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The Securities and Exchange Board of India has allowed stock exchanges to extend trading in the derivatives segment till 11:55 PM and in the cash segment till 5:00 PM. The National Stock Exchange is in discussion to extend trading hours.

The Nifty IT index was trading 0.57 per cent up at 30782.65.

A total of 15,373 shares changed hands on the counter till 11:38AM (IST)

“I still believe that the bias on the markets will remain positive because the underlying growth in the economy and outlook for earnings remains fairly stable and healthy. Probably it is one such phase where markets are sideways and probably will continue to remain so for the next few months.”

Options data suggests a broader trading range between 17350 to 17750 zones due to a spike in the volatility index,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services.

The stock has given a trendline breakout.

From the Sensex pack, Asian Paints, Bajaj Finance, NTPC, IndusInd Bank, Titan, and Reliance were opened with cuts. Meanwhile, HCL Tech, Tata Steel, TCS, L&T, and Wipro opened with gains.

“In the good times when world equities were doing well, India did not participate and now as world markets are turning weak and wobbly, India is again turning out to be an underperformer. It is going to get a lot worse before it gets better. The next stop is around the Budget day low of around 17,350 but the chances of even that getting broken are pretty high.”

"I would be very bullish on Siemens. The kind of order-booking that Siemens has been seeing across the spectrum is commendable. For me, this would be my top idea in the capitak goods space. Aming banks, I would be more positive on ICICI Bank and Axis Bank. In the midcap space, I am extremely bullish on Bandhan Bank. "

The Relative Strength Index of the stock stood at 54.81 on Thursday.