Sensex ends flat; Reliance, HDFC, TCS top losers
The Nifty took a breather today after surging close to two percent yesterday. The rally which started on Monday post 40-month low inflation data came to halt today on profit booking.
April 17, 2013 / 18:56 IST
Moneycontrol Bureau
The Nifty took a breather today after surging close to two percent yesterday. The rally which started on Monday post 40-month low inflation data came to halt today on profit booking. Gold, crude prices also stabilized after hitting multi-month lows yesterday.The Sensex closed at 18731.16 down 14 points and the Nifty ended below 5700 at 5688. The Nifty closed above its 200 day moving average of 5656.Analysts are of the view that the fall in gold, crude prices will take care of the current account deficit but the problems pertaining to country’s growth are still unaddressed. India Inc is still reeling under slowdown and a mere fall in commodities or a 25 basis points rate cut will not bring them out of the woods.Among the sectoral indices, FMCG was the top gainer, up by 1.41%, with ITC touching its all-time high at Rs 314. Auto, healthcare, metal and realty stocks also gained more than a percent each.Mahindra and Mahindra, Sesa Goa, Ambuja Cements, SBI and Sun Pharma were top gainers on the Nifty. Reliance Industries, Reliance Infra, TCS, Tata Power and HDFC are top losers.Country's largest software services exporter Tata Consultancy Services (TCS) declined more than one percent ahead of fourth quarter earnings on Wednesday after market hours.Analysts on an average expect steady quarter . According to a CNBC-TV18 poll, analysts expect dollar revenue growth of 2.95 percent to USD 3035 million while margins are expected to slip slightly to 26.53 percent as against 27.26 percent QoQ.Reliance Industries and HCL Tech ended lower on profit-booking post Q4 results. The market breadth was marginally positive and volumes were higher compared to the previous session. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
