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Nifty, Sensex slip on overnight oil price rise; all eyes on TCS results

Reuters 

By Chandini Monnappa

(Reuters) - Indian shares snapped four-session rally on Thursday, as an overnight jump in prices hit trading sentiment, while investors awaited Tata Consultancy Services' results before making fresh bets.

prices jumped about 5 percent on Wednesday as U.S.-trade talks raised hopes of easing tensions between the world's top two economies, along with OPEC-led crude output cuts also providing support. is the world's third biggest importer and spike in prices put pressure regionally.

The broader Nifty was down 0.24 pct at 10,828.80, while the benchmark Sensex was trading 0.16 percent lower at 36,154.16, as of 0548 GMT.

"Off late, oil has been an in nudging the markets higher or lower. This is causing volatility," said Anita Gandhi, at Arihant Capital Markets,

"Broader market sentiment remains positive except that investors are now looking forward to the outcome of results."

shares were trading flat, while those of Bandhan were up as much as 1.86 percent. Both the companies are due to report their quarterly results later in the day.

Ltd shares were up as much as 1.31 percent, after the private sector said on Wednesday it had finalised potential candidates for the position of chief executive officer,

"Markets were expecting names from the bank, but deferment by one day is not seeming to have too much of an effect as markets will take time to understand who is coming," Gandhi added.

Gains in IT stocks were outweighed by losses in financial stocks on the Nifty index.

Infosys Ltd's stock gained for second straight session, rising as much as 0.87 percent, after the company on Tuesday said it will consider share buyback and a special dividend on Friday when it is due to report results.

Shares of were down as much as 2.98 percent, posting their biggest intrady loss since Dec 11.

(Reporting by in Bengaluru; Editing by Rashmi Aich)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 11:45 IST
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