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MARKET WRAP: Sensex slips 97 pts, Nifty ends at 10,795; TCS falls over 2%

SI Reporter/New Delhi 11 Jan 19 | 08:19 AM

Markets, Stocks, BSE, NSE

The benchmark indices settled marginally lower on Friday weighed by IT bellwether Tata Consultancy Services (TCS) and select banking and automobile stocks.

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The S&P BSE Sensex ended at 36,010, down 97 points or 0.27 per cent, while the broader Nifty50 index ended at 10,795, down 27 points or 0.25 per cent. On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty50 rose 0.63 per cent.

In the broader market, the S&P BSE MidCap index ended at 15,177, down 19 points or 0.13 per cent, while S&P BSE SmallCap index slipped 28 points or 0.19 per cent to 14,600.

Buzzing Stocks

Shares of Eveready Industries India (EIIL) jumped 13 per cent to settle at Rs 205 per share on the BSE on reports that promoter BM Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights.

IT bellwether Infosys gained 0.58 per cent to settle at Rs 684 on the BSE ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). Its peer Tata Consultancy Services (TCS)  declined 2.45 per cent to Rs 1,842 even as it earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19).

Fast-moving consumer goods (FMCG) major ITC gained 1.85 per cent to end the day at Rs 295 on the BSE. The stock hit its highest level since October 4, 2018, during the intra-day trade.

Rupee

The rupee traded on a weak note slipping to 70.58 against the dollar on Friday. The domestic unit had settled at 70.41 against the greenback on Thursday.

Global Markets

Asian stocks inched up to five-week highs on Friday, after Fed Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Washington and Beijing are moving to higher levels.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.29 per cent to the highest levels since December 6, while Japan's benchmark Nikkei advanced 0.97 per cent. Shanghai Composite Index initially rose 0.56 per cent.

Oil Prices

Oil prices were on track for solid weekly gains on Friday after financial markets were lifted by hopes the United States and China may soon resolve their trade disputes, and as OPEC-led crude output cuts started to tighten supply.

International Brent crude futures were at $61.59 per barrel at 0555 GMT, down 9 cents, or 0.15 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were 4 cents below their last settlement, at $52.55 per barrel. Brent and WTI are set for their second week of gains, rising nearly 8 per cent and 10 per cent respectively.

(With Reuters input)

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Sensex

Company Price Gain (%)
Reliance Inds.1,182.954.34
Kotak Mah. Bank1,237.351.41
HCL Technologies964.501.02
Adani Ports398.600.99
Asian Paints1,401.300.85

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