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Nifty, Sensex open weak; Tech stocks rally

Nifty, Sensex open weak; Tech stocks rally

New Delhi: The market on Monday started off the week on a flat note after a long weekend. The BSE Sensex rose 10.54 points to 25348.10 and the 50-share Nifty advanced 1.30 points to 7717.80 mixed with Asian cues.

Infosys, TCS and Wipro gained 1-2 percent with the Technology sector rallying after strong Accenture results and full year guidance.

Adani Ports climbed over a percent after a media report suggested that Adani group has offered 49 percent stake in the Rs. 5,000 crore Dhamra LNG project.

On the other hand, banks and pharma stocks remained under pressure. Shares such as HDFC, Sun Pharma, ICICI Bank, Reliance Industries and Tata Motors were down 0.4-1.4 percent.

The Indian rupee slipped in the early trade today. It opened lower by 26 paise at 66.90 per dollar versus 66.64 Wednesday. Dollar gained against a basket of currencies after a chorus of US Federal Reserve officials signalled more interest rate increases than the market had been pricing in. (ANI)