TCS cracks 5 percent and Sensex gets cautious on weak global cues

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Even after experiencing positive macroeconomic data and the appreciating value of rupee, the benchmark BSE Sensex has turned irregular due to indifferent signs from the overseas market. The 30-share barometer experienced a rise of 44.58 points i.e. 0.13 percent to 33,962.52 points. However, the gains were restricted by a weak trend seen in the Asian markets which were followed by a negative lead from Wall Street. The estimate was that of 610.80 points in the previous session which was also said to be the biggest single-day gain in the past 2 years.

The indices were highest in the sectors of consumer durables, realty, capital goods, PSU, oil & gas, healthcare, auto, and FMCG which were trading in green and went up to rise by 0.66 percent. The NSE index of Nifty went up by 19.65 points i.e. 0.18 percent to 10,441.05. The shares of TCS cracked up by 5 percent after 1.48 percent of its flagship in IT services was sold by the Tata Sons yesterday. Brokers said that buying expanded the industrial production by 7.5 percent in January after which the inflation rate went down by 4.4 percent in February.

Foreign Portfolio Investors have bought shares worth Rs. 374.65 Crore on a net basis, whereas shares worth Rs. 464.59 Crore were sold by the domestic institutional investors as per the provisional data. After a fall in the US stocks, most of the Asian stocks were trading at a lower price overseas as the focus turned towards the inflation report of US. Hong Kong’s Hang Seng went down by 0.16 percent in Asia, Japan’s Nikkei fell down by 0.16 percent and the index of Shanghai Composite Index of China went down by 0.17 percent. The US Dow Jones Industrial Average closed out at 0.62 percent lower in the trade yesterday.