Ways2Capital Reviews : Nifty Above 10,550 Mark; TCS Crosses Rs7 Lakh cr In MCap

Equity benchmark indices extended morning gain led by technology, banking, auto and metal stocks.

On the sectoral front, IT stocks advanced the most. Nifty IT index was trading 178.35 points or 1.3% higher at 13,954, with 9 out of 10 constituents in the green and one in the red.

Nifty Private Bank index was trading 0.63% up, with 8 out of 10 constituents in the green, one in the red, while one remained unchanged.

At 10:40 AM, the BSE Sensex at 34,843 was up by 180 points, while NSE Nifty at 10,568 was higher by 56 points. However, both BSE Midcap and the BSE Smallcap were higher by 0.61% and 0.63%, respectively.

TCS became the most valued listed company in India, crossing the market cap of Rs7 lakh cr. The stock was trading at 52-week high on the NSE.

United Breweries stock rose 5.5% after it posted over 13-fold jump in its standalone net profit of Rs90.9cr for the fourth quarter ended March 2018 led by strong volume growth.

Granules India touched a new 52-week low after the company reported 55% fall in its Q4FY18 consolidated net profit at Rs20cr on the back of weak operational performance.

Shares of MCX rallied 6% at Rs750.40 apiece on NSE.

Shares of GAIL reported a net profit of Rs 1,021, up 293% from Rs260cr in the same period of last fiscal.

GAIL (+2.6%), Tata Steel (+2.3%), IOC (+2.2%), Hindalco (+2%) and TCS (+1.6%) were the top gainers.

Vedanta (-3.2%), Infratel (-1.2%), SBI (-0.93%), SBI (-0.93%), Cipla (-0.91%) and Lupin (-0.69%) were the top losers.

Out of 2,033 stocks traded on the NSE, 997 advanced, 546 declined and 490 remained unchanged today.

The Indian Rupee opened higher at 68.28 per dollar against yesterday's close of 68.34.

Asian indices opened with moderate gains as North Korea reiterated willingness to attend the summit planned in June with the US and stood to correct any miscommunications.

US stocks recover from over 275 points fall to close 75 points lower, as North Korea summit cancellation hurt sentiment. President Trump's flip-flop rhetoric on North Korea and trade with China is seeing leading to volatility in markets as investors react. Bond yields fall to below 3%, oil falls over 2% even as gold prices rise to 3-month high.
 
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About Bhoomi Desai

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