INSUBCONTINENT EXCLUSIVE:
overcame a weak start to end higher today, logging their eighth straight sessions of gains
Sensex started on a weak footing today, tracking broader sluggishness in Asian markets
Selling pressure in Infosys shares, which fell as much as 6 per cent in early trade, weighed on Sensex
But gains in pharma, FMCG and banking stocks helped the Sensex offset the drag from IT stocks
The Sensex ended 112 points higher at 34,305
The Nifty settled at 10,528, up 47 points.Shares of India's second-largest IT services company, Infosys, came under strong selling
pressure after it forecast FY19 operating margin between 22 to 24 per cent, which Credit Suisse said was 100 basis points below
expectations, and slightly lower than the previous year's 24.3 per cent
Infosys shares settled 3 per cent lower at Rs 1,132.The future trajectory for the markets will depend more on corporate results, said Anita
Gandhi, Whole Time Director at Arihant Capital Markets
Another IT major TCS is set to announce earnings later this week.Tata Motors Ltd shares fell nearly 5 per cent and was among the top
percentage losers among NSE50 stocks
The automaker's unit Jaguar Land Rover will cut about 1,000 jobs and production at two of its English factories due to a fall in sales
caused by uncertainty around Brexit and confusion over diesel policy, Reuters reported, citing a source.State-run UCO Bank plunged over 6
per cent as the CBI filed a case on Saturday against bank's former chairman, several business executives alleging criminal conspiracy that
caused a loss of Rs 621 crore.Meanwhile, Gruh Finance gained 4 per cent after the housing finance firm, a unit of Housing Development
Finance Corp Ltd (HDFC), posted an 18 per cent jump in March-quarter profit on Saturday
HDFC shares were up nearly 2 per cent.
