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Market Wrap, January 11: Sensex slips 97 points, Nifty ends at 10,795 weighed by banks; ITC hits 3-month high
Today On Market Wrap: 1. Eveready Industries rallies 13% on reports of promoter stake sale plan 2. ITC hits 3-month high; stock gains 9% in one month 3. Sensex slips 97 points, Nifty ends at 10,795 weighed by banks
The benchmarks indices settled marginally lower on Friday weighed by information technology (IT) heavyweight Tata Consultancy Services (TCS), select banking and automobile stocks.
 
The S&P BSE Sensex ended at 36,010, down 97 points or 0.27 per cent, while the broader Nifty 50 index settled at 10,795, down 27 points or 0.25 per cent. On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty 50 rose 0.63 per cent.
 
In the broader market, the S&P BSE MidCap index ended at 15,177, down 19 points or 0.13 per cent, while S&P BSE SmallCap index slipped 28 points or 0.19 per cent to 14,600.
 
Shares of Eveready Industries India (EIIL) jumped 13 per cent to settle at Rs 205 per share on the BSE on reports that promoter B M Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights.

“The B M Khaitan-led Williamson Magor is selling its flagship Eveready Industries, triggering an auction process for one of the country’s oldest consumer brands,” the Times of India report suggested.
 
IT bellwether Infosys gained 0.58 per cent to settle at Rs 684 on the BSE ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). Its peer Tata Consultancy Services (TCS)  declined 2.45 per cent to Rs 1,842 even as it earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19).
 
Shares of ITC hit a three-month high of Rs 295 apiece, up 1.85 per cent on the BSE in an otherwise range-bound market on Friday.
 
The stock of fast moving consumer goods (FMCG) was trading at its highest level since October 4, 2018. In past one month, ITC outperformed the market by gaining 9 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex.
 
The rupee traded on a weak note slipping to 70.58 against the dollar on Friday. The domestic unit had settled at 70.41 against the greenback on Thursday.