Nifty near 10950; TCS up 3% post results

Capitalstars financial research pvt. ltd.

The Sensex is up 10.50 points or 0.03% at 36250.12, while the Nifty is up 2.40 points or 0.02% at 10949.70. The market breadth is narrow as 901 shares have advanced, against a decline of 836 shares, while 91 shares are unchanged.TCS, Bajaj Auto, and Bharti Infratel are the top gainers, while Vedanta, Coal India, and Hindalco have lost the most.

Shares of Tata Consultancy Services (TCS) rose 3 per cent early on Wednesday after the country’s largest information technology (IT) services provider on Tuesday post market hours, kick-started the first quarter (Q1) earnings with broad-based growth, while showing a double-digit rise in dollar revenue for the second quarter (Q2) in a row as the management exuded strong confidence of continuing with the momentum for the rest of the year.

Among key corporate results, Reliance Industrial Infrastructure is likely to announce its June quarter results later in the day.In the global markets, Asian stocks retreated and perceived safe havens such as the yen and US Treasuries rose on Wednesday after the United States said it would impose tariffs on an extra 200 billion worth of Chinese imports, sharply escalating the trade war between the world’s two biggest economies.Market Update Benchmark indices have continued to trade flat in the first hour of trade, with the Nifty hovering around 10,950.

The Sensex is higher by 23.84 points or 0.07% at 36263.46, while the Nifty is down 4.00 points or 0.04% at 10943.30. The market breadth is narrow as 235 shares have advanced, against a decline of 222 shares, while 52 shares are unchanged.

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