Sensex pares early gains, up 43 points in late morning deals

Posted August 18, 2017

The domestic stock indices reversed early gains and turned volatile in late morning trade on Thursday due to a sudden sell-off in auto and banking stocks.

However, within minutes of trading, the benchmark indices lost the pace and pared the opening gains as the 30-share barometer was trading up 0.11% at 31,806.94 points while the broader Nifty 50 was trading 0.09% higher at 9,906.25 points.

Japan's Nikkei 225 edged down 0.14 percent, or 26.65 points, to close at 19,702.63, with autos and financial stocks ending the session lower.

The share of Infosys Ltd rose by 4.68 per cent to end Rs 1,020.85.

Indian shares ended lower on Friday, after jumping to record highs twice this week, as investors turned cautious ahead of inflation data and booked profits.

The key Indian equity indices traded on a flat-to-positive note during the mid-afternoon trade session on Thursday, as healthy buying in metal, oil and gas, and IT stocks kept investors' sentiments buoyed.

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A total of 12,743.77 lakh shares changed hands in 88,70,208 trades.

The Sensex and Nifty rose for a third consecutive session on Thursday, with Infosys Ltd leading the gains after announcing a likely share buyback, while Asian markets rose as tensions between the USA and North Korea eased.

Among stock-specific action, Infosys ended 5 percent higher as the company said it will consider buyback of shares.

Asian stocks edged higher on Thursday as tensions between the United States and North Korea came off the boil, while the Federal Reserve's concerns about weak USA inflation weighed on the dollar. "Infosys was the top gainer on both the indices after saying its board will consider a proposal to buy back shares", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

The index was up by 77.82 points or 0.24% up at 31848.71.

Other gainers were Reliance Industries at Rs 1,589.90 per piece up 1.46%, followed by Tata Steel at Rs 635.10 (0.85%), Bharti Airtel at Rs 409.70 per piece (0.75%), Dr Reddy's Laboratories at Rs 2,011.60 per piece (0.64%) and Lupin at Rs 966.15 per piece (0.41%).

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