1. Share Market Today: TCS stock emerges as winner while Sensex, Nifty end flat on US’ tariffs threat

Share Market Today: TCS stock emerges as winner while Sensex, Nifty end flat on US’ tariffs threat

Share Market Live Updates: Indian equity markets ended on a flatter note on Wednesday with Sensex and Nifty just managing to close in green while mid-cap stocks, auto shares, PSU bankers and metals finished with moderate to heavy losses. 

By: | Updated:Jul 11, 2018 4:02 pm
Share Market Live Updates: A man walking past the Bombay Stock Exchange building. (Image: Reuters)

Share Market Live Updates: Indian equity markets ended on a flatter note on Wednesday with Sensex and Nifty just managing to close in green while mid-cap stocks, auto shares, PSU bankers and metals finished with moderate to heavy losses. Shares of the Mumbai-headquartered India’s largest IT services and Tata Group’s cash cow TCS (Tata Consultancy Services) emerged as the winner among Sensex and Nifty today with its share price rising over 6% to a new all-time high.

TCS share price rose more than 6% intraday to a fresh all-time high on Wednesday after the company posted stellar Q1 FY19 results and announced an interim dividend of Rs 4 per equity share on Tuesday. Both the headline indices Sensex and Nifty hovered near their respective all-time highs at several instances in the day. Earlier on 29 January 2018, BSE Sensex made a record high of 36,443.98  while NSE Nifty made a life high of 11,171.55.

Though, on a collective basis, share markets traded with caution following the sharp dip in the Asian share markets after the United States threatened to impose trade tariffs on about $200 billion worth of Chinese goods. The sentiments were also subdued ahead of macro data lined up for tomorrow. Most of the Asian stock markets fell with China, Japan and Hong Kong markets being worst hit.

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Share Market Live: New on Sensex, Nifty, top stocks, trade war and more

15:53 (IST) 11 Jul 2018
All about TCS shares rally today

Shares of India's most valued firm TCS extended the morning gains after opening marginally higher as most of the domestic and international brokerages raised their respective target prices following the better-than-expected Q1 FY19 results of the IT giant.

TCS stock in numbers today

  1. TCS share price surged 6.29% to hit an all-time high of Rs 1,995 before closing at a fresh record closing high of Rs 1,979.6, up by 5.47% on BSE.
  2. The stock of TCS rallied even higher on NSE with the share price rising Rs 1,998, up by 6.55% before concluding up 5.06% at Rs 1,970. 
  3. TCS trading volumes: More than 2.4 crore equity shares got exchanged on NSE and BSE with about 2.29 crore equity share traded on NSE alone. 
  4. TCS m-cap climbed above Rs 7.5 lakh crore mark and at the closing on Wednesday, TCS commands an m-cap of Rs 7,57,904.74 crore, up by Rs 39,281.18 crore from Tuesday's m-cap of Rs 7,18,623.56 crore.
  5. The stock of TCS was the biggest contributor to Sensex and Nifty today, as at closing TCS shares alone added about 103.3 points to Sensex.
15:36 (IST) 11 Jul 2018
Sensex ended in green: Thanks to TCS shares!

15:34 (IST) 11 Jul 2018
Closing Bell!

India's share market closed flat on Wednesday with the key equity indices Sensex and Nifty finishing unchanged after a volatile session, autos, PSU banks, metals and mid-cap stocks ended with heavy losses. The S&P BSE Sensex ended at 36,265.93, up by 26.31 points or 0.07% while NSE Nifty settled at 10,948.3, up by 1 point or 0.01%. 

15:27 (IST) 11 Jul 2018
Sensex: Top 5 gainers and losers

The benchmark Sensex index turned flat as the closing bell came near as shares of Coal India, ICICI Bank, SBI, HDFC and Maruti Suzuki cracked. The top five gainers on BSE Sensex were TCS, Bajaj Auto, HUL, RIL, Infosys while shares of Coal India, Vedanta, Tata Motors, Tata Steel and ICICI Bank emerged as the top laggards. 

15:01 (IST) 11 Jul 2018
UK's stock market hit by US' trade warning

UK stock markets started in negative territory on Wednesday as the United States threatened to slap 10% tariffs on a list of $200 billion worth of Chinese imports, escalating a trade war further and sending jitters across global markets, a Reuters report said. The blue-chip FTSE 100 index slid 1.35% at 7,588.08 points following other European markets, with losses across all sectors on London Stock Exchange. 

14:56 (IST) 11 Jul 2018
TCS shares at fresh record high of Rs 1,995

The stock of TCS -- biggest gainer on Sensex and Nifty -- marked another record high of Rs 1,995, up by 6.29% on BSE. At the all-time high share price, TCS' registered an all-time high market capitalisation of Rs 7.63 lakh crore. The stock of TCS was the biggest contributor in driving the headline indices Sensex and Nifty. 

14:49 (IST) 11 Jul 2018
Gold, silver prices in Delhi today

At New Delhi's bullion market, gold prices fell by Rs 30 to Rs 31,350 per 10 grams mostly due to a weak trend overseas and lower demand from local jewellers and silver prices declined by Rs 150 to Rs 40,500 per kg. 

14:47 (IST) 11 Jul 2018
European stock market opens!

European stocks fell on Wednesday as an escalation in the U.S.-China trade dispute looked set to bring a six-session winning streak to an end, Reuters said in a report. Though investors have been looking positively towards the second-quarter earnings season, the increasingly uncompromising rhetoric on trade has weighed on equities recently, the report added. 

14:33 (IST) 11 Jul 2018
Fortis board meeting on 13 July

A meeting of the board of directors of Fortis Healthcare has been scheduled for 13 July 2018 to consider fundraising through the issue of securities on a preferential allotment. Shares of Fortis Healthcare are trading 1.78% down at Rs 137.85 on BSE. 

14:21 (IST) 11 Jul 2018
TCS shares at new all-time peak

Shares of TCS continued the uptick on Wednesday and surged 6.07% in the afternoon deals to a fresh all-time peak of Rs 1,991 on BSE. The stock advanced 6.27% to an all-time high of Rs 1.992.75 on NSE. Heavy trading volumes were seen on exchanges as more than 1.98 crore equity shares have been traded so far amounting to a turnover of Rs 3,858 crore. 

14:16 (IST) 11 Jul 2018
Markets at lunch!

Indian equity markets managed to sustain the gains following the massive rise in TCS shares. BSE Sensex surged 106.63 points to a day's top of 36,346.25. TCS, Infosys, RIL, HUL, Kotak Mahindra Bank and HDFC Bank emerged as the biggest contributors to the Sensex upsurge, these six stocks alone added about 225 points to the index while a dip in shares of ICICI Bank, SBI, ICICI Bank, Coal India, Vedanta and Maruti Suzuki wiped off 100 points. 

13:24 (IST) 11 Jul 2018
TCS spikes 5%!

TCS shares spike more than 5% in the afternoon deals extending the morning gains. The stock of TCS surged 5.2% to a new all-time high of Rs 1,974.6 on BSE. The stock of TCS topped the turnover on National Stock Exchange, as at 1:22 pm, about Rs 2,830.91 crore worth of equity shares of TCS exchanged hands on NSE only. 

13:18 (IST) 11 Jul 2018
TCS share price target: Rs 2,080

The domestic research and brokerage firm Prabhudas Lilladher has recommended 'accumulate' on TCS shares with a target price of Rs 2,080. "We reset our USD/INR assumptions lower to which leads to us drive margin and EPS upgrades (USD vs INR estimates at 67/67 for FY19/FY20E vs 65/65 earlier). We model EBIT margins at 25.7/25.1% for FY19/FY20E (vs 24.8% in FY18). Our EPS estimates are upgrades by 4/4% for FY19/FY20E to Rs 80/85/sh. TCS stock trades at 23x one year forward EPS (vs 19.3x traded four months ago). TCS trades at 22.2x FY20E EPS. TCS now trades at 5% premium to Accenture. Upgrades TP by 4% to Rs2080/sh (24x FY20E EPS) led by EPS upgrade. Retain Accumulate," Prabhudas Lilladher said in a research note. 

13:12 (IST) 11 Jul 2018
TCS continues to rally!
13:06 (IST) 11 Jul 2018
TCS grabs another feat, climbs Rs 7.5 lakh crore in m-cap for first time!

India's most valued company TCS (Tata Consultancy Services) clinched another feat on Wednesday after hitting all-time highs. Following the steep surge in TCS share prices, the market capitalisation of IT bellwether crossed Rs 7.5 lakh crore. TCS -- only Indian company with a market capitalisation of Rs 7.5 lakh crore. According to the latest data available with BSE, TCS held a market capitalisation of Rs 7,50,228 crore on the basis of the all-time high share price of Rs 1,959.9. 

The S&P 500 rose on Tuesday to post its highest closing level since 1 February, the day before the market began a sharp extended selloff, as strong results from PepsiCo boosted optimism about the earnings season, Reuters reported. During the regular session, the Dow Jones Industrial Average rose 0.58% to end at 24,919.66, while the Nasdaq Composite added 0.04% to 7,759.20 and the S&P 500 gained 0.35% to 2,793.84.

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