Sensex, Nifty erase early gains; TCS falls ahead of Q3 earnings
Epic Update TCS
Epic Update TCS
The Sensex fell 112.01 points to 24713.03 and the Nifty declined 38.90 points to 7524.95. About 1233 shares have advanced, 1004 shares declined, and 148 shares are unchanged on the BSE.
However, the market breadth continued to be strong as more than two shares advanced for every share declining on the Bombay Stock Exchange. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.3-0.5 percent.
TCS slipped 1 percent as its third quarter earnings are expected to be muted with profit falling 0.8 percent and dollar revenue growth at 0.7 percent on sequential basis, impacted by Chennai floods. Infosys and Wipro also declined over 0.5 percent.
ONGC and Axis fell more than 1.5 percent while L&T, NTPC, Adani Ports, BHEL and GAIL gained 1-2 percent.
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