower ComplaintsInfosys shares fell as much as 0.78 per cent to Rs 645.70 after the US Securities and Exchange Commission (SEC) launched an investigation into whistleblower claims that thesoftware services firm used 'unethical practices' to boost revenue and profit, the company said in an exchange filing.The company said Securities and Exchange Board of India (SEBI), had also requested additional information from the company concerning the complaints.HCL Technologies Rises Over 5% After September Quarter EarningsShares of the Noida-based software services company - HCL Technologies - rose as much as 5.83 per cent to hit an intraday high of Rs 1,159 after it reported September quarter earnings after market hours on Wednesday.HCL Technologies on Wednesday reported a Rs.
2,651 crore consolidated net profit for the second quarter (Q2) of fiscal 2019-20, registering a 4.4 per cent annual growth over the same period a year ago.The company had posted a profit after tax (PAT) of Rs.
2,540 crore in the July-September quarter of last year.Sequentially, net profit rose 19.4 per cent to Rs.
2,651 crore from Rs.
2,220 crore a quarter ago.Sensex Rises Over 250 Points, Nifty Reclaims 11,650The S-P BSE Sensex rose as much as 268 points and the Nifty 50 index hit an intraday high of 11,680 after the early trends from Haryana and Maharashtra assembly elections showed that the BJP retaining power in both the states.As of 9:23 am, the Sensex rose 212 points to 39,271 and Nifty advanced 51 points to 11,655.HCL Technologies Likely To React To Its September Quarter EarningsShares of HCL Technologies will be on traders' radar after the company reported September quarter earnings after market hours on Wednesday.HCL Technologies on Wednesday reported Rs.
2,651 crore consolidated net profit for the second quarter (Q2) of fiscal 2019-20, registering a 4.4 per cent annual growth over the same period a year ago.The company had posted a profit after tax (PAT) of Rs.
2,540 crore in the July-September quarter of last year.Sequentially, net profit rose 19.4 per cent to Rs.
2,651 crore from Rs.
2,220 crore a quarter ago.MTNL Shares In Focus On Government's Approval For Merger With BSNLMTNL shares will be in focus after the government on Wednesday approved its merger with BSNL.The Cabinet Committee on Economic Affairs on Wednesday gave an in-principle nod to a proposed merger of Mahanagar Telephone Nigam Limited (MTNL) with Bharat Sanchar Nigam Limited (BSNL) in a bid to revive debt-ridden state-run telecom operators."The government is neither closing nor divesting stake in MTNL and BSNL," Union Minister Ravi Shankar Prasad said in a press briefing on Wednesday.
The move comes at a time public sector companies MTNL and BSNL are facing financial stress amid intense competition in the telecom sector.Maruti Suzuki In Focus Ahead Of EarningsMaruti Suzuki shares will be in focus ahead of its September quarter earnings due later in the day.
Maruti Suzuki shares ended 2.55 per cent higher at Rs 7,439.50.Analysts say Maruti Suzuki numbers will be closely watched at a time when car sales have plunged to lowest in many years.