Indian benchmark indices managed to end in the green zone after opening negative to a previous close. The market traded in a very narrow range throughout the day after a big rally in the previous session. The broad indices Nifty is up 19.65 points or 0.23% and wrapped up a week at 8513.80 and the Sensex is up 46.34 points or 0.17% ending at 28,121.89.
Shares in Tata Consultancy Services, India’s biggest software services exporter, fell 2% after it reported flat sequential US dollar revenue growth for the December quarter compared with some analysts estimates of 0.5%. The company’s quarterly net profit grew 5.1 per cent year-on-year, and TCS said it expected strong outsourcing deals momentum to boost growth in the quarters ahead.
Among sectoral indices, CNX MEDIA (4.03%) led the gainers and accompanied by CNX PHARMA (1.51%), CNX FMCG (0.96%) and CNX ENERGY (0.55%). Among the losers, CNX PSU BANK plunged most (-1.53%) and followed by CNX IT (-0.09%) and Bank Nifty (-0.06%)
The rupee strengthened to a fresh one month high of 61.79, ended the week at 61.87 level up by 18 paisa against a close of 62.05 yesterday. Dollar weakness against Asian currencies supported the rupee.
Market breadth remained negative all day long on the NSE with 549 gainers against 653 losers and 44 remaining unchanged.
Out of 50 stocks of Nifty, 26 stocks advanced while 24 stocks declined.
Top 5 Nifty Gainers: ZEEL today took the baton and charged the rally at Nifty by gaining 4.63% and chased by SUN PHARMA (3.22%), COAL INDIA (3.04%), POWERGRID (2.97%) and HCL (2.81%).
Top 5 Nifty Losers: PNB emerged as most losing stock on the Nifty plunging by (-2.38%) and followed by CAIRN (-2.11%), HINDALCO (-2.11%), BHARTI AIRTEL (-1.93%) and HERO MOTOR CORP (-1.88%).
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