MARKETS ON FRIDAY: Indices end flat, Nifty holds 10,550; TCS gains 7%

Markets ended flat on Friday with losses in financials and metals overshadowing gains in information technology stock

8:43 AM

Top trading ideas from Prabhudas Lilladher: Buy Rain Ind, Sun TV, Nat Alum

BUY RAIN IND

CMP: Rs 351

TARGET: Rs 380 - 390

STOP LOSS: Rs 325

The stock has been in a consolidation phase for quite some time but has been showing a positive bias with the RSI on the rise and anticipating a further rise in the coming days. With consistent volume activity seen, we recommend a buy in this stock for an upside target of 380 - 390 keeping a stop loss of 325. READ MORE

8:40 AM

After 12 quarters, TCS sees double-digit growth in dollar revenue in Q4

Tata Consultancy Services (TCS), the country’s largest information technology (IT) services provider, on Thursday announced a strong set of numbers in the March quarter (Q4) as well as for 2017-18, backed by all-round growth in key verticals and geographies, and digital services and solutions.

The company’s net profit and revenue in the quarter beat Street estimates, while margin growth was slightly below the industry’s expectations, owing to cross-currency volatility. In the March quarter, the company’s net profit stood at Rs 69 billion, a 4.7 per cent year-on-year growth rate and 5.71 per cent sequential growth. TCS’s revenues at Rs 320.75 billion grew 8.2 per cent y-o-y and 3.8 per cent quarter-on-quarter, backed by 2 per cent growth in volumes (billed man-hours in the quarter). READ MORE

Photo: Kamlesh Pednekar

8:37 AM

Markets on Thursday

 

S&P BSE Sensex	34,427.29		0.28%
Nifty 50	10,565.30		0.37%
S&P BSE 200	4,650.85		0.44%
Nifty 500	9,356.40		0.48%
S&P BSE Mid-Cap	16,873.55		0.63%
S&P BSE Small-Cap	18,174.44		0.60%

8:36 AM

SGX Nifty

The SGX Nifty was at 10,535, down 0.50 per cent from the previous close.

8:34 AM

Asian Markets

Asian shares slipped on Friday as a warning on smartphone demand from the world's largest contract chipmaker slugged the tech sector, while lofty oil prices stirred inflation fears and undermined sovereign bonds.

 

Stocks in South Korea took an early 0.4 per cent dip with the tech sector losing 1.6 per cent. Japan's Nikkei fell 0.5 per cent with tech down 0.9 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.4 per cent, again led by a 0.7 per cent drop in technology.

8:32 AM

Wall Street

Wall Street's three major indexes closed lower on Thursday, with tobacco stocks leading a tumble in consumer staples while concerns about smartphone demand hurt the technology sector and rising bond yields and earnings helped financials rebound.

 

The Dow Jones Industrial Average fell 83.18 points (0.34 per cent), to 24,664.89, the S&P 500 lost 15.51 points (0.57 per cent), to 2,693.13 and the Nasdaq Composite dropped 57.18 points (0.78 per cent), to 7,238.06.

8:31 AM

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