Sensex, Nifty Up, TCS Rise, Infosys Falls After Results

Stocks to React Today

Markets extended early gains and hit new intraday high through mid morning session, supported by positive global cues. During mid-morning session, the BSE Sensex was up over 98points at 38,865-level, while Nifty seen at 11672 levels.

Markets see mixed reaction on the results of India’s biggest IT majors TCS and Infosys. Conversely, results of more key companies will be announced this week. Effectively, Sensex and the Nifty will be able to go ahead with the new records.

TCS shares moved up about 3% today morning, after posting a good set of numbers on Friday.  TCS reported a net profit of Rs8,126Cr, for the Q4FY19, beating analysts’ estimates. A strong performance in its banking and financial services sectors boosted the profitability of TCS in the March quarter.

Infosys also reported a strong set of numbers above street expectations. However, why investors were seen disappointed with Infosys was not identified.

Infosys stock opened at Rs724.70 and hit a high of 731.35 intraday morning, and is currently trading at rs722.35 per share, down Rs25.40 or 3.40%

Stocks to see today –  Hathway Cable&Datacom, TV18 Broadcast, Network18 Media & Investments, Reliance Industrial Infrastructure, Tata Metaliks, TRF and Mac Hotels are scheduled to release their results today.

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