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INDIA-MARKETS-SENSEX
Sensex, Nifty start on a choppy note; TCS shares fall
Mumbai, Jul 10, 2019 (BSS/PTI) – Domestic equity benchmarks BSE Sensex and
NSE Nifty started on a choppy note Wednesday as investors await direction
from key global and domestic events scheduled this week.
After gyrating nearly 200 points in opening session, the 30-share index was
trading 33.76 points, or 0.09 per cent, lower at 38,697.06 at 0930 hours.
Similarly, the broader Nifty shed 5.70 points, or 0.03 per cent, to
11,551.70.
TCS was among the top losers in the Sensex pack, shedding up to 1.42 per
cent, after the company reported a 10.8 percent rise in June quarter net at
Rs 8,131 crore. The company said its bottomline has been hit a tad due to
currency appreciation.
Tata Motors, Bajaj Finance, Vedanta, Bajaj Auto, Bharti Airtel and ONGC too
fell up to 1.51 per cent.
On the other hand, Yes Bank, HCL Tech, TechM, Infosys and Asian Paints rose
up to 1.53 per cent.
In the previous session, the 30-share gauge settled 10.25 points or 0.03
per cent higher at 38,730.82, while the Nifty ended 2.70 points, or 0.02 per
cent, lower at 11,555.90.
On a net basis, foreign institutional investors sold equities worth Rs
674.26 crore, while domestic institutional investors purchased shares to the
tune of Rs 710.91 crore, provisional data available with stock exchanges
showed Tuesday.
According to traders, market turned jittery after US President Donald Trump
Tuesday launched a fresh attack on India for imposing tariffs on American
products.
Trump said it was “no longer acceptable”, days after he held talks with
Prime Minister Narendra Modi and agreed to sort out the trade related issues.
Later this week, US Commerce Secretary Wilbur Ross and Energy Secretary
Rick Perry are scheduled to address a major India centric conference in
Washington DC.
Investors also awaiting cues from US Federal Reserve Chairman Jerome
Powell’s testimony before the Congress this week, traders said.
On the domestic front, the government is scheduled to release data on
industrial production and consumer inflation on Friday.
Elsewhere in Asia, Shanghai Composite Index and Nikkei turned negative in
their respective early sessions, Hang Seng and Kospi were trading in the
green. Meanwhile, bourses on Wall Street ended higher on Tuesday.
Meanwhile, the Indian rupee depreciated 15 paise to 68.66 against the US
dollar.
The global oil benchmark Brent crude futures were trading 0.89 per cent
higher at 64.73 per barrel.
BSS/PTI/HR/1110