Benchmark shares indices remained weak in late trades on Wednesday with technology shares declining the most led by Infosys amid reports of downgrade by global financial services major Citigroup.

At 2:15PM, the 30-share Sensex was down 79 points at 26,193 and the 50-share Nifty was down 26 points at 7,826.

Benchmark indices continue to maintain the dismal trend weighed down by HDFC Group shares, ITC and metal stocks.

At 11:45 AM, the 30-share Sensex was down 142 points at 26,426 and the 50-share Nifty was down 47 points at 7,898.

Growth in services activity picked up pace in September as order books filled up at a faster rate, a business survey showed on Tuesday.

Shares of information technology (IT) companies are continue at their upward march with frontline stocks such as Tata Consultancy Services (TCS), Infosys and HCL Technologies have hit their respective record high on the Bombay Stock Exchange (BSE).

At 1105 hours, S&P BSE IT index, the largest gainer among sectoral indices, was up 0.65% compared to 0.48% decline in benchmark index S&P BSE Sensex. IT index touched a record high of 11,001 in intra-day trade today.

Mumbai: The 30-share bellwether BSE Sensex was trading marginally down ahead of Reserve Bank of India’s (RBI’s) bi-monthly policy due later on Tuesday.

RBI will release its monetary policy at 11am. RBI to maintain repurchase rate at 8% to shield the rupee from potential increases in US borrowing costs and sustain a fight against inflation, all 51 analysts in a Bloomberg survey predict. The government will also announce fiscal deficit data on Tuesday.

In July, when Tata group Chairman Cyrus Mistry identified defence & aerospace as one of the four clusters that could drive growth for the conglomerate over the next decade, he clearly had his eye on the estimated $250 billion (Rs 15 lakh crore) that the government would spend to purchase arms and equipment in this period. The other three clusters, in Mistry's view, were consumer goods, infrastructure and financial services.

Tata Consultancy has gained 3% on the back of being awarded as the Best Technology Provider by Reactions, a leading insurance publication covering the global insurance and reinsurance market on September, 26 2014.

We are delighted to be recognised by Reactions as the Best Technology Provider in 2014, said Suresh Muthuswami, President of Healthcare and Indusrance, TCS.

Global ratings agency Standard & Poor’s on Friday upped its outlook for Reliance Industries (RIL), Oil & Natural Gas Corp (ONGC), Tata Consultancy Services (TCS) and seven other Indian firms from negative to stable following similar action on India’s sovereign credit rating.

The rating agency — which revised its outlook on India from negative to stable — has revised the outlook for Reliance Industries to stable from negative while affirming the company's rating as BBB+, two notches higher than India's sovereign rating of BBB-.

Markets are trading flat in the noon trades with select metal and power stocks losing the most after the Supreme Court in its verdict today cancelled most of the coal blocks allocated. However, buying in the defensive stocks have limit losses.

At 2:38PM, the 30-share Sensex is up 27 points 26,803 and the 50-share Nifty has gained 1 point at 8,018.

Tata Motors has moved higher by 4.2% to Rs 541, also its new high on the National Stock Exchange (NSE).

The stock opened at Rs 515 and touched a low of Rs 514 in early morning deals on NSE. A combined 5.94 million shares changed hands on the counter so far on NSE and BSE.

Markets continued to trade lower in noon trades on Monday weighed down by profit taking in IT and pharma majors.

At 12:50PM, the 30-share Sensex was down 107 points at 26,983 and the 50-share Nifty was down 41 points at 8,080.

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