You are here: Home » Markets » News
Business Standard

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

After a muted session, investors will now look out for inflation data on Thursday and Infosys results on Friday to fine-tune their trading strategy. Global developments, too, will impact sentiment

Topics
Bse  |  Sensex  |  Nse

SI Reporter  |  New Delhi 

The markets ended flat on Wednesday amid weakness in their key Asian peers. The S&P BSE Sensex ended at 36,266, up 26 points while the broader Nifty50 index settled at 10,948, up 1 point. Among sectors, the Nifty Metal index was the worst hit following concerns of escalation in global trade war fears. The index ended nearly 3% lower with Jindal Steel, Coal India, Vedanta and SAIL each ending over 4% lower. TCS rallies 5 per cent Among sectoral indices, the Nifty IT index ended around 2 per cent higher led by a sharp rise in the shares of Tata Consultancy ...

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

MARKET COMMENT Jayant Manglik, President, Religare Broking After a smart upmove over the past few sessions, some consolidation cannot be ruled out in the coming sessions. Key domestic macro events like May IIP, June CPI inflation data and corporate earnings season will provide further direction to the markets in the near term. Stock / sector specific volatility will remain high. The progress of monsoon, movement of crude oil prices and global developments will continue to be monitored by the market participants. The rising trade tensions between US & China could induce high volatility across the indices globally. Traders should avoid risky leveraged positions

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

Nifty IT index settled 2.21% higher today. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) TCS 1979.90 1875.10 104.80 5.59 TATA ELXSI 1445.00 1392.45 52.55 3.77 KPIT TECH. 291.30 286.80 4.50 1.57 INFOSYS 1320.45 1301.40 19.05 1.46 HCL TECHNOLOGIES 993.45 979.55 13.90 1.42

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

Nifty sectoral performers

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

BSE Sensex: TCS, Bajaj Auto among top gainers of the day, Coal India top loser

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

Market at close   The S&P BSE Sensex ended at 36,266, up 26 points while the broader Nifty50 index settled at 10,948, up 1 point.

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

Metal shares witness selling pressure Shares of 10 metal and mining companies fell by 1.58% to 4.04% on BSE after copper price edged lower in the global commodities markets. Jindal Steel & Power (down 4.04%), Hindalco Industries (down 3.84%), Vedanta (down 3.7%), Steel Authority of India (down 3.69%), Hindustan Zinc (down 3.29%), National Aluminium Company (down 2.69%), Tata Steel (down 2.08%), JSW Steel (down 1.78%), Hindustan Copper (down 1.77%) and NMDC (down 1.58%), edged lower. READ MORE

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

Gold remains weak on global cues, muted demand Gold prices fell further by Rs 30 to Rs 31,350 per 10 grams at the bullion market today largely due to a weak trend overseas amid tepid demand from local jewellers. Silver followed suit and lost another Rs 150 at Rs 40,500 per kg owing to reduced offtake by industrial units and coin makers. READ MORE

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

Murdoch's Fox agrees $32.5 billion bid for Sky Rupert Murdoch's 21st Century Fox said it had agreed a deal to buy Britain's Sky with an offer valuing the pay-TV group at $32.5 billion, trumping rival bidder Comcast.   Fox, which is expecting to get regulatory approval from Britain this week after striking an initial deal with Sky in December 2016, upped its offer to 14 pounds per share, from its earlier 10.75 pounds per share. READ MORE

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

BS SPECIAL Consumer business to drive doubling of Reliance's size in the next 7 years, writes Ambareesh Baliga Reliance Industries’ annual general meetings (AGMs) are the most awaited investors’ event in the Indian stock market calendar. Like last year, the focus this time was on the businesses headed by Ambani gen-next and it was also an indication that they were settling down well in the saddle.   The group has been the harbinger of equity culture in India, creating wealth for millions of its investors. The importance of Reliance can be gauged from the data on the group’s consolidated tax payment for 2017-18 which exceeds the GDP of about 11 Indian states READ MORE HERE

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

UBS on rupee outlook The worsening of India's external position amidst tightening global financial conditions and USD strength has resulted in the INR weakening to an all-time low of 69 against the USD recently. Looking at the INR on a Real Effective Exchange Rate (REER) basis and using the Harrod-Balassa-Samuelson (HBS) theorem to adjust for the productivity differential with trading partners, our model indicates the INR has overshot its equilibrium value and is undervalued at its current level. Our analysis suggests the fair value of the INR based on productivity-adjusted REER is in the 64-66 range. Photo: Shutterstock

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

COMMENT Kotak Securities on rupee Fragile global risk sentiments and increasing domestic vulnerabilities have continued to weigh on INR in CY2018 after a stellar performance in CY2017. The unrelenting capital outflow from EMs is a reflection of the increasing global risks as DM monetary policies normalize and trade war threatens to derail the global economic recovery. Adverse global backdrop, deteriorating domestic macro scenario and domestic political uncertainty could continue to keep the INR under pressure. We expect USD-INR to range 67.5-71.0 for the rest of FY201

First Published: Wed, July 11 2018. 08:25 IST
RECOMMENDED FOR YOU

MARKET WRAP: TCS up 5% in a flat market, HUL hits record, metal stocks slip

After a muted session, investors will now look out for inflation data on Thursday and Infosys results on Friday to fine-tune their trading strategy. Global developments, too, will impact sentiment

The markets ended flat on Wednesday amid weakness in their key Asian peers. The S&P BSE Sensex ended at 36,266, up 26 points while the broader Nifty50 index settled at 10,948, up 1 point. Among sectors, the Nifty Metal index was the worst hit following concerns of escalation in global trade war fears. The index ended nearly 3% lower with Jindal Steel, Coal India, Vedanta and SAIL each ending over 4% lower. TCS rallies 5 per cent Among sectoral indices, the Nifty IT index ended around 2 per cent higher led by a sharp rise in the shares of Tata Consultancy ...

image
Business Standard
177 22
.