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Markets flat, Nifty struggles below 8,400; TCS down over 3%

Among, broader markets BSE Midcap and BSE Smallcap gained 0.03% and 0.09%, respectively

Pranati Deva  |  New Delhi 

Market, Nifty, Sensex
Photo: Shutterstock

Benchmark indices pared all opening gains to slip into red even after good IIP, data and robust TCS, earnings. Globally, Asian shares fell as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office.
 
At 1:45 pm, the S&P BSE was trading at 27,215, down 31 points, while the broader Nifty50 was ruling at 8,392, down 15 points.


 
Among, broader BSE fell 0.17% while BSE gained 0.01%.

We expect the to gradually move towards 8,450 level. Going forward, it must be noted that the has already given a spectacular rally of 500 points in a short span and thus, we expect some consolidation with a positive bias. At current juncture, traders are advised to follow stock centric approach as they may fetch higher returns as compared to the index," said Angel Broking in a note.
 
On Thursday, foreign portfolio investors (FPIs) sold shares worth a net Rs 12.77 crore, while Domestic institutional investors (DIIs) also sold shares worth a net Rs 110.08 crore, provisional data available with BSE showed.
 
Sectors and Stocks
 
(down 0.8%) pared initial gains to turn negative even after solid Q3 earnings. The company reported a rise net profit of 2.3% at Rs 3,708 crore vs Rs 2,606 cr in the last quarter.

fell over 3% even after robust earnings on change in top level management after N was appointed as Chairman. Tata Motors also fell over 1.5% after announcement.

GAIL, ONGC, HDFC, Coal India and HUL were the top gainers on

Bharti Airtel was trading flat after it's payment bank was inaugurated yesterday, which is being rolled out across the country with an investment of Rs 3,000 crore. 

Tata Group in focus
 
CEO N was named the new Chairman of yesterday, roughly three months after the former Chairman Cyrus Mistry was ousted. He will take charge from February 21.
 
As the new chairman, is looking to soothe investors after a bruising public spat over the ouster of his predecessor.  
 
“At the Tata group, we are at an inflection point. I am aware that this role comes with huge responsibilities. It will be my endeavour to help progress the group with the ethos, ethics and values that the Tata group has been built on,” said on the development.

According to a spokesperson, the appointment defused criticism that interim chairman Ratan Tata was trying to take control of the group.
 
Rajesh Gopinathan, who has been the CFP for the last 3 years, has been chosen to replace as the new chief executive officer and N Ganapathy Subramanian, head of financial services as the chief operating officer of the company.
 
Meanwhile, the company reported its Q3 earnings report on Thursday beating analyst expectations. Q3 profits grew 11.2% from a year before to Rs 6,778 crore, with higher growth from digital services.
 
Revenue grew 8.7% to Rs 29,735 crore, on strong execution and a 30% jump from digital services. had reported profit of Rs 6,125 crore on revenue of Rs 27,364 crore in the quarter to December 2015.
 
The company said it was committed to maintaining its targeted margin, despite the expected increase in visa costs.
 
IIP, data impressed market
 
Industrial activity rose to a 13-month high of 5.7% in November, belying expectations of an adverse impact from demonetisation. It had contracted 1.8% in October, revealed the Index of Industrial Production (IIP) data released on Thursday.
 
Welcoming the numbers, India Inc said these "may not yet be reflecting the impact of demonetisation."
 
inflation in December declined to 3.41% from 3.63% in the previous month.
 
Global Markets
 
Asian shares dipped on Friday but remained on track for weekly gains while the dollar was poised for a losing week, as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office.
 
On Wall Street, major indexes finished lower a day after Trump failed to elaborate on his economic stimulus plans in his first news conference since his Nov. 8 election victory.
 
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%, after rising to its highest levels since late October in the previous session. It was up 1.8% for the week.
 
Japan's Nikkei stock index rose 0.4%, on track to shed 1.2% for the week.

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Markets flat, Nifty struggles below 8,400; TCS down over 3%

Among, broader markets BSE Midcap and BSE Smallcap gained 0.03% and 0.09%, respectively

Among, broader markets BSE Midcap and BSE Smallcap gained 0.03% and 0.09%, respectively Benchmark indices pared all opening gains to slip into red even after good IIP, data and robust TCS, earnings. Globally, Asian shares fell as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office.
 
At 1:45 pm, the S&P BSE was trading at 27,215, down 31 points, while the broader Nifty50 was ruling at 8,392, down 15 points.
 
Among, broader BSE fell 0.17% while BSE gained 0.01%.

We expect the to gradually move towards 8,450 level. Going forward, it must be noted that the has already given a spectacular rally of 500 points in a short span and thus, we expect some consolidation with a positive bias. At current juncture, traders are advised to follow stock centric approach as they may fetch higher returns as compared to the index," said Angel Broking in a note.
 
On Thursday, foreign portfolio investors (FPIs) sold shares worth a net Rs 12.77 crore, while Domestic institutional investors (DIIs) also sold shares worth a net Rs 110.08 crore, provisional data available with BSE showed.
 
Sectors and Stocks
 
(down 0.8%) pared initial gains to turn negative even after solid Q3 earnings. The company reported a rise net profit of 2.3% at Rs 3,708 crore vs Rs 2,606 cr in the last quarter.

fell over 3% even after robust earnings on change in top level management after N was appointed as Chairman. Tata Motors also fell over 1.5% after announcement.

GAIL, ONGC, HDFC, Coal India and HUL were the top gainers on

Bharti Airtel was trading flat after it's payment bank was inaugurated yesterday, which is being rolled out across the country with an investment of Rs 3,000 crore. 

Tata Group in focus
 
CEO N was named the new Chairman of yesterday, roughly three months after the former Chairman Cyrus Mistry was ousted. He will take charge from February 21.
 
As the new chairman, is looking to soothe investors after a bruising public spat over the ouster of his predecessor.  
 
“At the Tata group, we are at an inflection point. I am aware that this role comes with huge responsibilities. It will be my endeavour to help progress the group with the ethos, ethics and values that the Tata group has been built on,” said on the development.

According to a spokesperson, the appointment defused criticism that interim chairman Ratan Tata was trying to take control of the group.
 
Rajesh Gopinathan, who has been the CFP for the last 3 years, has been chosen to replace as the new chief executive officer and N Ganapathy Subramanian, head of financial services as the chief operating officer of the company.
 
Meanwhile, the company reported its Q3 earnings report on Thursday beating analyst expectations. Q3 profits grew 11.2% from a year before to Rs 6,778 crore, with higher growth from digital services.
 
Revenue grew 8.7% to Rs 29,735 crore, on strong execution and a 30% jump from digital services. had reported profit of Rs 6,125 crore on revenue of Rs 27,364 crore in the quarter to December 2015.
 
The company said it was committed to maintaining its targeted margin, despite the expected increase in visa costs.
 
IIP, data impressed market
 
Industrial activity rose to a 13-month high of 5.7% in November, belying expectations of an adverse impact from demonetisation. It had contracted 1.8% in October, revealed the Index of Industrial Production (IIP) data released on Thursday.
 
Welcoming the numbers, India Inc said these "may not yet be reflecting the impact of demonetisation."
 
inflation in December declined to 3.41% from 3.63% in the previous month.
 
Global Markets
 
Asian shares dipped on Friday but remained on track for weekly gains while the dollar was poised for a losing week, as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office.
 
On Wall Street, major indexes finished lower a day after Trump failed to elaborate on his economic stimulus plans in his first news conference since his Nov. 8 election victory.
 
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%, after rising to its highest levels since late October in the previous session. It was up 1.8% for the week.
 
Japan's Nikkei stock index rose 0.4%, on track to shed 1.2% for the week.
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Business Standard
177 22

Markets flat, Nifty struggles below 8,400; TCS down over 3%

Among, broader markets BSE Midcap and BSE Smallcap gained 0.03% and 0.09%, respectively

Benchmark indices pared all opening gains to slip into red even after good IIP, data and robust TCS, earnings. Globally, Asian shares fell as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office.
 
At 1:45 pm, the S&P BSE was trading at 27,215, down 31 points, while the broader Nifty50 was ruling at 8,392, down 15 points.
 
Among, broader BSE fell 0.17% while BSE gained 0.01%.

We expect the to gradually move towards 8,450 level. Going forward, it must be noted that the has already given a spectacular rally of 500 points in a short span and thus, we expect some consolidation with a positive bias. At current juncture, traders are advised to follow stock centric approach as they may fetch higher returns as compared to the index," said Angel Broking in a note.
 
On Thursday, foreign portfolio investors (FPIs) sold shares worth a net Rs 12.77 crore, while Domestic institutional investors (DIIs) also sold shares worth a net Rs 110.08 crore, provisional data available with BSE showed.
 
Sectors and Stocks
 
(down 0.8%) pared initial gains to turn negative even after solid Q3 earnings. The company reported a rise net profit of 2.3% at Rs 3,708 crore vs Rs 2,606 cr in the last quarter.

fell over 3% even after robust earnings on change in top level management after N was appointed as Chairman. Tata Motors also fell over 1.5% after announcement.

GAIL, ONGC, HDFC, Coal India and HUL were the top gainers on

Bharti Airtel was trading flat after it's payment bank was inaugurated yesterday, which is being rolled out across the country with an investment of Rs 3,000 crore. 

Tata Group in focus
 
CEO N was named the new Chairman of yesterday, roughly three months after the former Chairman Cyrus Mistry was ousted. He will take charge from February 21.
 
As the new chairman, is looking to soothe investors after a bruising public spat over the ouster of his predecessor.  
 
“At the Tata group, we are at an inflection point. I am aware that this role comes with huge responsibilities. It will be my endeavour to help progress the group with the ethos, ethics and values that the Tata group has been built on,” said on the development.

According to a spokesperson, the appointment defused criticism that interim chairman Ratan Tata was trying to take control of the group.
 
Rajesh Gopinathan, who has been the CFP for the last 3 years, has been chosen to replace as the new chief executive officer and N Ganapathy Subramanian, head of financial services as the chief operating officer of the company.
 
Meanwhile, the company reported its Q3 earnings report on Thursday beating analyst expectations. Q3 profits grew 11.2% from a year before to Rs 6,778 crore, with higher growth from digital services.
 
Revenue grew 8.7% to Rs 29,735 crore, on strong execution and a 30% jump from digital services. had reported profit of Rs 6,125 crore on revenue of Rs 27,364 crore in the quarter to December 2015.
 
The company said it was committed to maintaining its targeted margin, despite the expected increase in visa costs.
 
IIP, data impressed market
 
Industrial activity rose to a 13-month high of 5.7% in November, belying expectations of an adverse impact from demonetisation. It had contracted 1.8% in October, revealed the Index of Industrial Production (IIP) data released on Thursday.
 
Welcoming the numbers, India Inc said these "may not yet be reflecting the impact of demonetisation."
 
inflation in December declined to 3.41% from 3.63% in the previous month.
 
Global Markets
 
Asian shares dipped on Friday but remained on track for weekly gains while the dollar was poised for a losing week, as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office.
 
On Wall Street, major indexes finished lower a day after Trump failed to elaborate on his economic stimulus plans in his first news conference since his Nov. 8 election victory.
 
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%, after rising to its highest levels since late October in the previous session. It was up 1.8% for the week.
 
Japan's Nikkei stock index rose 0.4%, on track to shed 1.2% for the week.

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Business Standard
177 22