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

By: | Updated:Jul 11, 2018 4:02 pm

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. 

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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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. 

12:47 (IST) 11 Jul 2018
Unstoppable! TCS hits new all-time high

Shares of India's IT giant TCS (Tata Consultancy Services) are rallying since the beginning of the day. The stock of TCS hit an all-new record high in the early afternoon trades. TCS shares rose 4.1% to an all-time high of Rs 1,954 on BSE today. 

12:43 (IST) 11 Jul 2018
Aurobindo Pharma gets USFDA nod for Azithromycin tablets

The Hydrabad-based drug firm Aurobindo Pharma has received final approval from the USFDA to manufacture and market Azithromycin tablets in the US market. Azithromycin tablets are used for the treatment of patients with mild to moderate infections.

12:28 (IST) 11 Jul 2018
US trade threat grips Australian stock market!

Escalating trade tensions knocked Australian shares on Wednesday, as Washington's threat to impose tariffs on a further $200 billion of Chinese imports rang alarm bells across financial markets, Reuters said in a report. The S&P/ASX 200 index shed 0.7% or 42.5 points to end at 6,215.6. Shares of Australia's one of the biggest lender Commonwealth Bank of Australia plunged 0.5% to a one-week low. 

12:22 (IST) 11 Jul 2018
IndusInd Bank share price target raised!

IndusInd Bank share price target has been raised by several brokerages after India's sixth-largest private sector lender posted stable Q1 results on Tuesday. The global research and brokerage firm Macquarie has given a target price of Rs 2,100 per equity share. 

Check IndusInd Bank share price target of other brokerages here

12:09 (IST) 11 Jul 2018
Lupin-Boehringer Ingelheim collaboration

India's major drugmaker Lupin on Wednesday said that it has expanded its collaboration with Germany's Boehringer Ingelheim for co-marketing two oral anti-diabetic drugs in India. Gibtulio Met (Empagliflozin Metformin) and Ajaduo (Empagliflozin Linagliptin), will be the two new oral anti-diabetic drugs approved by the Drugs Controller General of India (DCGI). 'Both these products belong to a novel class of oral anti-diabetic drugs patented in India and will be launched for the first time by an Indian company,' Lupin said in a regulatory filing

11:58 (IST) 11 Jul 2018
China's stock market collapse

China's stocks and yuan fell sharply on Wednesday after the United States threatened to levy 10% additional tariffs on Chinese imports renewing the trade war conflict between the world's two biggest economies. 

11:54 (IST) 11 Jul 2018
TCS shares at all-time high! Should you buy now?

Tata Consultancy Services shares hits record high on stellar Q1 results; should you buy?

Shares of India’s most valued firm Tata Consultancy Services are trading near all-time highs after hitting a fresh record high in the morning deals on the back of stellar Q1 FY19 results. 

11:40 (IST) 11 Jul 2018
Adani Group stocks surge

Shares of Adani Group companies -- Adani Enterprises and Adani Power -- rose more than 7% each in the mid-morning trades on Wednesday. The stock of Adani Power advanced 8.07% to Rs 18.75 and was the biggest gainer among the pack of 'A' group of BSE whereas Adani Enterprises rose 7.27% to Rs 122.45. 

11:37 (IST) 11 Jul 2018
BSE Sensex: Trading under pressure

11:34 (IST) 11 Jul 2018
PNB Housing Finance gains over 6%

Shares of PNB Housing Finance rose 6.4% to a six-week high of Rs 1,269 after the company said PNB and Quality Investment Holdings are selling at least 51% stake. This is the biggest appreciation in PNB Housing Finance shares since 25 June. 

11:29 (IST) 11 Jul 2018
Volatility escalates

Volatility in Indian stock markets escalated on Wednesday due to the renewed trade spat between the United States and China. India Vix, the volatility indicator on NSE, traded dropped 19.2% to a day's low of 10.0150 and advanced 3.23% to 12.7950 on Wednesday. 

11:25 (IST) 11 Jul 2018
Metal share extend losses: Nifty Metal down 2%

Shares of most of the metal companies extended morning losses following the continued worries of the trade war between the US and China. Shares of NMDC, Vedanta and Hindustan Zinc dropped nearly to their respective 52-week lows. Shares of National Aluminium, Vedanta, Jindal Steel, SAIL, Hindalco, Coal India, Hindustan Zinc slipped 2-4%. The Nifty Metal index shed 2.3% to 3,344.35. 

11:20 (IST) 11 Jul 2018
Market reverses gain!

India's share market reversed the gains in the mid-morning deals as blue-chip shares of BFSI, auto and metal cracked. BSE Sensex was trading 0.1% lower at 36,202.81 and NSE Nifty was trading down 0.12% at 10,934.2. Top components of Sensex and Nifty such as HDFC, SBI, ICICI Bank, Coal India, Vedanta, Maruti Suzuki, Tata Motors, Tata Steel and Yes Bank contributed mostly to the losses. 

10:54 (IST) 11 Jul 2018
India's Iran oil import drop 15%

India's oil imports from Iran declined by 15.9 percent in June, the first month after the United States said it would reimpose sanctions on the country, Reuters reported citing the data from shipping and industry sources.

10:35 (IST) 11 Jul 2018
TCS drives Sensex to multi-month highs!

The stock of IT behemoth TCS emerged as the biggest contributor to fuelling the Sensex rally on Wednesday. The S&P BSE Sensex advanced 101.48 points to over a 5-month high of 36,341.08. The stock of TCS alone contributed as many as 60 points to Sensex. 

10:32 (IST) 11 Jul 2018
Will Nifty hit 11,000 today?

NSE Nifty is just 25 points sort of hitting the psychological mark of 11,000. The wider share indicator Nifty 50 surged 27.85 points to a day's high of 10,975.1 following the rally in heavyweight stocks TCS, Tech Mahindra, Axis Bank, HUL, Kotak Mahindra Bank, Infosys, Bajaj Auto and Bharti Infratel.

10:27 (IST) 11 Jul 2018
China is 'shocked' on US trade tariffs!

China's commerce ministry said it was "shocked" by the latest US trade action and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. It called the actions "completely unacceptable," Reuters report said citing a statement released around midday on Wednesday.

10:21 (IST) 11 Jul 2018
TCS hits fresh all-time high!

Shares of India's IT behemoth TCS (Tata Consultancy Services) surged more than 3% in the late-morning deals to a fresh all-time high after stellar Q1 FY19 results. The stock of TCS advanced as much as 3.14% to a lifetime high of Rs 1,935.9 on BSE while the stock added about 3.3% to a record high of Rs 1,936.95 on NSE.

10:12 (IST) 11 Jul 2018
Sensex top trades: TCS, Bajaj Auto, Axis Bank

10:09 (IST) 11 Jul 2018
US' trade tariff plan

The US Trade Representative said Washington is preparing to impose 10% tariffs on another $200 billion in Chinese imports, including 6,031 product lines ranging from burglar alarms to electric lamps and fish sticks. The office will take public comments and hold hearings on the plan before reaching a decision after 31 August 2018, Associated Press reported.

09:58 (IST) 11 Jul 2018
Gold's loss is US dollar's gain?

With the renewed trade war tensions, gold prices fell after hitting a one-week low, while, on the other hand, US dollar surged to an 11-month high against Chinese Yuan. Spot gold shed 0.3% at $1,250.90 an ounce. U.S. gold futures for August delivery were 0.3% lower at $1,251.90 an ounce, Reuters reported.

09:53 (IST) 11 Jul 2018
Copper, Zinc hit 1-year low

Following the latest move of the United States in which Trump administration has threatened to impose trade tariffs on $200 billion Chinese imports, Copper and zinc prices fell to a one-year low. According to Reuters report, Copper and Zinc prices slumped to their weakest in about a year. 

09:48 (IST) 11 Jul 2018
China's reply to US trade threat

"The outburst of large-scale mutual levying of tariffs between China and the United States will inevitably destroy Sino-US trade," AFP reported citing Li Chenggang, Assistant Minister of Commerce, Beijing. 

09:46 (IST) 11 Jul 2018
Sensitive stock markets

"The markets still remain sensitive to the trade-related theme, which is something investors have to take into account for the long term," Reuters reported citing Yoshinori Shigemi, Global Market Strategist, JPMorgan Asset Management, Tokyo.

09:45 (IST) 11 Jul 2018
Metal stocks tank after US threatens with $200 billion trade tariffs

Metal stocks dropped substantially in the morning trade possibly on the United States threatened to impose $200 billion trade tariffs on Chinese imports. Shares of Hindustan Zinc, Hindalco, Vedanta, Jindal Steel, Welspun Corp and JSW Steel fell more than 1% with the benchmark Nifty Metal index losing 1.33%.

09:41 (IST) 11 Jul 2018
Indian markets reverse losses

India's stock markets reversed the morning losses fuelled by the uptick in heavyweight stocks such as TCS and HDFC. BSE Sensex was trading up 0.07% at 36,265.57 and NSE Nifty was trading 0.08% higher at 10,956.4. 

09:36 (IST) 11 Jul 2018
Chinese stock market worst hit

Washington proposed the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement, Reuters reported citing unidentified senior administration officials. Among the Asian stock markets, China's Shanghai Composite shed 1.8%, Japan's Nikkei declined 1.4% while Hong Kong's Hang Seng fell 1.65%.

09:33 (IST) 11 Jul 2018
Asian stock market bleeds!

Following the latest threat of $200 billion trade tariffs from Trump administration rattled the regional Asian share markets. A sell-off in Chinese markets knocked Asian stocks on Wednesday as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world's two biggest economies ever closer towards a full-scale trade war, Reuters report said. 

09:28 (IST) 11 Jul 2018
Market dips in red

The domestic stock markets fell into the negative zone after opening slightly higher with shares of Reliance Industries Ltd (RIL), ITC, Vedanta, Hero MotoCorp and SBI leading the losses. The benchmark Sensex shed 70 points to a day's bottom of 36,169.7. 

09:17 (IST) 11 Jul 2018
Opening Bell!

Indian stock markets opened in positive territory with key equity indices Sensex and Nifty beginning marginally up. BSE Sensex opened at 36,299.26, up by 59.64 points or 0.16% and NSE Nifty opened at 10,956.4, up by 9.15 points or 0.08%. 

09:14 (IST) 11 Jul 2018
TCS, Infosys rise 1% in pre-open

Shares of India's largest and second-largest IT companies TCS and Infosys rose more than 1% in the pre-open session after the Tata Group's cash cow Tata Consultancy Services Q1 FY19 results beat the analyst expectations. TCS has also announced an interim dividend of Rs 4 per equity share which will be distributed on 25 July 2018. 

09:10 (IST) 11 Jul 2018
Foreign exchange market opens!

The Indian rupee started flat on Wednesday against the US dollar after closing down 10 paise in yesterday's session largely on concerns of rising crude oil prices as Brent crude oil touched $79 per barrel on Tuesday. The rupee vs US dollar value was quoted at 68.86, down by 4 paise apiece US dollar, Bloomberg data showed. 

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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