Sensex, Nifty volatile; RIL falters, IT shares gain

The Sensex and the Nifty were volatile in morning trade, after earlier hitting its highest in three months.

Blue chips such as Reliance Industries Ltd retraced after about 9 per cent gain in the benchmark index since mid-April.

Reliance Industries declined 0.8 per cent, while Tata Motors Ltd traded down 1.5 per cent.

However, software services exporters gained after Cognizant Technology Solutions Corp forecast current-quarter revenue above market expectations after posting an 18 per cent rise in the first quarter.

Infosys Ltd gained 0.5 per cent, while Tata Consultancy Services Ltd rose 1.1 per cent and HCL Technologies Ltd traded up 1.9 per cent. U.S.-listed Cognizant rose 3.3 per cent.


Copyright Thomson Reuters 2013