Market News- Wipro gains 1%, ICICI Bank, Coal India top gainers,LIC Housing Falls

Wipro gains 1% - Shares of the IT services provider rose as much as 1.3 per cent to a seven-week high of Rs 291.45 per share after its March quarter results are scheduled to be announced today.

ICICI Bank, Coal India top gainers - ICICI Bank shares are trading 2.5% higher at Rs 402.45, while VEDL shares are up 2% to Rs 188.70 on BSE. Tata Motors, Infosys shares are trading 1% lower each in the morning trade on Tuesday.

Dr Reddy's Lab, Vedanta, Coal India, ICICI Bank, IOC, Asian Paints, Wipro, Hero Moto, JSW Steel, Bharti Airtel, SBI are the major gainers on the indices in the morning trade, while on the other hand Infosys, Tata Motors, HUL and Tata Steel are trading lower. All the sectoral indices are trading in green led by metal, pharma, energy, auto, infra, bank and IT.

Rupee Opens: The Indian rupee opened lower by 7 paise at 69.49 per dollar on Tuesday versus 69.42 yesterday.

Deepak Fertilizers up 7% - Shares Deepak Fertilisers and Petrochemicals Corporation gained 7 per cent as the company announced the commercial production of Nitric Acid complex at Dahej, Gujarat.

The new facility, with a project cost of approximately Rs. 550 crore, has production capacities of 92 KTPA for Concentrated Nitric Acid (CNA) and 149 KTPA for Diluted Nitric Acid (DNA).

LIC Housing Falls - After Goldman Downgrade Shares of the housing finance company fell for the second straight session after declined 1.3 per cent to Rs 522.10 apiece. Brokerage firm Goldman Sachs downgraded its recommendation the stock to ‘Sell’ from ‘Neutral’. It also set a price target of Rs 437 per share, indicating a 17 per cent decrease from the previous close.

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