The BSE Sensex bounced back into the green, recovering over 200 points from the day's low, tracking strong gains in Bharti Airtel and HCL Tech, both of which beat Street estimates in the June quarter. The broader Nifty traded near the 5,750 levels and the Indian rupee also pulled back below the 61 mark to the dollar.
The Sensex traded 19 points higher at 19,368, while the Nifty was down 15 points at 5,740 as of 2.30 p.m.
Bharti Airtel, India's biggest mobile carrier, was the top Nifty gainer, up over 6 per cent after it reported higher than expected profit in Q1. HCL Tech soared over 4 per cent to hit a new 52-week high after Q4 net jumped 42 per cent.
HCL Tech's strong earnings helped other IT stocks such as TCS, which traded 1.5 per cent higher and Infosys, which advanced 0.35 per cent.
However, banking stocks continued to lag, with Yes Bank hitting its lowest level since July 30, 2012, slumping more than 18 per cent before recovering to be off 9 per cent. Shares of Axis Bank were down 6 per cent. The NSE bank index is at a near one-year low.
(With inputs from Reuters)
The BSE Sensex bounced back into the green, recovering over 200 points from the day's low, tracking strong gains in Bharti Airtel and HCL Tech, both of which beat Street estimates in the June quarter. The broader Nifty traded near the 5,750 levels and the Indian rupee also pulled back below the 61 mark to the dollar.
The Sensex traded 19 points higher at 19,368, while the Nifty was down 15 points at 5,740 as of 2.30 p.m.
Bharti Airtel, India's biggest mobile carrier, was the top Nifty gainer, up over 6 per cent after it reported higher than expected profit in Q1. HCL Tech soared over 4 per cent to hit a new 52-week high after Q4 net jumped 42 per cent.
HCL Tech's strong earnings helped other IT stocks such as TCS, which traded 1.5 per cent higher and Infosys, which advanced 0.35 per cent.
However, banking stocks continued to lag, with Yes Bank hitting its lowest level since July 30, 2012, slumping more than 18 per cent before recovering to be off 9 per cent. Shares of Axis Bank were down 6 per cent. The NSE bank index is at a near one-year low.
(With inputs from Reuters)
The BSE Sensex bounced back into the green, recovering over 200 points from the day's low, tracking strong gains in Bharti Airtel and HCL Tech, both of which beat Street estimates in the June quarter. The broader Nifty traded near the 5,750 levels and the Indian rupee also pulled back below the 61 mark to the dollar.
The Sensex traded 19 points higher at 19,368, while the Nifty was down 15 points at 5,740 as of 2.30 p.m.
Bharti Airtel, India's biggest mobile carrier, was the top Nifty gainer, up over 6 per cent after it reported higher than expected profit in Q1. HCL Tech soared over 4 per cent to hit a new 52-week high after Q4 net jumped 42 per cent.
HCL Tech's strong earnings helped other IT stocks such as TCS, which traded 1.5 per cent higher and Infosys, which advanced 0.35 per cent.
However, banking stocks continued to lag, with Yes Bank hitting its lowest level since July 30, 2012, slumping more than 18 per cent before recovering to be off 9 per cent. Shares of Axis Bank were down 6 per cent. The NSE bank index is at a near one-year low.
(With inputs from Reuters)
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