Benchmark indices ended
on a strong note on Tuesday after hitting fresh record highs in the intra-day
trade on Tuesday. The Sensex hit a new
lifetime high of 39,364.in the trade while the broader Nifty50 index of the
National Stock Exchange (NSE) surpassed 11,800 level to hit a record of
11,810.Among sectoral indices, private bank stocks gained the most, followed
by financial services and auto stocks.
BUZZING STOCKS Jet Airways ended around 8 per cent lower at Rs 241.50
apiece on the NSE after reports suggested the airline may shut down its
opeartions temporarily.Tata Consultancy Services hit a six-month high,
extending its Monday’s 5 per cent rally on the BSE, after the company reported
better than expected 2.4 per cent growth in constant currency revenue in the
March 2018 quarter of financial year 2018 - 19 The stock settled at Rs 2,132 apiece
on BSE. As polling for Lok
Sabha elections is underway, Nifty's price structure is indicating a major
shift in trend direction.
The index crossed a medium-term moving average crosses
a longer-term moving average. Wipro has largely met the Street
estimates on the revenue and profit fronts for the fourth quarter of 2018-19,
though the revenue growth reported by the country's third-largest IT services
firm was the lowest among the top three players in the last financial year.The
company, however, gave a tepid outlook for the first quarter.The firm also
announced a mega buyback plan of Rs 10,500 crore at Rs 325 a share, making it
the second such repurchase consecutively. The buyback price is 15.4 per cent
higher than Tuesday's closing price on the NSE.For the fourth quarter of
the last fiscal year, Wipro on Tuesday reported a consolidated net
profit of Rs 2,483 crore, a rise of 37 per cent over the year-ago period.
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