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Sensex, Nifty Flat As Weakness In Banks Offsets Infosys Gains

The NSE Nifty 50 index was down 0.06% at 11,969.50 by 0349 GMT, while the S&P BSE Sensex was down 0.03% at 40,777.36.

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Indian shares were little changed on Thursday as losses in banking stocks offset a jump in Infosys after the software services firm handily beat analysts' expectations for quarterly profit.

The NSE Nifty 50 index was down 0.06% at 11,969.50 by 0349 GMT, while the S&P BSE Sensex was down 0.03% at 40,777.36.

Broader sentiment towards equities was weak, with Asian shares trading lower as hopes for a U.S. fiscal stimulus before the November elections faded.

Infosys Ltd's shares rose as much as 4.3% to a record high after the IT giant raised revenue outlook as robust demand for its digital services helped it to breeze past quarterly profit estimates.

The Nifty IT index rose 0.4%, with IT firm Mindtree Ltd up 0.52% ahead of its quarterly results.

The Nifty bank index fell 0.82%, dragged down by RBL bank, which fell 0.4% ahead of its quarterly results.

India's Supreme court is set for the next hearing of the case on waiving interest on loans under moratorium on Nov. 2.

(Reuters)


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