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Stock market: Sensex, Nifty trade flat; ICICI Bank, Bharti Airtel drop 1% each

Zensar Tech jumps 7% on multi-million dollar contract win

The domestic stock market opened on a flat note on Wednesday. At 09:21 am, BSE Sensex was trading 40 points higher at 33,410 while NSE Nifty was trading above 10,250 level at 10,255, up 10 points.

In the US market, the Dow Jones Industrial Average index climbed 389.17 points, or 1.65 per cent, to 24,033.36. The S&P500 index advanced 32.57 points, or 1.26 per cent, to 2,614.45.

Shares of Zensar TechnologiesBSE 5.27 %, a digital solutions and technology services company, spurted over 7 per cent in the early trade on Wednesday after the company won a four-year, multi-million dollar contract from the City of San Diego for network services.

The contract has the option of extension of two additional two-year terms with the total not to exceed contract value being approximately $79 million, it said in its press release available with BSE.

“This partnership aims to make the City of San Diego more transparent and accountable while enhancing security – all at a lower cost for taxpayers,” said Mayor Kevin Faulconer.

“We look forward to working with Zensar on several new projects to help modernize and improve the City’s network as we replace ageing technology with the new digital infrastructure to better serve our residents.”

At 10:14 am, shares of the company were trading at Rs 950 apiece on BSE, up 5.39 per cent.

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