Big mover today is Infosys after it posted better-than expected April-June quarter earnings. The stock is up 3 percent.Brokerages are positive about the government’s intent to focus on fiscal consolidation. Bank of America Merrill Lynch remains bullish on the sharemarket and maintains a Sensex target of 27,000 by year-end. Its large cap buys Maruti, ICICI Bank, SBI, OIL and Ultratech.

CLSA feels beneficiaries from the Budget announcements are banks, IDFC, HDFC, lease asset owners (DLF, Phoenix, Prestige), road asset owners (L&T, IRB). ITC is negatively impacted by the excise duty hikes.

The market picks up pace. The Sensex is up 92.10 points at 25464.85, and the Nifty up 44.20 points or 0.58% at 7611.95. About 802 shares have advanced, 367 shares declined, and 28 shares are unchanged.

The Sensex is down 34.43 points at 25338.32 and the Nifty down 8.40 points at 7559.35. About 415 shares have advanced, 219 shares declined, and 19 shares are unchanged. Big mover today is Infosys after it posted better-than expected April-June quarter earnings. The stock is up 3 percent. Wipro, Tata Motors, ITC and TCS are top gainers in the Sensex. Among the losers are M&M, GAIL, HDFC, Bajaj Auto and HDFC Bank.

The Indian rupee slipped in early trade. It opened lower by 11 paise at 60.30 per dollar versus 60.19 Thursday.The yen is poised to end the week higher as a fall in global equities lifted demand for the safe-haven currency.

US stocks retained sizable losses on Thursday, but recouped more than half of a steep dive. Asia stocks also joined global rout. Nikkei and Kospi was at 2-week low on the back of a stronger yen. European markets ended the day lower on Thursday, with peripheral stocks leading the declines, as Portugal’s PSI 20 index fell over 4 percent. The trading of shares in Banco Espirito Santo was suspended, after falling over 17 percent.