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Sensex gives up some gains, Nifty trades flat; midcaps outperform

Automobiles, infrastructure, energy and metal trading in the green

Mumbai.

It’s a strong start, in line with pre-opening trends, on the market on Thursday morning. The Nifty has surpassed 10,400, while the Sensex is higher by over 150 points.

At 09:15 hrs IST, the Sensex was up 160.97 points or 0.47% at 34603.02, while the Nifty was higher by 38.60 points or 0.37% at 10425.20.

Among sectors, automobiles, infrastructure, energy and metal names are trading in the green, while IT names along with pharmaceuticals are trading lower. The Nifty Midcap index is higher by 0.4 percent.

Shares of Larsen & Toubro are higher by 5 percent after the company reported strong numbers for September quarter.

Shares of Lupin slipped more than 2 percent in the early trade on Thursday as company reported weak set of numbers for the quarter ended September 2018.

The company has reported a massive 41.2 percent fall in second quarter profit to Rs 268.5 crore, dented by lower operating income and US business. However, bottomline increased 32 percent sequentially. Sharp increase in other income limited profit fall YoY.

Revenue from operations during the quarter was flat at Rs 3,951 crore against Rs 3,952 crore in corresponding period last fiscal, with 8.3 percent YoY degrowth in North America formulations business. Market Update Equities are off their high points, with the Nifty trading flat. The Sensex is mildly higher.

At 09:35 hrs IST, the Sensex went up 66.29 points or 0.19% at 34508.34, and the Nifty moved 8.10 points higher up or 0.08% at 10394.70.

Shares of Larsen & Toubro are trading higher by over 5 percent on the back of strong Q2 results that the company posted on Wednesday. Here is a look at its intraday chart.

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Sensex gives up some gains, Nifty trades flat; midcaps outperform
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