Wipro has edged lower by 0.1 percent after reporting best-ever quarterly earningsThe standard indices have turned flat, with an unfavorable predisposition, in midday trading after opening at fresh all-time highs due to offering pressure in infotech and banking shares.
At 1:30 pm, the BSE Sensex was trading at 53,085.35, lower by 78.73 points or 0.14 percent and the NSE Nifty was at 15,905.35, down 14.45 points or 0.11 per cent.
The broader markets are nevertheless surpassing their largecap peers, with the BSE Midcap index and BSE Smallcap index getting 0.25 per cent each.On the stock-specific front, infotech stocks are seeing profit-booking post their current gains.
HCL Tech, Tech Mahindra and Infosys have shed 1-3 percent each on the BSE.
ICICI Bank, IndusInd Bank and Bajaj Finserv are the other considerable losers in the Sensex pack.Among stocks in the news, Wipro edged lower by 0.1 per cent to Rs 574 after the country's leading software application services company reported its best-ever quarterly revenues in the first quarter of the existing financial year.
Wipro's net profit rose 9 per cent sequentially to Rs 3,243 crore from Rs 2,972 crore in the previous quarter.On the other hand, Bharti Airtel, Tata Steel, Reliance Industries and Ultratech have bucked the sluggish pattern to sign up gains of a percent each on the BSE.The BSE market breadth is positive.
Out of 3,277 stocks traded on the BSE, there are 1,707 advancing stocks as versus 1,421 decreases.