Sensex on Friday ends marginally lower, Nifty holds 8,400; TCS top laggard

The benchmark indices on Friday settled marginally lower after market heavyweight Tata Consultancy Services slumped on worries about its future following key management changes.

The S&P BSE Sensex ended at 27,238, down 9 points, while the broader Nifty50 closed at 8,400, down 7 points.

In the broader market, the BSE Midcap (down 0.03%) and BSE Smallcap indices (up 0.03%) closed flat.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,493 shares declined and 1,236 shares rose. A total of 177 shares were unchanged.

Sectorally, BSE Information Technolog (down 1.9%) was the worst performer, led by losses in Moser Baer, TCS, Kellton Tech and Infosys.

TCS fell 4% to its one-month low at Rs 2,249 as CEO Natarajan Chandrasekaran’s departure to head holding company Tata Sons as chairman overshadowed the company’s better-than-expected December-quarter results. The stock was the top Sensex loser.

Adding to the fall, Infosys shares declined on profit-taking after the company posted positive quarterly results, but narrowed its full-year revenue guidance range.

Infosys fell as much as 3.73% to its lowest since December 7, coming off a two-and-a-half-month high touched earlier in the session. The scrip settled 2.9% down to Rs 971.

Goa Carbon slumped 9.13% after the company reported net loss of Rs 1 crore in the December quarter compared with net loss of Rs 0.9 crore in the December quarter of last fiscal year.

Among gainers, SpiceJet rallied 2.5% to Rs 65.5 as the company is expected to seal an order for at least 90 new 737 jets from Boeing.

Reliance Industries closed 0.6% higher at Rs 1090 ahead of its quarterly results on Monday.

Here are some picks from the week gone by.

Company: IndusInd Bank CMP: 1215.65 Mastermind

Company: Ceat Ltd. CMP: 1200.90 Mastermind

Company: Bata India CMP: 476.20 Mastermind

Company: NHPC Limited CMP: 29.25 Mastermind

Company: UPL Limited CMP: 688.05 Mastermind


Please read our disclaimer here.
Reblog: The Benefits Of Productive Worrying – yes worrying can be good for you!!
Reblog: The Dhandho Investor

Leave a Reply

Your email address will not be published / Required fields are marked *