The Indian Wire » Business » Sensex, Nifty close quite as TCS hits $100 Billion Market Cap

Sensex, Nifty close quite as TCS hits $100 Billion Market Cap

India’s most valued firm Tata Consultancy Services touched a market capitalization of $100 billion today, a first for any Indian company, but the benchmark indices set none of those records in today’s trade. The BSE Sensex slipped 200 points from the day’s high to close 35.19 points higher at 34450.77. The Nifty 50 too couldn’t sustain its gains of 56 points and closed only 20.70 points higher at 10584.70.

The market breadth was narrow as 1391 shares advanced against a decline of 1290 shares, while 165 shares were unchanged.

IndusInd Bank and Mahindra & Mahindra were the top gainers, while HDFC Bank, Hero MotoCorp, Indiabulls Housing, and Hindalco were the top losers.

Midcaps managed to put up a good show, gaining over half a percent, while PSU banks, pharma and IT companies were the top sectoral gainers. Metal stocks witnessed some profit booking during the session.

At the Multi Commodity Exchange, gold for delivery in August fell by Rs 76, or 0.24 percent, to Rs 31,524 per gen grams in business turnover of 4 lots.

Likewise, the yellow metal for delivery in June contracts was trading lower by Rs 69, or 0.22 percent, to Rs 31,363 per ten grams in 223 lots.

Meanwhile, European markets began lower as investors took cues from corporate earnings while also keeping an eye on geopolitics and crude oil prices. The pan-European Stoxx 600 was 0.12 percent lower.

Asian stocks ended the day lower as investors watched developments around US bond yields as well as fall in IT stocks.

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