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MARKETS ON MONDAY: TCS market-cap hits $100 bn; Nifty ends below 10,600

Nifty closed at 10,585 levels. TCS market-cap hits $100 billion in intraday deals; but stock ends flat as investors book profit

SI Reporter  |  New Delhi 

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Nifty IT index up 0.7%; Top gainers from the pack COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME TATA ELXSI 1204.75 1142.75 62.00 5.43 3784333 HCL TECHNOLOGIES 1085.00 1062.35 22.65 2.13 4490123 MINDTREE 999.70 979.85 19.85 2.03 8921125 KPIT TECH. 246.60 243.10 3.50 1.44 3994887 INFOSYS 1189.30 1178.45 10.85 0.92 10738186 Sectoral Trend Top Sensex gainers and losers Markets at Close The S&P BSE Sensex ended the day at 34,450, up 35 points while the broader Nifty50 index settled at 10,584, up 20 points 80 stocks gain over 25% in Sensex's 2,000 points rally in past one month Shares of 80 companies have rallied more than 25% after the S&P BSE Sensex recovered more than 2,000 points in past one month. The S&P BSE Sensex hit an intra-day high of 34,664, rebounding 2,068 points or 6% from its recent low of 32,596 recorded on March 23, 2018. The Nifty 50 index too rose 6% to 10,638 from 9,998 levels one month ago. READ MORE Salasar Techno gains 8% on repeat order of Rs 350 million from Reliance Jio   Shares of Salasar Techno Engineering have moved 8% higher to Rs 385 per share, also their new high on the BSE, after the company said it has received new orders of Rs 490 million from leading telecom players in India and Nepal.   The company received an order of Rs 350 million from Reliance Jio to supply 300 telecom towers, Salasar Techno Engineering said in a press release.   The company also received export order of 100 telecom towers worth Rs 140 million to Nepal, it added. READ MORE

pared their day's gains to end largely flat on Monday amid weakness in their global peers as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on US bond yields as they approached peaks that had triggered ructions in the past.

The S&P BSE ended the day at 34,451, up 35 points while the broader Nifty50 index settled at 10,585, up 21 points.

Among individual stocks, Tata Consultancy Services (TCS)  became India's first $100 billion information technology (IT) company in terms of market capitalisation (market-cap), after the stock of the IT bellwether hit a new high during the day. The stock had hit a new high of Rs 3,557.90 on NSE, up 4.57% in the intra-day trade, extending its Friday’s 6.7% surge, as the company reported better-than-expected March quarter earnings in post market hours on Thursday. However, the stock pared the day's gains to end at Rs 3,395.90, down 0.19% from the previous close.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1%, with South Korea off 0.2%. Japan's Nikkei dithered either side of flat as tech stocks continued to struggle with a warning on waning demand for mobile phones.

On the geopolitical front, US President said on Sunday the North Korean nuclear crisis was a long way from being resolved, striking a cautious note a day after the North pledged to end its nuclear tests. 

Back, home, Reserve Bank of India (RBI) Governor, Urjit Patel said the country’s growth is expected to accelerate next fiscal. Although the real GDP growth was moderated to 6.6% from 7.1% a year ago.

Meanwhile, a top Indian official has told the World Bank that India is poised to remain the fastest-growing large economy in the world and its GDP is expected to reach $5 trillion by 2025 as the economic reforms adopted in the last few years have started to bear fruit.

Investors also reacted to Bank's earnings for the March 2018 quarter, announced on Saturday, April 21,2018. Bank’s net profit rose 20.3% to about Rs 48 billion for the quarter ended March 31, 2018, compared with Rs 40 billion in the year-ago period

(With inputs from Reuters)

First Published: Mon, April 23 2018. 15:30 IST
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MARKETS ON MONDAY: TCS market-cap hits $100 bn; Nifty ends below 10,600

Nifty closed at 10,585 levels. TCS market-cap hits $100 billion in intraday deals; but stock ends flat as investors book profit

Nifty closed at 10,585 levels. TCS market-cap hits $100 billion in intraday deals; but stock ends flat as investors book profit
pared their day's gains to end largely flat on Monday amid weakness in their global peers as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on US bond yields as they approached peaks that had triggered ructions in the past.

The S&P BSE ended the day at 34,451, up 35 points while the broader Nifty50 index settled at 10,585, up 21 points.

Among individual stocks, Tata Consultancy Services (TCS)  became India's first $100 billion information technology (IT) company in terms of market capitalisation (market-cap), after the stock of the IT bellwether hit a new high during the day. The stock had hit a new high of Rs 3,557.90 on NSE, up 4.57% in the intra-day trade, extending its Friday’s 6.7% surge, as the company reported better-than-expected March quarter earnings in post market hours on Thursday. However, the stock pared the day's gains to end at Rs 3,395.90, down 0.19% from the previous close.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1%, with South Korea off 0.2%. Japan's Nikkei dithered either side of flat as tech stocks continued to struggle with a warning on waning demand for mobile phones.

On the geopolitical front, US President said on Sunday the North Korean nuclear crisis was a long way from being resolved, striking a cautious note a day after the North pledged to end its nuclear tests. 

Back, home, Reserve Bank of India (RBI) Governor, Urjit Patel said the country’s growth is expected to accelerate next fiscal. Although the real GDP growth was moderated to 6.6% from 7.1% a year ago.

Meanwhile, a top Indian official has told the World Bank that India is poised to remain the fastest-growing large economy in the world and its GDP is expected to reach $5 trillion by 2025 as the economic reforms adopted in the last few years have started to bear fruit.

Investors also reacted to Bank's earnings for the March 2018 quarter, announced on Saturday, April 21,2018. Bank’s net profit rose 20.3% to about Rs 48 billion for the quarter ended March 31, 2018, compared with Rs 40 billion in the year-ago period

(With inputs from Reuters)
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Business Standard
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MARKETS ON MONDAY: TCS market-cap hits $100 bn; Nifty ends below 10,600

Nifty closed at 10,585 levels. TCS market-cap hits $100 billion in intraday deals; but stock ends flat as investors book profit

pared their day's gains to end largely flat on Monday amid weakness in their global peers as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on US bond yields as they approached peaks that had triggered ructions in the past.

The S&P BSE ended the day at 34,451, up 35 points while the broader Nifty50 index settled at 10,585, up 21 points.

Among individual stocks, Tata Consultancy Services (TCS)  became India's first $100 billion information technology (IT) company in terms of market capitalisation (market-cap), after the stock of the IT bellwether hit a new high during the day. The stock had hit a new high of Rs 3,557.90 on NSE, up 4.57% in the intra-day trade, extending its Friday’s 6.7% surge, as the company reported better-than-expected March quarter earnings in post market hours on Thursday. However, the stock pared the day's gains to end at Rs 3,395.90, down 0.19% from the previous close.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1%, with South Korea off 0.2%. Japan's Nikkei dithered either side of flat as tech stocks continued to struggle with a warning on waning demand for mobile phones.

On the geopolitical front, US President said on Sunday the North Korean nuclear crisis was a long way from being resolved, striking a cautious note a day after the North pledged to end its nuclear tests. 

Back, home, Reserve Bank of India (RBI) Governor, Urjit Patel said the country’s growth is expected to accelerate next fiscal. Although the real GDP growth was moderated to 6.6% from 7.1% a year ago.

Meanwhile, a top Indian official has told the World Bank that India is poised to remain the fastest-growing large economy in the world and its GDP is expected to reach $5 trillion by 2025 as the economic reforms adopted in the last few years have started to bear fruit.

Investors also reacted to Bank's earnings for the March 2018 quarter, announced on Saturday, April 21,2018. Bank’s net profit rose 20.3% to about Rs 48 billion for the quarter ended March 31, 2018, compared with Rs 40 billion in the year-ago period

(With inputs from Reuters)

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Business Standard
177 22