Sensex gains near 100 points on IT rally; Infosys, Tata Motors and ONGC top three gainers

Mumbai: The benchmark BSE Sensex trimmed its earlier gains to trade in range, up by 90 points in late morning session following caution in Asian markets after the passage of a US Senate tax bill last week.

Good bouts of value buying in recent losers were seen, led by IT, Metal, Telecom, Realty, Oil&Gas and Basic Material.

Selling was witnessed in Energy, FMCG and Consumer Durable segments. The 30-share index was trading higher by 90.40 points or 0.28 percent at 32,923.34 at 11.50 hrs. The broader Nifty was also up by 22.65 points or 0.22 percent at 10,144.45.

Major gainers were Infy 3.50 percent, Tata Motors 2.19 percent, ONGC 1.59 percent, Bharti Airtel 1.56 percent and Tata Steel 1.43 percent.

Losers include Coal India 1.12 percent, Adani Ports 1.03 percent and Asian Paint 0.78 percent. Foreign portfolio investors (FPIs) bought shares worth a net Rs 306.11 crore last Friday, as per provisional data. Domestic institutional investors (DIIs) also bought equities worth a net Rs 176.19 crore.

Asian stocks were mixed as investors were trading cautiously after US stocks declined on last Friday. US stocks ended lower last Friday, after news surrounding former national-security adviser Michael Flynn added an element of political uncertainty into markets.