Nifty hovers around 9900 as investors await corporate earnings

Axis Bank

Equity benchmarks continued to trade in a tight range in noon, with the Nifty hovering around 9900 level and the Sensex around 32000-mark. Investors look for more corporate earnings. Reliance Industries, Wipro and Bajaj Auto will announce June quarter earnings later today.

The 30-share Sensex was up 15.53 points at 31,970.88 and the 50-share NSE Nifty fell 1.60 points to 9,898.

The market breadth was moderately positive as about 1,251 shares advanced against 1,146 declining shares on the BSE.
Axis Bank topped the buying list among Sensex stocks, up 3 percent followed by L&T, Reliance Industries, HDFC Bank and ONGC while Infosys, Asian Paints, TCS, Tata Steel, HDFC and ITC were under pressure.

Kotak Mahindra Bank trimmed gains to 0.4 percent from 2 percent after missed analysts’ expectations on profit front.

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