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Stock market update: IT index rises almost 1%; HCL Tech top gainer

The Nifty IT index was trading 0.85 per cent up at 13,523 around 12:15 pm.

ETMarkets.com|
Updated: Jun 06, 2018, 12.21 PM IST
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Stock market update: IT index rises almost 1%; HCL Tech top gainer
Among the 50 stocks in the Nifty index, 40 were trading in the green, while 10 were in the red.
NEW DELHI: Decent gains in HCL Technologies (up 2.65 per cent), KPIT Technologies (up 2.15 per cent) and Mindtree (up 1.88 per cent) were keeping the Nifty IT pack up during afternoon trade on Wednesday.

The Nifty IT index was trading 0.85 per cent up at 13,523 around 12:15 pm.

Shares of Wipro (up 1.57 per cent), Tata Elxsi (up 1.30 per cent), Infosys (up 1.27 per cent), Oracle Financial Services Software (up 0.46 per cent) and Tata Consultancy Services (up 0.31 per cent) were also trading with gains.

Meanwhile, Infibeam Incorporation (down 1.85 per cent) and Tech Mahindra (down 1.28 per cent) were among the losers in the index.

Equity markets were up ahead of the RBI policy outcome scheduled for later in the day.

The central bank will announce its bimonthly monetary policy on Wednesday amid expanding economic growth and the recent increase in crude oil prices.

The RBI may deliver its first interest rate hike in nearly 4.5 years, says a Reuters report. However, there are others who feel that RBI may hold rates this time to hike them in the August and October policy reviews.

Benchmark NSE Nifty50 index was up 62 points at 10,655, while the BSE Sensex was up 198 points at 35,101.

Among the 50 stocks in the Nifty index, 40 were trading in the green, while 10 were in the red.


HCL Technologies, Tata Motors, Bharti Airtel, Titan Company and Bajaj Finance were among the top gainers in the Nifty pack.

However, Tech Mahindra, HPCL, Asian Paints, Indian Oil Corporation and GAIL (India) were among the top losers in the index around that time.
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