INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Frontline indices Sensex and Nifty trod a shaky road in opening trade on Thursday, tracking mixed Asian cues as investors
restricted their bets seeking more clarity on US-China trade talks that concluded on Wednesday.
Investors are on wait and watch mode and
holding their bets ahead of crucial December quarter numbers
Bandhan Bank and TCS are two companies whose number will influence mood of market today
After falling about 86 points, Sensex climbed 56 points within first 10 minutes of trade, taking a swing of 142 points
Around 9:25 am, BSE Sensex was flat at 36,209, while Nifty index was 11 points down at 10,844.
The BSE Midcap and Smallcap indices were
outperforming Sensex by trading 0.37 per cent and 0.28 per cent up, respectively, at that time
Asian shares took a breather on Thursday after an extended rally, as markets awaited more news on US-China trade talks that have raised
hopes of a deal to avert an all-out trade war between economic giants, Reuters reported.
Oil prices fell by 1 per cent in global markets,
giving a leg up to Indian rupee
Dollar's weakness against it peers on account of increased selling of greenback by exporters and banks, too, improved rupee slightly.
After
opening 6 paise down, rupee was trading 12 paise higher at 70.35 against US dollar in early trade today.
Tata Motors, YES Bank, NTPC, Tata
Steel, ONGC and Infosys were trading among top gainers in Sensex index.
IndusInd Bank, Axis Bank, Asian Paints, HDFC, Kotak Mahindra Bank
and PowerGrid were among top Sensex losers
Shares of IndusInd Bank declined a day after it posted a 5.21 per cent YoY rise in profit at Rs 985.03 crore for December quarter
The stock fell after several brokerages, including Citi cut its target price on stock, while maintained buy recommendation
Credit Suisse has cut FY19E EPS by 12 per cent on stock.
IT heavyweight TCS is set to announce its December earnings today
Centrum Broking expects TCS’ revenues to grow 1.8 per cent QoQ in constant currency (CC) terms and dollar revenues to grow 1 per cent as
cross-currency headwind is likely to cut it by 80 bps
“Ebitda margin may be at 28.5 per cent for Q3FY19, which represents a 60 bps improvement QoQ on a sequential basis
We expect EBIT margin for Q3 to come in at 27.2 per cent, up 70bps QoQ,” brokerage said
