Nifty holds 12,000-mark; Zee, BPCL stocks slip

Equity benchmark indices have erased partial gains and are trading marginally higher. The Sensex was up 140 points at 40,925 and the Nifty is also up 44 points at 12,023.
Tata Motors stock rallied 5% on the Nifty50; UPL, BPCL and Infratel are among the top gainers, while Zee slumped 6%, Adani Ports, Hero MotoCorp and ITC were the top draggers.

The Nifty Media index dropped 1% at 1,763.20 levels led by Zee, Zee Media, Saregama, Dish TV and DB Corp.
Shares of Zee fell 6% after media reports said that the ministry has ordered an inspection of financials of ZEEL following allegations of corporate governance lapses and after some independent directors quit recently.
The Nifty Pharma index is also trading in the red led by Dr Reddy’s, Cipla, Sun Pharma and Lupin.
On the economy front, rising from 53.3 in December to 55.5 in January, the IHS Markit India Services Business Activity Index signalled the strongest upturn in output for seven years. The rebound largely stemmed from favourable market conditions and better underlying demand, according to survey participants.

INTRADAY CASH TIPS LIVE