Domestic stock markets are firm in mid-morning trading, albeit off the highs of the day, thanks to buying interest in auto and information technology stocks. The 30-scrip S&P BSE Sensex index rose to an intra-day high of 38,240.54, having started the day at 38,052.18, and the broader NSE Nifty 50 benchmark climbed to a high of 11,223.05, after opening with a gain of 0.20 per cent at 11,154.10.
At 10:52 am, the Sensex traded 131.34 points – or 0.34 per cent – higher at 38,063.40, while the Nifty was up 45.35 points – or 0.41 per cent – at 11,178.80.
Tech Mahindra was the top percentage gainer on the NSE. The shares jumped as much as 2.8 per cent to Rs 683.30 on the NSE, a day after the IT major reported a 20.95 per cent rise in net profit to Rs 972.3 crore in the quarter ended June 30. The stock had touched a high of Rs 702.75 earlier in the day.
JSW Steel, Tata Motors and Adani Ports were the other significant gainers on the NSE, with gains ranging from 2.3-2.8 per cent each.
Among the sectoral indices, auto and information technology were hogging the limelight this morning. Among the auto stocks, Tata Motors, Hero Motocorp, Maruti Suzuki and M&M had gained around 2 per cent each, on the NSE.
In the information technology space, Tech Mahindra, TCS, Wipro and Infosys added 1-2 per cent each, following stellar first quarter earnings reported by IT major Tech Mahindra.
On the other hand, ICICI Bank, Axis Bank, Zee Entertainment and Titan were the top percentage losers on the NSE, having registered losses of 0.9-2.9 per cent each, on the NSE.
Analysts awaited more financial results from companies to assess near-term cues for the markets.