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Indian market hold on to gains; TCS shares trade lower ahead of results
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Indian market hold on to gains; TCS shares trade lower ahead of results
Jul 10, 2018 3:13 AM

Indian benchmark indexes slipped from five-month high in the afternoon trade, holding on to gains before the closing session. The Sensex traded higher by 228.62 points, or rising 0.64 percent, to 36,163.34, while the broader Nifty hovered around 10,920 level, gaining 66.70 points, or 0.61 percent.

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NSE

BSE MidCap traded higher by 0.79 percent, while Nifty MidCap was up by 0.57 percent. Index heavweight Reliance Industries gained 2.72 percent, while Tata Steel rose by over 2 percent. Other gainers include Coal India, Wipro, NTPC, Gail. IndusInd Bank shares traded lower by over a percent after Q1 results today. Other laggards include HPCL, Sun Pharma, Kotak Mahindra, Lupin, Hero MotoCorp. TCS also traded lower by nearly half a percent ahead of its June earnings results later in the day.

Nifty Metal and PSU Bank along with Realty were among top sectoral indices gainers. Nifty Pharma and Media trade in the negative zone. On the BSE, sectoral indices gaining over a percent included Realty, Metal, Utilities, Telecom, Energy, Basic Materials.

(Market update as of 2.45pm)

Here's how the markets fared in the pre-noon session

Indian shares advanced higher on Tuesday after opening on a solid note, with the Sensex crossing the crucial psychological 36,000-barrier.

The Nifty also surged in the opening trade to a two-month high and has largely stayed above 10,900 level in the pre-noon session. At 11:49 am, the BSE Sensex was trading at 36,167.03, rising by 232.31 points, or 0.65 percent higher, while the NSE Nifty 50 was trading at 10,920.45.

Reliance Industries, Axis Bank, Tech Mahindra, HCL Technologies and Hindalco are the top gainers, while Kotak Mahindra Bank, Sun Pharma and HPCL are the top losers. Shares of oil marketing companies are also under pressure.

Tata Consultancy Services’ (TCS) shares rose today ahead of its Q1 results later today. The stock has so far touched an intraday high of Rs 1,900.00 and an intraday low of Rs 1,872.60.

Index heavyweight Reliance has gained nearly 2.5 percent. Infosys also traded higher by a percent ahead of its Q1 results later this week. Idea Cellular gained 3.4 percent after reports of the Department of Telecom giving them a conditional nod to its merger with Vodafone.

HCL Technologies also gained over 2 percent after the IT company’s board decided to mull over a buyback on July 12.

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Midcaps on both indexes have added over 0.7 percent, while sectoral indices were also largely positive. BSE Basic Materials, Energy, Information Technology, Telecom, Metal, Realty gained by up to 1.8 percent, while Tech, Consumer Durables, Finance also gained between 0.5 and 1 percent. Only BSE Healthcare was in the negative zone.

Among sectoral indices on the NSE, PSU bank is trading higher by 1.35 percent, while Realty, IT, Metal also gained. Nifty Pharma traded negative.

Sun Pharma, Kotak Bank, LT, HUL, IndusInd Bank were among top losers along with energy stocks which are under pressure.

Asian markets advanced after opening higher tracking gains on Wall Street. Hang Seng erased gains and was trading higher by 0.15 percent at 11:47 IST, while Japan’s Nikkei was up by 1.10 percent.

Stocks on Wall Street recorded a third straight day of gains on Monday, as investor sentiment remained upbeat with banks and industrial stocks fuelling the rally. The Dow Jones Industrial Average rose 32 points, or 1.3 percent, to 24,777, while both the S&P 500 and the Nasdaq rose 0.88 percent each.

First Published:Jul 10, 2018 12:13 PM IST

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