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Sensex, Nifty choppy; Tata Group stocks see buying interest

Sep 19, 2014, 02.27 PM IST | Source: Moneycontrol.com

TCS surged over 3 percent followed by Tata Steel and Tata Power with 0.8 percent gains. In the broader space, Tata Investment Corporation, Tata Sponge, Tata Elxsi, Tata Coffee, Tata Teleservices, Tata Chemicals, Tata Metaliks, CMC, Tata Global and Tata Communications gained 1-15 percent.

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Sensex, Nifty choppy; Tata Group stocks see buying interest

TCS surged over 3 percent followed by Tata Steel and Tata Power with 0.8 percent gains. In the broader space, Tata Investment Corporation, Tata Sponge, Tata Elxsi, Tata Coffee, Tata Teleservices, Tata Chemicals, Tata Metaliks, CMC, Tata Global and Tata Communications gained 1-15 percent.

14:00

The News International Team

02:25pm Market Expert

On a one-year basis, the market is already up 36 percent. Sashi Krishnan, CIO, Birla Sun Life Insurance says the equity market has gone up on the back of two main reasons – improvement in macro-economic scenario and potential earnings growth in the next couple of years.

He believes the market at the moment is reflecting these fundamentals, while adding that the only thing that can derail the market from here is if the earnings expectation reverses.

02:00pm Equity benchmarks remained rangebound around its previous day’s closing values but the broader markets maintained upward momentum from early trade.

The Sensex rose 25.73 points to 27137.94 and the Nifty advanced 18.75 points to 8133.50 while the BSE Midcap and Smallcap indices gained 0.2 percent and 0.7 percent, respectively.

About 1453 shares have advanced, 1452 shares declined, and 87 shares are unchanged.

Tata Group stocks saw buying interest today after Moody’s Investors Service on Thursday upgraded ratings of half a dozen Tata Group firms, including TCS and Tata Motors, on account of Tata Sons’ track record in providing timely support to these firms.

The agency upgraded corporate family ratings of Tata Motors to Ba2/Stable from Ba3/Stable, Tata Chemicals’ to Ba1/Stable from Ba2/Stable, Tata Steel’s to Ba2 from Ba3, Tata Steel UK Holdings’ to B2 from B3, Tata Power’s to Ba3/Stable from B1/Negative and affirmed Tata Consultancy Services’ local currency issuer rating at A3/Stable.

TCS surged over 3 percent followed by Tata Steel and Tata Power with 0.8 percent gains. In the broader space, Tata Investment Corporation, Tata Sponge, Tata Elxsi, Tata Coffee, Tata Teleservices, Tata Chemicals, Tata Metaliks, CMC, Tata Global and Tata Communications gained 1-15 percent. However, only Tata Motors and Trent declined 0.4 percent and 0.9 percent, respectively.

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Nifty struggles below 8150; IT & pharma lead

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Sensex, Nifty volatile but midcap, smallcap maintain upsideRead More »

Shares of TCS, Infosys, Sun Pharma, Cipla, Wipro, Coal India and Tata Power topped the buying list, up 1-3 percent whereas L&T, Axis Bank, HUL and Hero Motocorp fell 1-1.6 percent.

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Sensex, Nifty maintain momentum; Wipro, Cipla gain 2%Read More »

TCS, Wipro, Cipla, Tata Power and Hindalco are top gainers in the Sensex. Among the losers are HUL, Axis Bank, M&M, Hero and ITC.

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10:00

Nifty above 8150; TCS top gainer, NBCC most activeRead More »

NBCC, JK Tyre, RS Software, Cyient, Tata Elxsi, TCS and HDFC were most active shares on exchanges.

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Sensex, Nifty flat; ITC & Infosys drag, Suzlon falls 10%Read More »

Tata Power, BHEL, ONGC, Tata Steel and Hero Moto are top gainers in the Sensex. Among the laggards are HDFC, Bharti Airtel, ITC, Infosys and NTPC. Suzlon is down 10 percent.

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