After opening in the negative and trading on flat note since morning, the stock market is trading higher.

Heavy selling pressure is seen in the IT & Technology space. The IT stocks had a big rally in the last few days after IT giants posted better result and guidance.

At 1.25 pm, the 30-share index was trading at 16,824.53, up 85.20 points, or 0.51%; whereas, the broad-based Nifty was 5071.85, up 34 points, or 0.69%.

The overall market breadth is positive. The market experienced 1,518 advancements as compared to 1,043 declinations.

Among the sectoral indices, BSE IT dropped 4.33%, BSE Tech descended 2.08%, BSE Auto arose 0.23% and BSE Metal gained 1.72%, while BSE Realty gained 2.99% and BSE Bankex rose 1.49%.

The major gainers at the BSE Sensex included DLF that gained 3.65%, BHEL profited 3.03%, ICICI Bank climbed 2.58% and Cipla soared 2.57%. The other gainers were ACC, Jaiprakash and L&T.

The IT sector was the major loser in today’s trading session. TCS lost 9.37%, Satyam dropped 4.68%, Wipro was down 4.06% and Infosys was down 3.15%. The losers’ list also contained Ranbaxy, M&M and Maruti Suzuki.