Share Market Tips: Benchmark indices continue to trade flat; Infosys, TCS down 2%
Equities have continued to be flat. At 10:16 hrs IST, the Sensex is down 23.42 points or 0.06% at 36371.61, and the Nifty down 9.40 points or 0.09% at 10879.40. The market breadth is negative as 825 shares advanced, against a decline of 953 shares, while 86 shares were unchanged.Eicher Motors slipped on Tuesday after the company posted an in-line set of numbers amid concerns over volume growth due to subdued consumer sentiment. Global brokerage firms maintained their positive rating but slashed its earnings estimates to factor weak operating performance.
At 09:30 am, Eicher Motors was trading flat at 20,814. It hit a low of Rs 20100 and an intraday high of Rs 20,869 so far in trade today.
The consolidated profit grew by 2.4 percent year-on-year to Rs 533 crore with low revenue growth and weak operating income. Profit in the same quarter last year stood at Rs 530.9 crore.Equity benchmarks have begun marginally lower, with the Nifty trading just below 10,900.
The Sensex is down 47.42 points or 0.13% at 36347.61, and the Nifty down 13.70 points or 0.13% at 10875.10. The market breadth was narrow as 179 shares advanced, against a decline of 137 shares, while 43 shares were unchanged.
Majority of sectoral indices are trading in the near the flat line, but pain is visible among automobiles, IT and metals. The Midcap index is trading flat.
Coal India, Tata Motors, Indiabulls Housing and IOC were the top gainers, while NTPC, Axis Bank, GAIL and Eicher Motors lost the most. Equity benchmarks are likely to see a mildly higher start as benchmarks are trading higher in pre-opening trade.
The Sensex is up 96.57 points or 0.27% at 36491.60, while the Nifty up 6.00 points or 0.06% at 10894.80.
The rupee has opened flat at 71.17 per US dollar against a previous close of 71.16 per US dollar.
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