Sensex adds 134 pts; IT shares decline

The headline equity benchmarks continued to trade with minor gains in morning trade. The Nifty traded near the 22,100 level. IT shares declined after advancing in the past two trading sessions.

At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 133.08 points or 0.18% to 72,559.79. The Nifty 50 index rose 59 points or 27% to 22,099.70.

The broader market outperformed the key indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index gained 0.82%.

The market breadth was strong. On the BSE, 2,394 shares rose and 1,285 shares fell. A total of 180 shares were unchanged.

Buzzing Index:

The Nifty IT declined 0.85% to 38,148.60. The index rose 1.86% in the past two trading sessions.

Tata Consultancy Services (down 1.65%), Wipro (down 1.52%), L&T Technology Services (down 1.15%), LTIMindtree (down 1.11%), Tech Mahindra (down 0.96%), Mphasis (down 0.91%), Coforge (down 0.87%), Infosys (down 0.63%), Persistent Systems (down 0.49%) and HCL Technologies (down 0.21%) declined.

Stocks in Spotlight:

CRISIL surged 7.22% after the rating agency�s consolidated net profit jumped 32.97% to Rs 210.12 crore on 11.61% increase in revenue from operations to Rs 917.74 crore in Q4 CY23 over Q4 CY22.

Kaynes Technology India advanced 1.91% after the company announced that it has incorporated a wholly owned subsidiary company (WOS) named �Kaynes Mechatronics� (KMPL) on 16 February 2024. KMPL is proposing to undertake operations in electronics industry primarily in Karnataka, India.

Schaeffler India slipped 3.01%. Schaeffler India reported 5.89% decline in standalone net profit to Rs 217.38 crore in Q4 CY23 as against Rs 230.98 crore posted in Q4 CY22. Revenue from operations increased 3.37% year on year (YoY) to Rs 1,855.07 crore in the quarter ended 31 December 2023.

Titagarh Rail Systems jumped 5.39% after the Kolkata-based company announced that it has received an order worth Rs 170 crore from the Ministry of Defence, Government of India for procurement of 250 specialized wagons.

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