Indian equity markets ended the day on a flat note. Sensex hits the two month high on the back of strong result of IT giant TCS announced late on Thursday. Sensex ended the day at 20,149.85 up by just 21.44 points while Nifty ended at 6,029 down by 8.85 points.
Tata Consultancy Services shares hit a record high after India's biggest outsourcer beat Street estimates in the June quarter announced yesterday. TCS posted a 17% rise in quarterly profit and maintained an upbeat outlook, fuelled by demand from the United States. It’s consolidated net profit for the quarter ended June 30 rose to Rs. 3,831 crore from Rs. 3,280 crore a year earlier, that topped the Rs. 3,780 crore average of 24 analyst estimates, according to Thomson Reuters.
Among the sectoral indices CNX IT surged 2.70% followed by CNX Auto (1.66%) after Q1 results announcement of Bajaj Auto and value buying on M&M stock after a near 10% fall in July as of Thursday's close was seen as overdone. Meanwhile CNX Realty was the biggest loser of the day plunged by -1.92%.
Out of 50 stocks of Nifty 24 stocks advanced while 26 stocks declined.
Top 5 Nifty gainers: TCS (4.97%), Bajaj Auto (3.97%), HCL (3.43%) GAIL (2.73%) and Hero Motorcorp (2.44%) were among the Top gainers.
Top 5 Nifty losers: BHEL (-9.02%), IndusInd Bank (-3.98%), Axis Bank (-3.88%), Sun Pharma (-3.70%) and Ranbaxy (-3.60%) were among the biggest losers.
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