Markets finish flat as Nifty closes in on 10600-mark


The Sensex was down 27 points at 34,589 while Nifty slipped to 10,603. Meanwhile, shares of Tata Consultancy Services (TCS) on Monday surged over 4 per cent, following which the IT major became the first listed Indian company to hit market capitalisation of over United States dollars 100 billion (Rs 6,80,912.10 crore).

The 50-share NSE Nifty rose 29.70 points to 10,614.40 and the 30-share BSE Sensex gained 165.87 points to close at 34,616.64.

This is published unedited from the PTI feed.

Sectoral indices led by realty, auto, FMCG, bankex and consumer durables were trading in the positive zone with gains of up to 0.93 percent.

Financials stocks also rose, with Yes Bank and Kotak Mahindra Bank among top percentage gainers.

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Global markets were weak today as a rise in U.S. bond yields to 3 per cent and warnings from bellwether USA companies of higher costs drove fears that corporate earnings growth may peak soon.

Market breadth was negative with 1750 stocks closing lower against 898 ending higher on the BSE. Shares pared initial gains to trade 0.6 percent lower.

TCS shares were up over 4% as the country's largest software exporter reported a 4.4 per cent growth in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue. The yield on the 10-year Treasury note climbed, settling just below the 3 per cent level. China's Shanghai Composite gained 2 percent and Hong Kong's Hang Seng gained 1.3 percent while Japan's Nikkei rose 0.9 percent.

Worldwide oil prices hit their highest levels since late 2014 due to expectations of renewed USA sanctions against Iran and as OPEC continued withholding supplies amid strong demand.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 680.99 crore, while domestic institutional investors (DIIs) bought shares worth Rs 508.55 crore yesterday, provisional data showed.