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Equities close higher on supportive IT, Teck stocks

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SENSEX NIFTY MARKET

Mumbai, April 12: The key Indian equity indices provisionally closed in the green on Thursday supported by healthy buying in IT, Teck (technology, media and entertainment) and banking stocks.

However, selling pressure in metal, healthcare and realty stocks limited the gains.

According to market observers, gains were further trimmed as caution prevailed ahead of the release of macro economic data such as the Index of Industrial Production and the Consumer Price Index later in the evening.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed higher by 41.50 points or 0.40 per cent at 10,458.65 points.

The barometer 30-scrip Sensex of the BSE, which opened at 33,987.55 points, closed at 34,101.13 points — up 160.69 points or 0.47 per cent from its previous session’s close.

The Sensex touched a high of 34,177.44 points and a low of 33,924.88 during the intra-day trade.

The BSE market breadth was, however, bearish with 1,519 declines and 1,142 advances.

TCS, Infosys, Axis Bank, Tata Motors (DVR) and Asian Paints were the top gainers on the BSE. Top losers were Dr Reddy’s Lab, Tata Steel, Sun Pharma, State Bank of India and Adani Ports.

On the NSE, HCL, Tata Consultancy Services and Infosys led the gainers while Vedanta, Lupin and Dr Reddy’s Lab were among the top losers.

On Wednesday, the indices settled on a flat-to-positive note after tepid trade throughout the session.

The Nifty50 rose 14.90 points or 0.14 per cent to close at 10,417.15 points, while the Sensex closed at 33,940.44 points — up 60.19 points or 0.18 per cent.

IANS

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Key equity indices provisionally end in green

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Mumbai, April 23: The key Indian equity indices provisionally closed in the green on Monday on the back of healthy buying in consumer durables, healthcare and IT stocks.

However, selling pressure on metal and fast moving consumer goods (FMCG) stocks trimmed gains in the market.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed higher by 20.65 points or 0.20 per cent at 10,584.70 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,493.69 points, closed at 34,450.77 points (3.30 p.m.) — up 35.19 points or 0.10 per cent — from its previous session’s close.

The Sensex touched a high of 34,663.95 points and a low of 34,259.27 during the intra-day trade.

The BSE market breadth was bullish with 1,399 advances and 1,284 declines.

On Monday, the major gainers on the BSE were IndusInd Bank, Mahindra and Mahindra, Sun Pharma, Asian Paints and Yes Bank while HDFC Bank, Tata Motors (DVR), Coal India, Hero MotoCorp and ICICI Bank were among the major losers.

On NSE, the top gainers were IndusInd Bank, Mahindra and Mahindra and BPCL. The major losers were Hindalco Industries, Indiabulls Housing Finance and UPL.

On Friday, negative global cues such as high crude oil prices, along with a weak rupee and heavy selling pressure in banking stocks subdued the key Indian equity markets.

The Nifty50 closed at 10,564.05 points on Friday, down 1.25 points or 0.01 per cent from its previous close and the Sensex closed at 34,415.58 points, down 11.71 points or 0.03 per cent.

IANS

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TCS first Indian company to achieve $100 billion m-cap

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Mumbai, April 2: IT bellwether Tata Consultancy Services (TCS) on Monday emerged as the first Indian listed company to cross the $100-billion mark in terms of market capitalisation (m-cap).

Around 11 a.m., the m-cap of the company stood at Rs 675,934.95 crore or $101.60 billion on the BSE.

Shares of the company rose over four per cent to a new high of Rs 3,557 per share.

On Friday, the IT major’s shares rose over seven per cent to Rs 3,419.80 per share, taking its m-cap to over Rs 6.50 lakh crore or around $98 billion — close to the $100 billion mark.

The company’s shares had surged a day after its quarterly results announcement, which reported a net profit for Q4 at Rs 6,925 crore — up 4.6 per cent — from Rs 6,622 crore in the same period in 2017 and up 5.8 per cent sequentially from Rs 6,545 crore a quarter ago.

It also announced 1:1 bonus shares of Re 1 face value to its investors at the end of fiscal 2017-18.

IANS

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Centre congratulates Bengal for becoming revenue surplus

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Secretary, Revenue, Dr. Hasmukh Adhia
Hasmukh Adhia, Finance Seceretary.File Photo

Kolkata, April 22 (IANS) The Central government has congratulated the West Bengal government as the state has become revenue surplus in March, officials said.

In a recent communication to state Chief Secretary Malay De, Union Finance Secretary Hasmukh Adhia said: “As far as West Bengal is concerned, the revenue gap has come down from 33.4 per cent in August to (-) 3 per cent in March. The revenue shortfall in West Bengal has been coming down steadily but there seems to have been a spike of a major gain in March where suddenly your revenue deficit has now become revenue surplus.”

“I would like to congratulate West Bengal for such a performance. We do hope that the trend will continue in future months also,” he wrote.

Adhia also mentioned the performance of Goods and Services Tax (GST) collection is improving with some ups and downs.

IANS

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