Sensex slips 97 points on Friday, Nifty ends at 10,795; TCS falls over 2%


The benchmark indices settled marginally lower on Friday weighed by IT bellwether Tata Consultancy Services (TCS) and select banking and automobile stocks.

The S&P BSE Sensex ended at 36,010, down 97 points or 0.27 per cent, while the broader Nifty50 index ended at 10,795, down 27 points or 0.25 per cent. On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty50 rose 0.63 per cent.

In the broader market, the S&P BSE MidCap index ended at 15,177, down 19 points or 0.13 per cent, while S&P BSE SmallCap index slipped 28 points or 0.19 per cent to 14,600.

Shares of Eveready Industries India (EIIL) jumped 13 per cent to settle at Rs 205 per share on the BSE on reports that promoter BM Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights.

IT bellwether Infosys gained 0.58 per cent to settle at Rs 684 on the BSE ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). Its peer Tata Consultancy Services (TCS) declined 2.45 per cent to Rs 1,842 even as it earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19).

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Sensex slips 85 points as private banks drag, Yes Bank falls 3.5%


The benchmark indices settled marginally lower on Friday weighed by financials and consumer stocks amid caution in global markets.

The S&P BSE Sensex ended at 38,252, down 85 points while the broader Nifty50 index settled at 11,557, down 26 points.

Among key stocks, Yes Bank and ICICI Bank were among the top losers on the BSE, falling 3.5 per cent and 2 per cent, respectively.

On the National Stock Exchange (NSE), the Nifty Bank index settled 0.7 per cent lower weighed by Yes Bank, Bank of Baroda and ICICI Bank.

Shares of selected pharmaceutical companies were in focus with Amrutanjan Health Care, Pfizer, Merck and Novartis India rallying up to 18% on the BSE in otherwise subdued market. All these stocks were trading at their respective all-time highs.

Analysts remain bullish on Larsen & Toubro (L&T) and have maintained a ‘buy’ rating on the stock despite the company’s buyback proposal. The company, at its meeting on Thursday, approved a proposal to buy back up to 60 million equity shares at a maximum price of Rs 1,500 per equity share for an amount of Rs 90 billion.

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