Markets tommorow from Jayant Manglik, President, Retail Distribution, Religare Securities Markets will react to the TCS's result in early trade on Friday as it will set the ground for another IT major Infosys' results. We're now just inches away from 10,000 mark in Nifty and the results of these two IT majors will be decisive. We reiterate our buy on dips view on markets and maintaining stock specific trading approach. Bank Nifty hit its fresh closing high of 23,888, up 0.8%. Nifty FMCG, Nifty Media, Nifty Financial Services and Nifty Metal were the leading sectoral gainers. Tata Consultancy Services closed flat at Rs 2,444 ahead of its June-quarter results later in the day. ONGC, Asian paints, Mahindra & Mahindra, Tata Motors and Coal India were the top five losers on Sensex and slipped in the range of 0.3% to 2%. ITC, Bharti Airtel, ICICI Bank, Larsen & Toubro and Sun Pharma were the top five gainers on Sensex and rallied in the range of 1% to 3%.
With the June CPI at 1.54%, its slowest pace in more than five years building pressure on the central bank to cut interest rate in their next monetary policy review meet and US Fed Chair Janet Yellen's dovish comments on gradually raising interest rates, the benchmark indices continued their bull run in today's trade. Investors, however, remain cautious ahead of June earnings result for TCS, kicking off the earnings season. Check out this space to find all market movements.
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