Benchmark stock market indices opened the trading session on a flat note despite strong gains in information technology (IT) shares.
The S&P BSE Sensex was down 110.27 points at 74,229.17 at 10.07 am, while the NSE Nifty50 was down 31.35 points to 22,539.
While the other broader market indices were trading in positive territory, gains were capped due to a sharp rise in volatility.
Nifty IT was the top gainer among sectoral indices, rising nearly 2%. Nifty Media also gained over 1% but most of the other sectoral indices were struggling.
The top five gainers on the Nifty50 were Tech Mahindra, Divi’s Laboratories, LTIM, Bajaj Auto and Wipro. On the other hand, the top losers were Bajaj Finance, Bajaj Finserv, Tata Consumer Products, Nestle India and Apollo Hospitals.
Tech Mahindra shares gained 10% in early trade after the company reported its Q4 results and also unveiled a 3-year turnaround plan.
Meanwhile, LTIM shares gained after declining in the previous session, following its Q4 results.
