The market started off the expiry week on a strong note, with the Nifty rising over five-month closing high on Monday aided largely by TCS, Infosys and HDFC Bank. GST Council’s approval to law for compensation to states and positive global cues also supported the market that gained strength in afternoon trade after consolidation in morning.
NSE Nifty ended up by 58 points, while BSE Sensex at 28661.58 up by 193 points.
Asian stock markets finished broadly higher today with shares in China leading the region. The Shanghai Composite is up 1.18% while Hong Kong’s Hang Seng is up 0.47% and Japan’s Nikkei 225 is up 0.09%. European markets too are higher today with shares in Germany leading the region. The DAX is up 0.65% while France’s CAC 40 is up 0.37% and London’s FTSE 100 is up 0.02%.
HDFC Bank and TCS put together are contributed over 50% to the Sensex gains. HDFC Bank closed in green up 2.18% and was the Sensex stock last week, due to the news that the restrictions placed on the foreign shareholding by RBI has been revised. TCS on the other hand, attracted volume as the company announced the buy-back of its equity shares.
In the 30-shares Sensex, 23 stocks are advanced while, 7 stocks are declined.
Stock view:
Tata Consultancy Services Ltd ended at Rs 2506.5, up by Rs 98.35 or 4.08% from its previous closing of Rs 2408.15 on the BSE.
The scrip opened at Rs 2419 and touched a high and low of Rs 2555 and Rs 2412 respectively. A total of 2184938(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 474508.6 crore.
The BSE group ‘A’ stock of face value Rs 1 touched a 52 week high of Rs 2740 on 16-Aug-2016 and a 52 week low of Rs 2054.7 on 15-Nov-2016. Last one week high and low of the scrip stood at Rs 2477.5 and Rs 2378.35 respectively.
The promoters holding in the company stood at 73.33 % while Institutions and Non-Institutions held 22.24 % and 4.44 % respectively.
The rupee was trading at 66.92 per US dollar.
Top 5 Nifty Gainers: TCS (4.03%), Tata Steel (3.89%), Infosys Ltd. (2.99%), GAIL (2.90%), and BPCL (2.80%).
Top 5 Nifty Losers: Axis Bank (-1.88%),. Bosch Ltd. (-0.95%), Tech Mahindra Ltd. (-0.78%), Yes Bank (-0.76%) and Dr. Reddy’s Lab Ltd. (-0.75%)
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