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The Nifty IT index was trading 0.64 per cent down at 27704.65.

Blue Star expects to grow at over 20% between January to June despite slower sales in April and potential issues in the north for May. The company had a record year in FY22 with income of over INR 8,000 crore and improved EBIT margins across its segments. The company also managed to improve gross margins through total cost management initiatives, despite volatile commodity prices. Blue Star is diversifying its portfolio of projects, bidding on infrastructure projects in addition to commercial buildings.

Sandip Sabharwal shares his insights on the performance and potential of various companies in the Indian market. While he sees potential for Tata Motors to make a turnaround, he is cautious about Hero MotoCorp due to a hazy volume growth picture and lack of product innovation. HDFC Bank is expected to continue to outperform in a positive foreign fund flow scenario, while Dabur is seen as a strong company with new promotions to maintain market share.

A total of 7,867 shares changed hands on the counter till 12:04PM (IST)

In the Sensex pack, HDFC and HDFC Bank were the top laggards, falling over 4% each as the merger of both companies may result in slight outflows of $150 to 200 million. IndusInd Bank, Tata Steel, Bajaj Finance and Asian Paints also opened in the red.

Having spent more than 2 decades in the wealth management industry, Awasty sees technology platforms driving hyper growth for the industry in the coming years.

Interest rates seem to be plateauing out in India, according to Lakshmi Iyer of Kotak Investment Advisors. Iyer predicts that India has reached the peak of their interest rates and the rate cut cycle could begin next year. Additionally, the floating rate bonds in India are comfortable in regards to credit risk but less so on interest rate and liquidity.

Into oversold territory and trading near its demand zone hence reversal is expected.

The Nifty Bank index was trading 0.32 per cent down at 43546.75.

​The Futures Long Position Scans identifies these stocks based on their increasing or decreasing buy positions.​