10:20 a.m.: Infosys has cut its revenue guidance for FY17 causing a huge downfall in Infosys shares.
10:14 a.m.: IT stocks were witnessing heavy selling pressure after Infosys disappointed in its first quarter earnings. The BSE IT index slumped 4 per cent; Infosys was the top loser, down 10 per cent to Rs 1,082. TCS, Tech Mahindra, Wipro and HCL Technologies also fell upto 3 per cent each.
9:56 a.m.: The stock markets came off the day's high on selling in power and oil & gas stocks. Sensex retreated from levels of 28,000 and was trading 13 points higher at 27,955 and Nifty was at 8,569, up 4 points.
9:24 a.m.: Sensex and Nifty edged higher in opening deals on Friday but the gains were capped on the back of selling in IT major TCS after it gave cautious commentary despite posting better-than-expected first quarter numbers.
As of 9:21 a.m., Sensex was at 28,010, up 68 points or 0.24 per cent and Nifty was at 8,582, up 17 points.
In early trading, buying interest was seen in FMCG, consumer durables, auto, banking and IT stocks.
At the same time, some power stocks were witnessing selling pressure.
From Nifty basket of stocks, 37 were advancing while 14 were declining.
Adani Ports was the top Nifty gainer, up 2 per cent to Rs 221.35. Idea Cellular, Bank of Baroda, ITC, Hindustan Unilever, Bharti Infratel, Asian Paints and State Bank of India were also among the gainers.
On the other hand, TCS was among the top Nifty losers, down 0.6 per cent to Rs 2,506. NTPC, Kotak Mahindra Bank, HDFC, BHEL, Coal India and Tata Motors were also among the losers.
The broader markets were outperforming the benchmark indices. The BSE mid-cap index was up 0.6 per cent and the small-cap index jumped 0.23 per cent.
7:58 a.m.: Sensex is set for a strong start in trades today while Nifty is likely to move above its important psychological hurdle of 8,600 tracking gains on Nifty futures traded on Singapore Stock Exchange amid strong global markets.
The Nifty futures on the Singapore Exchange traded 0.39 per cent or 33.50 points higher at 8,614.
Meanwhile, Asian shares rose to eight-month highs on Friday, on track for solid weekly gains, as record highs on Wall Street offset the impact on sentiment of an attack in France that lifted the safe-haven yen.
Japan's Nikkei advanced 1 per cent, Hong Kong's Hang Seng was up 0.4 per cent and South Korea's KOSPI jumped 0.6 per cent.
Overnight, two major U.S. stock indexes set fresh record closing highs on Thursday on investors' optimism about big banks' second-quarter earnings, while European shares also rose and oil prices rebounded from the previous session's bruising losses.
The benchmark S&P 500 ended at 2,163.75, its fourth straight record closing high after hitting a record intraday peak of 2,168.99. The Dow Jones industrial average closed at 18,506.41, its third straight record close after touching a record intraday high of 18,537.57.
Back home, foreign institutional investors bought shares worth Rs 870 crore while domestic institutional investors sold shares worth Rs 874 crore on Thursday.
Meanwhile, TCS is expected to lead gains in the benchmark indices after the company reported better-than-expected first quarter earnings.
The IT major on Thursday posted a net profit of Rs 6,317 crore on sales of Rs 29,305 crore in the June quarter, beating the Street's estimates. This is the second time when TCS surpassed profit estimates, after earlier missing estimates for six straight quarters.
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