Sensex off record high, Nifty hovers around 10,450; IT stocks gain
Equity benchmarks opened higher on Tuesday, with the Sensex hitting fresh record high, tracking positive global cues.
The 30-share BSE Sensex was up 112.99 points at 33,844.18 and the 50-share NSE Nifty rose 31.40 points to 10,483.20.
About three shares advanced for every share falling on the BSE.
ONGC gained 2 percent on higher crude oil prices. Brent crude oil futures climbed USD 64 per barrel.
GAIL, Vedanta, Aurobindo Pharma, Bharti Airtel and Bajaj Finance were early gainers while HPCL, BPCL, Yes Bank, Coal India and Wipro were losers.
HDFC Standard Life Insurance Company, the part of housing finance major HDFC, has opened its Rs 8,695-crore initial public offering for subscription today, with a price band of Rs 275-290 per share.
It would be the third life insurance company getting listed on bourses; and is the first initial public offering by a company promoted by HDFC, since the initial public offering of HDFC Bank in 1995.
LTI, formerly known as Larsen & Toubro Infotech, continued to pave its way forward through growth in its digital business revenue in the second quarter of this fiscal, even as the company expects a strong pipeline in the current quarter.
On Monday, LTI reported revenue of Rs 1,750.8 crore, a growth of 4.8 percent from the last quarter, and net income of Rs 273 crore, a growth of 2.2 percent from the previous quarter.
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