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MARKETS ON MONDAY: Indices end higher for eighth session, Infosys down 3%

SI Reporter/New Delhi 16 Apr 18 | 03:30 PM

Benchmark indices recovered lost ground to end higher for eighth straight session, their longest gaining run so far this year.

The S&P BSE Sensex ended at 34,305, up 112 points while the broader Nifty50 index settled at 10,528, up 48 points

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Shares of India’s second-largest IT services company, Infosys, tumbled nearly 3% after it forecast on Friday FY19 operating margin between 22 to 24%, which Credit Suisse said was 100 basis points below expectations, and slightly lower than the previous year’s 24.3%.

Meanwhile, in economic data, March wholesale price inflation (WPI) came in at 2.47 per cent on Monday versus 2.48 per cent month-on-month, data showed. 

Broader weakness in Asian markets also weighed on the sentiment amid tensions between the United States and Russia over Syria, with MSCI’s broadest index of Asia-Pacific shares outside Japan shedding 0.4%.

The United States, France and Britain launched 105 missiles targeting what the Pentagon said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack in Douma on April 7.

Russian President Vladimir Putin warned on Sunday that further Western attacks on Syria would bring chaos to world affairs, as Washington prepared to increase pressure on Russia with new economic sanctions. But with President Donald Trump declaring mission accomplished, investors wagered the worst had been avoided.

Meanwhile, in economic data, March wholesale price inflation (WPI) came in at 2.47 per cent on Monday versus 2.48 per cent month-on-month, data showed. 

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Sensex

Company Price Gain (%)
ICICI Bank297.551.47
Reliance Inds.1,032.351.22
H D F C1,855.250.47
Tata Motors306.550.31
Infosys1,246.350.24

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