It was a tech day for the markets as TCS-led IT pack saw an all-round surge with the IT index gaining 5%.

Share Market Live

NSE

TCS closed at record high, with market cap less than 2% away from the $100 billion mark. But, the markets failed to capitalise on IT gain, as financials and metals underperformed.

Financials, energy and capital goods dragged Nifty by 51 points, while IT lent 63-point support.

Besides earnings, rupee too played its role in helping tech stocks move higher. Rupee depreciated to 66 against dollar for the first time in 13 months. Bond-yields too saw a drastic move after ‘hawkish’ Reserve Bank of India (RBI) monetary policy committee's (MPC) minutes. The yield on 7.17%, 2028 Bond hit the intra-day high of 7.79%.

Benchmark indices, the Sensex and the Nifty closed flat with the Nifty wrapping the trade at 10,564 and the Sensex at 34,416.

Broader markets underperformed with the Nifty Bank slipping 182 points to 24,944 and the Nifty Midcap index falling 68 points to 19,906.

For the week, the Sensex and the Nifty closed with minor gains of 0.6-0.8%. A week before expiry, the Nifty saw a support at 10,500 level, with 10,500 put seeing the maximum number of open interest. Also, on the upside, 10,700 Call saw some traction. The Nifty April Futures premium expanded to 31 points from Thursday's level of 14 points.

On the global front, Asian markets closed in the red. The Hang Seng and Shanghai slipped 1% each and the Nikkei flat with a negative bias.

First Published:Apr 20, 2018 4:00 PM IST