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Sensex, Nifty hit new highs; TCS tank more than 6%

New Delhi: Equity benchmark Sensex closed 77 points higher at 60,136 on Monday tracking gains in index heavyweights HDFC Bank, ICICI Bank and ITC.

After touching a new high of 60,476.13 during the session, the 30-share Sensex closed 76.72 points or 0.13 per cent higher at 60,135.78. Similarly, Nifty rose 50.75 points or 0.28 per cent to hit its all-time high of 17,945.95.

Maruti was the top gainer in the Sensex pack, rising nearly 4 per cent, followed by PowerGrid, ITC, NTPC, SBI, M&M, Kotak Bank and HDFC Bank.

TCS, on the other hand, was the top gainer in the Sensex, falling over 6 per cent, after the company’s second quarter earnings fell below market expectations.

As Emkay Global notes, TCS Q2 operating performance reported lower than expectations revenue and earnings before interest, taxes and corporate overhead or management (EBITM).

The company on Friday reported a 14.1 per cent growth in consolidated net profit at Rs 9,624 crore for the quarter of September 2021.

Following suit, Tech Mahindra, Infosys, HCL Tech and Reliance Industries fell up to 2.76 per cent.

Indian markets opened on a positive note following positive Asian market cues, as investors rested on news of more vaccination travel lanes opening in 8 countries as COVID cases declined, says Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi said.

“During the afternoon session, markets continued to trade well as broad gains in rate sensitive counters, such as auto, realty and utility. Traders also took support as data showed the country’s exports at a healthy rate. Exports have touched USD 197 billion during April-September this financial year.

“Additional optimism came as foreign portfolio investors (FPIs) remained net buyers of Rs 1,997 crore so far in October,” he asked. They said.

Elsewhere in Asia, shares in Hong Kong and Tokyo ended higher, while Shanghai was in the red.

Stock exchanges in Europe were trading largely with losses in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 2.12 per cent to $84.14 per barrel.

By Naveen Bharat Staff

 

 

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