Nifty settles with small losses

Benchmark Nifty ended marginally lower on the last trading day of the week today as losses in bank stocks were mostly offset by gains in IT counters even as hawkish RBI minutes stoked rate hike concerns.

The market witnessed volatility throughout the session, trading negative in small range with rate-sensitives financials, realty as well as PSUs declining. However, the losses were capped by buying in IT, teck, telecom and auto sectors.

The country's largest software exporter TCS yesterday reported a 4.4 per cent growth in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue. TCS shares ended with 6.76 per cent gain in today's trade.

The NSE Nifty ended at 10,564.05, down 1.25 points, or 0.01 per cent, after shuttling between 10,527.45 and 10,582.35.

It saw an intra-day movement of about 54.90 points.

Asian stocks fell, with technology stocks leading the way. Most European indices were trading lower as investors monitored a fresh batch of corporate earnings and economic data.

Sector-wise, PSU Bank fell by 2.49 per cent, followed by Energy 1.23 per cent, Realty 0.96 per cent, Media 0.96 per cent, Private Bank 0.92 per cent, Finance Service 0.74 per cent, Metal 0.73 per cent and Nifty Bank 0.73 per cent.

IT rose by 4.80 per cent and Auto 0.07 per cent.

Major losers were Yes Bank 3.12 per cent, ICICI Bank 2.57 per cent, Tata Steel 2.53 per cent, SBI 2.01 per cent and Bajaj Finance 1.84 per cent.

However, TCS rose by 6.62 per cent, followed by Tech Mahindra 5.31 per cent, HCL Tech 4.30 per cent, Infosys 4.03 per cent and Coal India 3.13 per cent.

A total of 1,048 scrips declined, 745 advanced, while 76 remained unchanged. Total securities that hit their price bands were 166.

Turnover in the cash segment rose to Rs 34,021.46 crore, from Rs 30,728.60 crore yesterday.

A total of 13,567.22 lakh shares changed hands in 10,767,424 trades. The market capitalisation of listed firms stood at Rs 14,839,365 crore.