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“As is always the case, TCS will comfortably outpace global IT spending. TCS’ business is well sorted,” said Kotak Equities, who believes that the company is likely to gain in the vendor consolidation exercise.

"Over the next decade or so, India is likely to gain in dominance relative to China, when it comes to a number of sectors such as chemicals, pharmaceuticals, steel, and so on. Over a period of time, small and midcaps will continue to outperform their large-cap peers even on a risk-adjusted basis. If one can pick the right kind of businesses to back, a lot of these are likely to become largecaps over the next 3-5-7 years."

At 9.18 am, the BSE Sensex was trading 144 points or 0.25 per cent lower at 57,291. Nifty50 was trading at 17,027, down 44 points or 0.26 per cent.

“The IMF predicted that India’s current account deficit will be 3.5% and that is way over the danger mark of 3% and well above what the RBI predicts. RBI has been predicting that the current account deficit will be within manageable proportions. I think that is a particular note of worry even though our growth at 6.8% does not look too bad compared to other countries.”

Life Insurance Corporation of India, incorporated in the year 1956, is a Small Cap company (having a market cap of Rs 391833.61 Crore) operating in Financial Services sector.

With global supply chains continuing to face disruption and many global players facing raw material challenges, FOIL is beneficiary of strong procurement and inventory of raw material helping it meet customer requirements though at elevated prices, the brokerage said.

A total of 516,524 shares changed hands on the counter till time (IST).

IT major Infosys on Tuesday said that its president Ravi Kumar S has quit, effective October 11.

The Japanese currency is particularly sensitive to the gap between U.S. and Japanese long-term bond yields. The benchmark 10-year Treasury yield jumped to the cusp of a 14-year high overnight at 4.006%, while the equivalent Japanese government bond yield is pinned near zero by the Bank of Japan.

In a statement, Safex Chemicals said that it has acquired Briar Chemicals from Germany-based investment firm AURELIUS Equity Opportunities for 73 million.