Sensex Touched Higher As TCS Shares Boosted Sentiment

Key benchmark indices managed to close Monday with reasonable gains after opening on a flat note.  At close, the BSE Sensex gained 138.73points at 38,905.84 and the NSE Nifty closed 46.90 points higher at 11,690.35

Among stocks, TCS, Tata Motors, Coal India, Tata Steel and Kotak Mahindra Bank were the top gainers on the Nifty. On the other hand, Infosys, Bharti Infratel, Sun Pharma, GAIL, and Yes bank were losers.

Nifty Pharma, Media and PSU Bank ended in the red while all the other sectoral indices were closed in profits.  Nifty Metal, Nifty Realty and Nifty Auto were the top gainers, rising 2 percent each.

The Nifty IT index advanced 1 percent as rupee extended its losses for the second repeated trading session. Depreciation in rupee also provided support in the index. The rupee extended its declines for the second straight session on Monday and depreciated 17pd to trade at day’s low of 69.34 against the dollar.

Shares of TCS ended near 5% high after the Company posted its best revenue in 15 quarters, while Infosys suffered the biggest declines, finishing down 2.61% after it failed to amaze investors with its operating margin estimate for fiscal 2020.

Shares of Tata Motors climbed 7.43% to its highest close in recent months, becoming the top percentage gainer on the indexes.