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Home Markets

Sensex, Nifty close with minor gains; TCS pares gains after sharp rally

by The Editor
April 23, 2018
in Markets
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Sensex, Nifty close with minor gains; TCS pares gains after sharp rally
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NEW DELHI: Indian equity indices Nifty50 and Sensex closed with minor gains on Monday, as rising oil prices and falling rupee kept investors a little cautious.

However, buying in IT, bank and auto stocks helped bourses end the day in the green.

The BSE Sensex gained 35 points, or 0.10 per cent, to end the day at 34,451, whereas the Nifty50 advanced 21 points, or 0.20 per cent, to close at 10,585.

Among 31 stocks in Sensex, 15 closed the day higher, while 16 fell. In the Nifty50 pack, 27 stocks closed the day in the green, while 23 in the red.

Broader BSE Midcap and smallcap indices outperformed benchmark Sensex, closing 0.49 per cent and 0.53 per cent up, respectively.

"Market closed from days high and ended with marginal gain due to spike in US bond yield and weakening rupee. Results season has started with good expectation, so far companies unveiled numbers met with street expectation. On the other hand, normal monsoon expectation is favoring auto & consumption led stories while volatility in oil price is keeping investors in the doldrums," said Vinod Nair, Head of Research, Geojit Financial Services.

The Sensex gainers included IndusInd Bank (up 3.63 per cent), Mahindra & Mahindra (up 2.74 per cent) and Sun Pharma (up 1.74 per cent).

On the other hand, HDFC Bank (down 1.42 per cent), Coal India (down 0.98 per cent) and Hero MotoCorp (down 0.93 per cent) stood among the top losers.

IT bellwether TCS on Monday created history by becoming the first Indian listed IT company to hit the coveted $100 billion m-cap mark.

The scrip hit its fresh 52-week high of Rs 3,557, rising over 4 per cent, during Monday's trade. However, it pared most of the gains later, closing just 0.26 per cent up at Rs 3,415.20.

HDFC Bank closed Monday's session losing over 1 per cent even as the lender reported 20 per cent growth in fourth-quarter net profit, which largely came in line with market expectations.

Shares of ICICI Bank fell almost 1 per cent on Monday amid reports that probe agencies are examining if ICICI Bank should have declared three companies – Pacific Capital Services; Supreme Energy Private (SEPL) and Pinnacle Energy – as related parties.

On the sectoral front, BSE Realty topped with a gain of 1.78 per cent, followed by BSE Healthcare which rose 1.29 per cent.

Realty stock Oberoi Realty clocked gain of over 11 per cent on Monday.

Metal and FMCG indices ended Monday's session 0.90 and 0.43 per cent down, respectively.

European shares fell on Monday on the disappointing result from Switzerland's biggest bank, UBS, and a rise in US Treasury yields put pressure on bond-proxy sectors, Reuters reported.

Asian stocks too mirrored too reflected lacklustre sentiment.

Original Article

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ET Markets

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The Editor

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Sensex, Nifty close with minor gains; TCS pares gains after sharp rally

Sensex, Nifty close with minor gains; TCS pares gains after sharp rally

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