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Mixed Asian markets and the overnight weak close on Wall Street are pointing to a somewhat subdued start in the Indian stock market, where trading resumes Tuesday morning after an extended weekend.
Indian shares are turning in a mixed performance Tuesday morning with investors looking for directional clues. Activity is mostly stock specific and movements are a bit range-bound.
After moving along the unchanged line, with stocks swinging between gains and losses till well past noon on Tuesday, the benchmark indices Sensex and the Nifty50 climbed higher in the final ninety minutes of the session to eventually end on a firm note.
Jefferies has taken a 'Hold' view on Tata Consultancy Services (TCS), HCL Technologies and LTI MIndTree while an 'Underperform' stance on Wipro and Tech Mahindra. Jefferies' estimates on the IT sector hinge upon the takeaways from its conversations with managements of seven domestic IT firms who have acknowledged that the demand uncertainty will linger, going forward.