Markets

News Details

( 11 Jan 2019)
Indices open flat, Nifty below 10,850; TCS falls over 1%

Domestic benchmark indices opened on a flat note with some positive bias on Friday amid mixed Asian cues. Asian stocks inched higher to one-month highs on Friday, after Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further. US oil prices edged down on Friday as concerns over economic growth were rekindled after talks fell short of offering concrete steps to end the Sino-US trade conflict, although OPEC-led production cuts bolstered sentiment in crude markets. The rupee opened flat at 70.42 against the US dollar on Friday amid positive Asian equities and fall in crude oil prices. Tata Consultancy Services was trading over 1 per cent lower after the company earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19). The shares of Infosys were trading half a per cent higher at Rs 683.60 in early trade ahead of its December quarter earnings.

At 9:20 hours, the BSE SENSEX was trading at 36172.78 up by 66.28 points or by 0.18 per cent and then NSE Nifty was at 10841.2 up by 19.6 points or by 0.18 per cent.

The top gainers of the BSE Sensex were Tata Motors Ltd. (Rs. 187.40,+1.00%), ITC Ltd. (Rs. 291.80,+0.78%), YES Bank Ltd. (Rs. 188.15,+0.78%), Infosys Ltd. (Rs. 684.25,+0.66%), Housing Development Finance Corporation Ltd. (Rs. 1992.00,+0.66%), among others.

The top losers of the BSE Sensex were Tata Consultancy Services Ltd. (Rs. 1870.00,-0.96%), HCL Technologies Ltd. (Rs. 928.70,-0.76%), Bharti Airtel Ltd. (Rs. 335.05,-0.65%), Mahindra & Mahindra Ltd. (Rs. 729.95,-0.46%), Power Grid Corporation of India Ltd. (Rs. 195.45,-0.33%), among others.

Among sectors, FMCG index was at 11947.04 up by 52.52 points or by 0.44%. Eveready Industries India Ltd. (Rs. 201.10,+10.80%), Andrew Yule & Company Ltd. (Rs. 22.30,+5.94%), Kohinoor Foods Ltd. (Rs. 35.75,+5.15%), S H Kelkar & Company Ltd. (Rs. 184.05,+3.37%), KRBL Ltd. (Rs. 302.55,+3.33%). On the flip side IT index was at 14071.1 down by -32.48 points or by -0.23%. MIC Electronics Ltd. (Rs. 1.11,-4.31%), Brightcom Group Ltd. (Rs. 3.16,-3.66%), Zen Technologies Ltd. (Rs. 72.30,-2.36%), Matrimony.com Ltd. (Rs. 462.65,-1.75%), Rolta India Ltd. (Rs. 7.75,-1.65%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 985 , shares advanced were 596 while 331 shares declined and 58 were unchanged.