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Sensex loses 100 points to close shade above 34500

25 April 2018

The NSE Nifty, after shuttling between 10,636.80 and 10,569, finally settled 29.65 points, or 0.28 per cent higher at 10,614.35. 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 Dollars 100 billion (Rs 6,80,912.10 crore). The gauge had gained 201.06 points in the previous two sessions.

This is published unedited from the PTI feed.

The rupee, meanwhile depreciated 21 paise to 66.59 against the U.S. dollar today at the interbank foreign exchange due to appreciation of the greenback amid rising USA bond yields and surge in global crude oil prices.

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.

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Financial stocks dropped today, with HDFC Bank and ICICI Bank dragging down the indexes.

The market breadth was narrow as 1391 shares advanced against a decline of 1290 shares, while 165 shares were unchanged.

Bharti Airtel also ended 0.61 per cent higher while IDFC Bank dropped 1.24 per cent ahead of their Q4 results.

The 10-year U.S. Treasuries yield rose to as high as 3.003 per cent on Tuesday.

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The broader markets underperformed the benchmark index, with the S&P BSE mid-cap index closing lower by 0.02 per cent and the small-cap index by 0.13 per cent.

Oil prices slipped back from near 3-1/2-year highs as talks between US President Donald Trump and French President Emmanuel Macron eased concerns Washington may reinstate sanctions against Iran.

On a net basis, domestic institutional investors had bought shares worth a net Rs 111.01 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 21.02 crore on Friday.

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Sensex loses 100 points to close shade above 34500