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Sensex ends 18 pts down, TCS loses 3.70%

IANS  |  Mumbai 

Reversing early gains, the Sensex and Nifty ended lower on Friday, dragged by IT sector stocks. fell the most on the BSE as the IT witnessed heavy selling pressure after leading US-based IT services company revised down its revenue growth guidance.

Among the sectoral indices, the IT and FMCG sector stocks fell the most.

"Benchmark Nifty opened on a positive note and made a high of 11,766.75 in the first half of the session, but then it remained sideways. This positive start was due to fall in crude and strength in the Indian rupee which are positive factors for the Indian market," said Manish Yadav, Head of Research, CapitalAim.

The closed 18.17 points lower or 0.05 per cent to 38,963.26 and the Nifty fell by 12.50 points or 0.11 per cent in the red at 11,712.25.

"Market started on a positive note supported by the strong rupee and fall in However, gains are capped due to the premium valuation. While a fall in 10-year yield led the to outperform," said Vinod Nair, Head of Research,

"Market is likely to stay range-bound due to weak global cues while better quarter results may provide an opportunity to accumulate."

gained the most on the BSE, followed by ICICI Bank, NTPC, Tata Motors(DVR) and

Among the top losers were IT major TCS, declining per cent, followed by Hindustan Unilever, HCL Tech, and

--IANS

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

First Published: Fri, May 03 2019. 19:14 IST
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