Barometer indices pared all opening gains to slip into red on the noon trade. Asian shares also fell because of investors weighed whether Donald Trump would stress economic-boosting steps when he takes office.
At 12:40 pm, the BSE Sensex was trading at 27,218, lower 29 points, and the broader Nifty50 was ruling at 8,392, down 15 points. The BSE Midcap and BSE Smallcap also down 0.14% and 0.01%, respectively.
However, the Nifty is expected to gradually move towards 8450 level, since the Nifty has already given a speculation of 500 pts in short term period.
ONGC , GAIL, HDFC, Coal India and HUL were the top gainers on Sensex. Bharti Airtel was trading flat after company’s payment bank was inaugurated yesterday, which is being rolled out across the country with an investment of Rs 3000 crore.
Meantime, Tata Consultancy Service CEO, N Chandrasekaran, was appointed the new Chairman of Tata Sons on 12 January 2017, after the former Chairman Cyrus Mistry was removed. Chandrasekaran will take charge from February 21.
Meanwhile, the company reported its third quarter earnings report on 12 January beating analyst expectations. The Company’s quarter-3 profits grew 11.2% from a year before to Rs 6,778 crore, with higher growth from digital services.