Equity gauges trade weak, Tech Mahindra surges 7.7 pc

Mumbai: Equity benchmark indices traded in a sombre mood during early hours on Friday amid weak Asian trends.

At 10:15 am, the BSE S&P Sensex was up by 127 points or 0.24 per cent at 52,780 while the Nifty 50 moved higher by 39 points or 0.25 per cent to 15,818.

Sectoral indices were mixed with Nifty auto gaining by 1.1 per cent, IT by 0.9 per cent and pharma by 0.7 per cent.

Among stocks, Tech Mahindra surged by 7.7 per cent to Rs 1,215.25 per share while Power Grid Corporation was up by 3 per cent. HCL Technologies, Adani Ports, Tata Motors, Dr Reddy’s and agrochemicals manufacturer UPL too traded with a positive bias.

However, Bajaj Finserv lost by 1.9 per cent, SBI Life by 1.6 per cent and ICICI Bank by 0.7 per cent. Bajaj Finance, State Bank of India, Nestle India and Britannia were also in the negative zone.

Meanwhile, Asian shares slipped with a gauge of regional equities set for its biggest monthly drop since the height of global pandemic lockdowns last March.

MSCI’s broadest index of Asia Pacific shares outside Japan fell 0.84 per cent, Japan’s Nikkei dipped 1.71 per cent, set for an 11th straight month of falls on the last trading day in the month.

Hong Kong’s Hang Seng fell 1.27 per cent with tech stocks once again dragging while Seoul’s Kospi was last down 0.94 per cent on the day.