Nifty holds 10,350, Midcap continues to outperform; BEL most active
Equity benchmarks continued to consolidate ahead of Federal Reserve's two-day policy meeting that will begin tonight, and corporate earnings.
The 30-share BSE Sensex was up 0.06 points at 33,266.22 and the 50-share NSE Nifty fell 9.30 points to 10,354.40.
The BSE Midcap index was up 0.3 percent and Smallcap gained 0.5 percent. About 1,219 shares advanced against 753 declining shares on the BSE.
Axis Bank, Tata Steel, Bharat Electronics (BEL), PNB and Graphite India were most active shares on the NSE.
The rupee made a cautious rise of 4 paise to 64.80 against the US dollar today as the US Fed's two-day policy meet gets under way.
Exporters and banks continued to give the American currency a wide berth.
However, the dollar's overseas strength and a lower opening in the domestic stock market cast a shadow on the rupee's gains, traders said.
Yesterday, the rupee had bounced back by a healthy 20 paise to end at 64.85 against the US currency on fresh bouts of dollar selling by exporters and banks amid buoyant local equities.
Shares of Zen Technologies touched 52-week high of Rs 92.95, gaining 13 percent in morning on order win worth Rs 224 crore.
The company has won order from Government of India worth Rs 224 crore, which includes Rs 156 crore for equipment and Rs 68 crore for annual maintenance contract (AMC) which will accrue over the 5 years following the warranty period of 2 years.
This is a biggest ever contract, company has received from domestic market and expected to be executed during the next financial year 2018-2019.
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