Key equity indices rise on healthy buying in IT, consumer durables

Ivan Schwartz
April 25, 2018

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 barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,491.38 points, traded at 34,597.71 points - up 146.94 points or 0.43 per cent from its previous session's close. At 12.42 p.m, the Sensex was trading up 167.91 points or 0.49% at 34,583.49 with 17 components gaining.

Out of 2,046 stocks traded on the NSE, 770 advanced, 942 declined and 334 remained unchanged today.

The Nifty IT index, which gained 12 percent this month up to Monday's close, fell over 1 per cent. HCL Tech, Wipro, Infosys and Tech Mahindra fell between 1 per cent and 3 per cent.

Sensex today: The benchmark indices opened higher on Tuesday tracking Asian markets which slipped and the U.S. dollar advanced as a deluge of United States government debt this week and the specter of inflation and a higher fiscal deficit drove USA borrowing costs near four-year highs.

"Markets ended with moderate gains on Tuesday after (the Nifty50) finding support at the 10,569 levels", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

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"Trading was volatile ahead of derivative expiry this week", Jasani told IANS. The Dow Jones Industrial Average fell 14.25 points, or 0.06 per cent, to 24,448.69, the S&P 500 gained 0.15 points, or 0.01 per cent, to 2,670.29 and the Nasdaq Composite dropped 17.53 points, or 0.25 per cent, to 7,128.60.

The BSE Oil & Gas index was trading 1.13 per cent up at 14,567 around 01:40 pm (IST).

TCS shares were up over 4% as the country's largest software exporter reported a 4.4 per cent growth in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue.

On closing basis, however, the company's m-cap stood at Rs 653,767.50 crore or $99.05 billion on the BSE.

Other winners were ICICI Bank (1.66 per cent), HDFC (1.31 per cent), L&T (1.25 per cent), Bajaj Auto (1.25 per cent), ONGC (0.94 per cent), Coal India (0.81 per cent), and Sun Pharma (0.67 per cent).

Other reports by GizPress

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