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Sensex Ends Lower, Banks Lead Losses; TCS Shares Surge 7% On Positive Q4 Results

Bond yields spiked today as minutes of the central bank's policy panel meeting stoked expectations of an interest rate hike.

The Sensex and Nifty fell marginally today. A surge in IT stocks led by Tata Consultancy Services Ltd (TCS) helped cap losses. The shares of India’s biggest IT company today surged nearly 7 per cent after its fourth-quarter earnings beat market expectations.

Investors cheered the results of TCS, sending its shares to an all-time high after the country’s top software services exporter posted its biggest-ever profit on Thursday.

Bond yields spiked today as minutes of the central bank’s policy panel meeting stoked expectations of an interest rate hike. This led to sharp losses in banking stocks while the rupee dropped to its lowest in more than a year.

“Release of the minutes revive the risk of an earlier-than-expected rate hike,” Morgan Stanley said in a note. Asian markets fell today, with MSCI’s broadest index of Asia-Pacific shares outside Japan losing 0.8 per cent.

The Sensex ended 11 points lower at 34,415 while Nifty slipped by 1 point to 10,564.

“Markets will remain volatile this year as they are making new highs and factors such as upcoming elections, crude prices and dollar will only add to the volatility,” Sudhakar Pattabiraman, head of research operations at William O’Neil’s MarketSmith.

Oil dipped on Friday but stayed near three-year highs reached earlier this week, with the ongoing Organization of the Petroleum Exporting Countries (OPEC)-led supply cuts and strong demand gradually drawing down excess supplies.

The underlying sentiment in India, however, is positive and the earnings season will set the future trajectory for the markets, Mr Pattabiraman said.

Metal stocks lost shine with the NSE metal index shedding 0.7 per cent following a five-session winning run.

However, IT stocks shrugged off the weakness in broader market with the NSE IT index rising nearly 5 per cent.

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Sensex Ends Lower, Banks Lead Losses; TCS Shares Surge 7% On Positive Q4 Results
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Opinion Poll
With assembly election ahead With assembly election ahead, well known Digital Media platform clipper28.com has decided to gauge the mood of Chhattisgarh through its own opinion poll. As an aware voter and stakeholder of the democratic process, kindly do answer the following questions so that prevailing mood of state can be ascertained.
Name
Age
Assembly Segment
Phone Number
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Which party will win how many seats?
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Have you witnessed development work in your area?
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Are you satisfied with the amenities provided by the government in your area?
Do you think the state government has successfully tackled naxal menace?
Are you satisfied with work done by different state Ministers?

Please do vote...

ओपिनियन पोल
छत्तीसगढ़ की आगामी विधानसभा चुनाव के लिए डिजिटल मीडिया ‘clipper28.com’ नेसटीक ओपिनियन पोल करनेका निश्चय किया है. अतः आप नीचे दिए सवालों के निष्पक्ष जवाब देंताकि राज्य की आने वाले दिनों की सही सियासी तस्वीर सामनेआ सके. कृपया अपना मत जरूर दें- With assembly election ahead
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विधानसभा चुनाव में सबसे बड़ी पार्टी कौन सी होगी ?
किस पार्टी को कितनी सीटें मिलेगी?
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जो रोजगार छत्तीसगढ़ सरकार ने दिया, क्या उससे युवा वर्ग संतुष्ट है?
राज्य सरकार ने महिलाओं के सशक्तिकरण के लिए जो किया, उससे महिलाएं संतुष्ट हैं?
क्या आप अपने विधायक से संतुष्ट हैं? उन्होंने अपने वादे पूरे किए या अधूरे हैं उनके काम?
क्या आप अपने क्षेत्र की सरकारी सुविधाओं सेसंतुष्ट हैं?
क्या नक्सली समस्या पर नियंत्रण हुआ है?
क्या प्रदेश के मंत्रियों के कामकाज से संतुष्ट हैं?
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