Indian shares ended flat to slightly higher on Monday despite mixed global cues and a disappointing earnings report from TCS, India’s largest software services firm.
Benchmark indexes Sensex and the Nifty hit fresh record highs of 60,476 and 18,042, respectively in intraday trading before ending off their day’s highs.
The 30-share Sensex ended the session up 76.72 points, or 0.13 percent, at 60,135.78, extending gains for a third day in a row.
The broader NSE index settled at 17,945.95, adding 50.75 points, or 0.28 percent from its previous close.
Tata Motors shares jumped as much as 9.1 percent to extend gains for the third day after the company informed stock exchanges that underlying demand for Jaguar Land Rover products remains strong with order books at record levels.
Coal India rallied 4.4 percent after reports that it will seek approval from its board for divestment of 10 percent of paid-up capital in CMPDIL.
Other PSU stocks such as BPCL, IDBI Bank and Power Grid Corp rose 1-3 percent after the government finally sold its flagship national carrier Air India.
Grasim and Maruti Suzuki India both rose over 3 percent while IT stocks led losses after Q2 earnings from TCS disappointed investors.
TCS shares slumped 6.3 percent, Tech Mahindra lost 2.7 percent, Infosys declined 1.8 percent and HCL Technologies dropped 1.4 percent.
Market Analysis
Sensex Tops 60,100; Nifty Ends Above 17,900
2021-10-11 10:53:18
