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"In the case of IT, the nature of deals have changed and are now more tilted toward cost take outs which favour largecap IT. So our stance on IT remains somewhat cautious. Of course, valuations have corrected quite sharply and at this point in time we prefer largecap over midcap IT."

Price remain in up trend holding above the recent range breakout area and the 20 days EMA signalling positive bias.

Morgan Stanley maintained its overweight stance on Maruti Suzuki with a target of Rs 10,483. The global investment bank believes that the share price will rise relative to the country index over the next 30 days.

The global firm has maintained an overweight stance on Infosys citing the resilience in revenue growth, good momentum in new large deal wins and strong execution on revenue growth.

The Nifty Bank index was trading 0.16 per cent down at 42012.9.

Cyient, incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 9975.44 Crore) operating in IT Software sector.

A total of 456 shares changed hands on the counter till 10:41AM (IST).

“In my view, the RBI would probably continue with one more rate increase in February and could reach 6.5% after which, there could be a longer pause, depending upon how the inflation numbers look. While overall the number does look good for the entire year, we could still end up with a growth rate of around 5% to 6%. Looking at the specific industry performance within the manufacturing sector, that is what should actually be catching our attention.”

On the technical charts, the RSI of the stock stood at 41.98.

India is putting its first sovereign green bond on the radar of some of its biggest domestic asset managers, including state-run insurers and pension funds as well as foreign investors from Japan to the UK to drum up demand, according to people familiar with the matter.