New Delhi, India (BBN)-Indian markets edged higher in early trade with Nifty regaining the 8400 mark.
Sensex rose over 100 points amid broad-based buying. However, IT stocks continued to see selling pressure with Wipro falling nearly 4 per cent, reports NDTV.
Wipro, India’s third largest IT services provider, reported its earnings after market hours yesterday.
Though Q4 profit was in line with the Street’s estimates, its outlook for the June quarter was below estimates.
SV Prasad, chairman of Chime Consulting, expects markets to consolidate in the near term.
But any positive news on the land bill could be a trigger for the markets to move upwards, he added.
Markets would also be eyeing the monsoon forecast, he said.
The India Meteorological Department (IMD) will announce its first monsoon forecast later in the day.
At 9:24 a.m., Sensex was up 147 points to 27,823 while Nifty rose 43 points to 8,421.
BBN/SK/AD-22Apr15-10:30am (BST)