Major indices recorded modest losses and the trend was mostly weak in the broader markets. As a consequence, the benchmark…
Representational image (PHOTO: Getty Images)
Major indices recorded modest losses and the trend was mostly weak in the broader markets. As a consequence, the benchmark Nifty index fell 11 points to 8,396 points.
Here are the major events of the trading day:
* Infosys Technologies Ltd., India's 2nd largest software exporter, reported a 2.8 percent rise in third quarter profit to 3708 crore rupees versus 3,606 crores in the sequential quarter. Revenue, however, dipped 1.2 percent to 17,273 crore rupees compared with 17,310 crore rupees. The stock rose as much as 3.2 percent post earnings, but is now trading 2.2 percent lower at 980 rupees.
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* N. Chandrasekaran, a long time Tata lifer and former CEO of Tata Consultancy Services, is the new Chairman of Tata Sons, India's largest business conglomerate. Chandra, as he is better known as, began his career with the Tatas as a software professional in 1987. He has built TCS into a globally renowned and feared software services behemoth and now faces the challenge of steering the diversified group in volatile times. TCS dropped 3.35 to 2,266 rupees.
* GAIL, ONGC, Aurobindo Pharma, HDFC and Axis Bank rose 1.8-2.9% on the Nifty and were among 20 shares that gained on the Nifty.
* TCS, Infosys, Hindalco, Tata Motors and Idea lost 1.4-3.5% and were among 31 shares that slipped on the Nifty.
* Infosys, TCS and Tata Motors were the top traded shares by value on the NSE. All three stocks fell.
* Infosys, NHPC, Hindalco and Adani Power saw heavy volume based activity. All three stocks lost ground.
* Broader market indices lost 0.1-0.2%. Mid caps and small caps slipped in dull trade.
* Software, Metals, Media and Banking stocks came under selling pressure on Dalal Street. Modest gains were seen on FMCG and Pharma shares.
* The bears had an upper hand in the first two hours of trade with 896 shares falling versus 623 shares that rose.
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