Comments
The Nifty ended slightly lower on Friday after breaching the 9,900 level for the first time as investors booked profits after four straight sessions of gains, while Tata Consultancy Services Ltd fell on disappointing earnings.
The country's largest software services exporter, TCS, fell as much as 2.9 per cent after the company had on Thursday reported a 6 per cent fall in consolidated quarterly net profit, missing estimates as a stronger rupee hit revenue.
However, a fall in WPI inflation to 0.9 per cent in June from 2.17 per cent in May prevented the market from falling further.
The Nifty ended down 5.35 points or 0.05 per cent at 9,886.35, while the Sensex closed lower by 16.63 points or 0.05 per cent at 32,020.75.
Among BSE sectoral indices, healthcare index was up 0.89 per cent, followed by oil & gas 0.67 per cent, PSU 0.5 per cent and power 0.32 per cent. On the other hand, IT index fell the most by 0.95 per cent, TECk 0.6 per cent, realty 0.59 per cent and capital goods 0.53 per cent.
Top five Sensex gainers were NTPC (+2.02%), Kotak Bank (+1.61%), State Bank of India (+1.04%), Cipla (+0.96%) and Reliance (+0.8%), while the major losers were TCS (-1.85%), Wipro (-1.78%), Tata Motors (-1.42%), Coal India (-1.14%) and Tata Steel (-0.62%).
However, both the Sensex and Nifty posted their biggest weekly gains since mid-March. The NSE index gained 2.28 per cent this week, while the benchmark BSE index rose 2.10 per cent.
Investors booked profits in financial stocks such as ICICI Bank Ltd , down as much as 1.1 per cent after two straight sessions of gains. YES Bank Ltd slid as much as 1.4 per cent after gaining for five consecutive sessions.
“At higher levels, you will find some kind of profit-booking. Broadly, the undertone is positive,” said Siddharth Sedani, head and vice-president, equity advisory at Anand Rathi.
Early trade
The benchmark Nifty today raced past the 9,900 milestone for the first time and the Sensex climbed yet another peak 32,110 as Infosys maintained its 2017-18 revenue growth guidance .
The 50-share NSE index Nifty crossed the 9,900 level for the first time by gaining 21.60 points or 0.21 per cent to trade at an all-time high of 9,913.30, within a striking distance of 10,000. It had surpassed its previous intra-day high of 9,897.25 touched yesterday.
The benchmark BSE Sensex too climbed 72.37 points or 0.22 per cent to a new record of 32,109.75, breaking its previous life high of 32,091.521 reached yesterday.
Asian shares
Global stocks scaled record highs on Friday, with Asian equities rising for the fifth straight session, as signs the Federal Reserve will pursue a gradual rate tightening path and hopes of a strong earnings season lifted appetite for risk assets.
The MSCI World Index was marginally higher early on Friday, just a whisker below an all-time intraday high hit earlier. It is on track to end the week 1.6 percent higher.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.3 per cent to its highest level in two years. It's set for a 3.3 per cent gain for the week. Japan's Nikkei added 0.15 per cent, poised for a weekly rise of 1 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.