Nifty, Sensex hit lifetime highs; TCS gains 1.5%


Equity tips:-

  • Shrugging off the weak cues from most Asian markets, domestic stock market started the holiday-truncated week on a marginally positive note and the benchmark indices notched fresh lifetime highs, led by gains in shares of Tata Consultancy Services and metal and mining companies.
     
  • At 9:49 AM, the Nifty50 at 10500 points, up 7.50 points, or 0.1% from previous close after hitting a record high of 10515.10 points. BSE Sensex peaked to a lifetime high of 34005.37 today and now its trading at 33.86 points, or 0.1% higher at 33974 points.
     
  • Shares of TCS rose 1.5% in early trade after a report said the software major is confident that global corporations will renew large outsourcing contracts even as the number of such deals from new customers shrink.
     
  • IOC and BPCL are both keen to acquire gas utility GAIL India Ltd to become fully integrated energy companies.
     
  • The broader gains were also supported by positive traction in shares of GAIL India, Vedanta, Oil and Natural Gas Corp and Coal India, up 0.7-1.1%.
     
  • Nifty Metal and Nifty Energy indices, up 0.5% each, were the top gainers among the sectoral indices.
     
  • Infosys' shares, down 1.3%, were the worst hit on Nifty50 after a report said co-founder N.R. Narayana Murthy has flayed the high wage hikes that senior managements have been apportioning to themselves.
     
  • Meanwhile, the Indian rupee opened marginally higher at 64.03 per dollar on Tuesday versus 64.05 on Friday.
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