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Sensex, Nifty close quite as TCS hits $100 Billion Market Cap

25 April 2018, 03:16 | Melanie Burgess

Sensex, Nifty close quite as TCS hits $100 Billion Market Cap

Equity indices close in red on weak global cues

On Tuesday, Sensex rallied 165.87 to settle at 34,616.64 and the Nifty ended 29.65 points higher at 10,614.35.

The BSE Sensex fell as much as 105.53 points, or 0.30 per cent, to 34,511.11 in the morning trade. The broader Nifty50 was also trading above the 10,600 level at 10,611.20, down 47.15 points or 0.45 per cent.

Benchmark Sensex fell over 115 points while the Nifty closed below 10,600 today amid weak global cues and unabated foreign fund outflows.

Major gainers were ICICI Bank, Yes Bank, HUL, M&M, ITC, RIL, Adani Ports, Maruti Suzuki, ONGC, Dr. Reddy's, Sun Pharma and Bajaj Auto rising up to 2 percent.

The rupee depreciated 21 paise to 66.59 against the United States dollar today at the interbank foreign exchange due to appreciation of the greenback amid rising USA bond yields and surge in global crude oil prices.

Wall Street shares skidded overnight, with the S&P 500 falling 1.34 percent, the most in two-and-a-half weeks. Among sectoral sub-indices, Nifty IT gained more than a per cent.

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In contrast, the BSE market breadth remained bearish with 1,497 declines and 1,180 advances.

The sanctions on Rusal had driven prices of the metal to their highest since mid-2011 recently on fears that the global market could face shortages.

In terms of investments, provisional data with the exchanges showed that FIIs sold scrip worth Rs 680.99 crore, while the domestic institutional investors purchased stocks worth Rs 508.55 crore. Hong Kong's Hang Seng lost 1.1 percent to 30,281.15.

IndusInd Bank and Mahindra & Mahindra were the top gainers, while HDFC Bank, Hero MotoCorp, Indiabulls Housing, and Hindalco were the top losers.

TCS shares were up over 4% as the country's largest software exporter reported a 4.4 per cent growth in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue.



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