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Sensex provisionally settles with small gains

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A divergent trend was witnessed as the Sensex provisionally settled with small gains while the Nifty settled marginally lower. The barometer index, the Sensex, rose 26.31 points or 0.07% at 36,265.93, as per the provisional closing data. The index fell 1.40 points or 0.01% at 10,945.85. Global cues were weak as trade tensions escalated after US planned additional tariffs on Chinese goods.

Intraday volatility was high. The key benchmark indices reversed initial losses triggered by negative Asian stocks. Indices extended gains in morning trade. Fresh selling at higher levels once again pulled the key benchmark indices in negative zone in mid-morning trade. Key benchmark indices once again regained positive zone in early afternoon trade. Indices pared gains and were trading almost flat in afternoon trade. Stocks extended gains and hit fresh intraday high in mid-afternoon trade. Stocks once gain retreated in late trade.

Broader market declined. The Mid-Cap index fell 0.67%. The Small-Cap index fell 0.33%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1058 shares rose and 1562 shares fell. A total of 157 shares were unchanged.

(up 2.33%), (up 1.76%) and (up 0.96%) edged higher from the Sensex pack.

(down 4.5%), (down 3.41%) and (down 2.83%) edged lower from the Sensex pack.

IT TCS gained 4.9% after consolidated net income rose 6.3% to Rs 7340 crore on 6.8% increase in revenue to Rs 34261 crore in Q1 June 2018 over Q4 March 2018. The result was announced after market hours yesterday, 10 July 2018.

Commenting on the Q1 performance, and MD, said the company is starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. The firm's vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, TCS is positioned well for the future.

rose 0.82%. said that its board has recommended the names of three candidates, in order of preference, for the approval of the RBI. The candidate as approved by the RBI, will succeed Shikha Sharma, whose term as the managing director & of the bank, is due to expire on 31 December 2018. As mandated under the extant RBI norms, the will be submitting its application in respect of the recommendations relating to the said appointment, for the approval of the RBI. The announcement was made after market hours yesterday, 10 July 2018.

Overseas, Asian and European stocks dropped after the announced it plans to slap tariffs on a further $200 billion of Chinese imports. US stocks had climbed in the regular trading session yesterday, 10 July 2018, as investors focused on the start of earnings season.

Meanwhile, suggested that on Wednesday, 11 July 2018, claimed is "totally controlled" by Speaking in Brussels, on the first leg of his European trip, the US reportedly said a slew of "inappropriate" had given far too much influence over the continent's largest

The pushed ahead with plans to impose tariffs on an additional $200 billion in Chinese goods by releasing a list of targeted products. The 10% tariffs could take effect after public consultations end on August 30. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other technology products, though it omitted some high-profile items like

Earlier, the on July 6 imposed 25% duties on $34 billion in Chinese imports. The first round of tariffs covered Chinese products ranging from farming plows to machine tools and immediately retaliated with duties on the same value of US goods, including soybeans and cars and has promised further retaliation too.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 15:40 IST