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Sensex rises over 100 points in early trade; TCS Tank 6%

Mumbai: Equity benchmark Sensex rose over 100 points in early trade on Monday led by gains in index heavyweights HDFC Bank, Reliance Industries and Kotak Bank amid a positive trend in global markets.

After falling over 100 points, the 30-share Sensex made up for the loss and traded at 60,159.28, up 100.22 points or 0.17 per cent. Similarly, the Nifty rose 52.05 points or 0.29 per cent to 17,947.25.

Maruti was the top gainer in the Sensex pack, rising over 3 per cent, followed by NTPC, PowerGrid, Kotak Bank, Bajaj Finserv and Bajaj Auto.

On the other hand, TCS was the top laggard in the Sensex pack, falling over 6 per cent, with the company’s second quarter earnings missing out on road 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 September 2021 quarter.

Following suit, all the IT stocks in the index were trading in the red.

In the previous session, the 30-share index jumped 381.23 points, or 0.64 per cent, to settle at 60,059.06, and the Nifty rose 104.85 points or 0.59 per cent to hit its fresh closing peak of 17,895.20.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 64.01 crore on Friday, according to exchange data.

Elsewhere in Asia, shares in Shanghai, Hong Kong and Tokyo were trading with gains in mid-session deals, while Seoul was closed for a holiday.

Meanwhile, international oil benchmark Brent crude rose 1.43 per cent to $83.57 per barrel.

By Naveen Bharat Staff

 

 

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