Indian Stock Market Opens Flat; TCS Surges Nearly 4% After Strong Q3 Results
The Indian stock market opened flat on Friday as investors reacted to Tata Consultancy Services (TCS) Q3 results, which boosted IT stocks. TCS stock surged 3.7% in early trade to ₹4,186 per share, pushing the IT sector up by over 2%.
Mumbai: The Indian stock market opened flat on Friday as investors reacted to Tata Consultancy Services (TCS) Q3 results, which boosted IT stocks. TCS stock surged 3.7% in early trade to ₹4,186 per share, pushing the IT sector up by over 2%.
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Stock Market Performance: Sensex and Nifty Decline
At 9:34 AM, key indices showed a mixed trend:
- Sensex was trading at 77,442.68, down 177.53 points (0.23%)
- Nifty fell 68.50 points (0.29%) to 23,458
- On NSE, 656 stocks were in green, while 1,477 stocks were in red
Banking, Midcap, and Smallcap Indices Under Pressure
- Nifty Bank declined 67.95 points (0.14%) to 49,435.55
- Nifty Midcap 100 dropped 273 points (0.49%) to 55,472.90
- Nifty Smallcap 100 declined 101.50 points (0.56%) to 18,016.85
TCS Q3 Results Boost IT Stocks
Market analysts stated that TCS’ strong Q3 results indicate that the IT sector remains resilient, driving investor confidence in tech stocks.
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Top Gainers in Sensex Pack:
- TCS, Tech Mahindra, Infosys, HCL Tech, Tata Motors, Nestle India, Bajaj Finance
Top Losers:
- IndusInd Bank, Zomato, NTPC, SBI, Power Grid, Kotak Mahindra Bank, Tata Steel, Axis Bank, Titan, Asian Paints
Global Market Trends Impacting Indian Stocks
The US stock market closed mixed in its last session on Wednesday:
- Dow Jones gained 0.25% to close at 42,635.20
- S&P 500 rose 0.16% to 5,918.30
- Nasdaq dipped 0.06% to 19,478.88
Asian markets showed mixed performance:
- Jakarta and Seoul were trading in green
- Hong Kong, China, Bangkok, and Japan were in red
FII Selling and Market Outlook
Market experts warned that uncertainty surrounding US President-elect Donald Trump’s policies could limit any near-term market rally.
- Foreign Institutional Investors (FII) offloaded ₹7,170 crore worth of equities on Thursday, increasing selling pressure
- Domestic Institutional Investors (DII), however, purchased ₹7,639.63 crore worth of equities on January 9
With corporate earnings season underway, analysts expect stock-specific movements to dominate market trends. Investors will closely watch the IT sector’s resilience and global cues for market direction in the coming weeks.
