Markets pare early gains; TCS down 7% Analysis for Oct 17, 2014

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Paring the early gains, the key domestic benchmark indices remained flat during the morning session of trade. The gains in index heavyweights including Mahindra and Mahindra, BHEL, Bharti Airtel, ITC, ICICI Bank, LT were pared by the losses in TCS, Tata Motors, Hindalco, SSLT and Wipro among others. Meanwhile, shares of Tata Consultancy Services dropped nearly 7 per cent to Rs 2,493 after the IT major reported nearly 6 per cent drop in net profit at Rs 5,244 crore for the second quarter ended September 2014. Further shares of HCL Tech were also down nearly 7 per cent at Rs 1,546 after the IT major announced lower than expected revenue at Rs 8,735 crore for the first quarter ended September 2014, up 3.7 per cent compared with previous quarter ended June 2014.

At 10:13AM BSE SENSEX was at 26004.35 up by 5.01 points or by 0.02 per cent, while the NSE Nifty was at 7758.35 up by 10.15 points or by 0.13 per cent.

The BSE MIDCAP was at 9238.41, down by 5.54 points or by 0.06 per cent, while the BSE SMLCAP was at 10335.8, down by 7.29 points or by 0.07 per cent.

The BSE Sensex touched an intraday high of 26085.16 and an intraday low of 25917.58, while the NSE Nifty touched an intraday high of 7769.45 and an intraday low of 7729.65.The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1249.60,+2.52%), Bharat Heavy Electricals Ltd. (Rs. 223.00,+1.78%), Bharti Airtel Ltd. (Rs. 394.45,+1.62%), ITC Ltd. (Rs. 357.75,+1.43%), Dr. Reddy's Laboratories Ltd. (Rs. 2943.40,+1.23%), among others.

The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2485.80,-7.21%), Sesa Sterlite Ltd. (Rs. 233.45,-2.47%), Tata Motors Ltd. (Rs. 472.30,-2.38%), Hindalco Industries Ltd. (Rs. 139.95,-2.06%), Maruti Suzuki India Ltd. (Rs. 2915.00,-0.82%), among others.

Among the sectors, In BSE, BSE_FMCG index was at 7383.82 up by 86.9 points or by 1.19%. United Breweries Ltd. (Rs. 656.00,+3.10%), Godrej Consumer Products Ltd. (Rs. 910.00,+2.63%), ITC Ltd. (Rs. 357.75,+1.43%), United Spirits Ltd. (Rs. 2400.00,+1.23%), Marico Ltd. (Rs. 301.90,+0.85%),.

On the flip side, In BSE, BSE_FMCG index was at 7383.82 up by 86.9 points or by 1.19%. United Breweries Ltd. (Rs. 656.00,+3.10%), Godrej Consumer Products Ltd. (Rs. 910.00,+2.63%), ITC Ltd. (Rs. 357.75,+1.43%), United Spirits Ltd. (Rs. 2400.00,+1.23%), Marico Ltd. (Rs. 301.90,+0.85%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2020 , shares advanced were 1008 while 935 shares declined and 77 were unchanged

Story first published: Friday, October 17, 2014, 10:48 [IST]
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