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Sensex remains flat at 25680; IT stocks lose on Cognizant's reduced revenue guidance

Thursday, 7 August 2014 - 9:56am IST | Place: Mumbai | Agency: dna webdesk

The benchmark index Sensex remained flat this morning trading just 15 points up at 25,680. The Nifty also followed suit remaining flat at 7674, remaining above the 7650 level.

The biggest gainers were Jindal Steel, BHEL, BPCL, Tata Steel and Coal India. Though Cognizant reported a 24% rise in net profit this quarter, it suprised the market by brining down its revenue guidance for the year. The big losers today were the IT stocks with TCS, Infosys, HCL Tech, Wipro and Tech Mahindra being the top five losers. 

Shares of Bharti Airtel dropped 6% in the beginning of the trade, but recovered its losses completely to trade in the positive now. The share price is up 0.4% to Rs 369. 

Today Bharti Airtel is selling upto 4.5 crore equity shares of Bharti Infratel through a sale on the separate window provided by BSE and NSE. "In addition to the sale shares, the seller may also sell up to 4 crore shares in the sale," the company said. AT least 25% of the sale shares will be allocated to mutual funds. And the floor price of the shares has been set at Rs 250.

Oil and gas, capital goods, metals and banks have been the big gainers with the IT being the top loser.

In global markets, Wall Street remained flat while European markets fell over concerns of Ukraine crisis.

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