Indian markets slumped by huge profit booking in Banking stocks

On Thursday, BSE was trading at 27,892.10 down by 24 points or 0.09%. While NSE trading flat at 8,563.50. 

Larsen & Tourbo Infotech slumped by 6.11% nearly 43 points to Rs. 666.60 from its previous issued price of Rs. 710. After IT majors such as Infosys, Wipro reported dull June quarter performance, investors got cautious on the IT stocks, which led to dumping of L&T Infotech shares in grey market activity. The grey market premium for L&T Infotech fell substantially below Rs 100 from last week's quoted price of Rs 120. On BSE index, the company was listed at a market price of Rs. 651. 

Rupee was trading at 67,203 up 0.039 paise or 0.06% against US dollar. However, the local currency opened unchanged at 67.164 from its previous closing. 

US market rally on a good note. 

Asian markets opened higher on Thursday, with all indices trading positive. The Nikkei 225 surged over 175 points or 1.05%, while Hang Seng above 117 points or 0.54% level and that of Shangai Composite stood at 0.21% up.