Free Stock Tips,Sensex recovers from opening lows; Nifty above 10,450; Infosys down 4% By TradeIndmia Research 16-04-18

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Sensex recovers from opening lows; Nifty above 10,450; Infosys down  4%.

Infosys was down 4 percent after lowering of full year EBIT margin guidance.

The market is off its opening lows, with the Sensex falling 100 points due to selling pressure in technology, oil exploration and select banks stocks.

Infosys was the biggest loser among Nifty50 stocks, down 4 percent after the company lowered its full year margin guidance.

Bhansali Engineering was down 3 percent while ICICI Securities, DCB Bank, Gruh Finance gained up to 6 percent after March quarter earnings.

Revenue from operations in March quarter grew by 13 percent to Rs 142 crore and net profit increased 50 percent to Rs 6 crore compared to year-ago quarter.

EBITDA (earnings before interest, tax, depreciation and amortisation), however, fell 22.7 percent year-on-year to Rs 17 crore and margin contracted by 550 basis points to 12 percent for the quarter ended March 2018.

Equity99 said rising crude oil prices and geopolitical risk from the global markets would be important factors that could impact the sentiment going forward.

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