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Sensex up by 127 points; TCS, Yes Bank top laggards
Economy

Sensex up by 127 points; TCS, Yes Bank top laggards

Agency News

Mumbai: The benchmark index of Bombay Stock Exchange (BSE), Sensex has gone up by 127 points to 38007 in the morning trades.

Similarly, benchmark index of  NSE, Nifty up by 29 points to 11,264.55. The mood of the market is being influenced by the positive cues from global markets on hopes of a trade deal between the US and China.

Top gainers in the Sensex pack during the early session included Vedanta, Tata Steel, ONGC, SBI, Kotak Bank, Tata Motors, ICICI Bank, HDFC twins and Infosys, rising up to 4 percent.

On the other hand, Yes Bank was the top laggard with losing more than 7 percent. TCS was the other top laggard shedding up to 4 percent, after the largest software exporter on Thursday reported a tepid growth in net income for the September quarter at Rs 8,042 crore, and guided towards more challenges putting a big question mark over its ability to deliver the double-digit growth.

TCS shares fell as much as 3.7 percent to Rs 1,929 per share on the BSE. At 9:34 AM, TCS' stock price was trading 3 percent lower at Rs 1,942. The IT major reported a 1.8 percent year-on-year jump in Q2 net profit at Rs 8,042 crore. Revenue grew 5.8 percent to Rs 38,977 crore in the July-September quarter. The other losers were IndusInd bank, BPCL, and IOC.