Buzzing: Hyderabad-based Bodhtree Consulting was up 5 percent after it bagged Rs 100 crore order from the Medical Council of India to cover 550 medical colleges in the country under the Digital Mission Mode Project II.
Market Outlook: "The unfaltering rise of stock markets over the past six months has made many of us a skeptical optimist love it or hate it, but you can't ignore it," Kashyap Pujara of Axis Capital said.
While earnings growth concerns continue and achieving GDP growth projection seems challenging at this point, expectations of post-GST recovery and rate cuts will only strengthen the domestic wall of liquidity/equity flows, he added.
According to him, the Street is expecting aggregate 16 percent earnings growth for 350 companies in FY18 but excluding outliers, growth is just 8-9 percent.
However, FY19 expectations broadly remain unchanged, he feels.
This will at best keep the market sideways till earnings catch up. Thus now may well be the right time for bottom-up investing, Pujara said.
Market Check: Equity benchmarks opened mildly higher on Wednesday, led by support from index heavyweight Reliance Industries.
The 30-share BSE Sensex was up 63.74 points at 32,466.11 and the 50-share NSE Nifty gained 11.90 points at 10,159.45.
Telecom stocks - Bharti Airtel, Idea Cellular and Reliance Communications fell 3-6 percent after telecom regulator TRAI slashed mobile call connection charge to 6 paise per minute from 14 paise currently, effective October 1.
Tata Motors, ICICI Bank, BPCL, Cipla, Coal India, Ambuja Cements, NTPC and Wipro were also under pressure in early trade.
Reliance Industries rallied 4 percent, followed by L&T, ONGC, HDFC Bank, ITC, Tata Power and Yes Bank.
Nifty Midcap was up 0.4 percent, outperforming benchmarks.
JK Tyre, Apollo Tyres, Ceat, Divis Labs, Kamat Hotels, Adani Transmission, Bombay Dyeing, HEG, Graphite India, Goa Carbon, Rain Industries, Shreyas Shipping and Cadila Healthcare gained up to 10 pecent.
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