Nifty, Sensex hit lifetime highs; TCS gains 1.5%

Shrugging off the weak cues from most Asian markets, domestic stock market started the holiday-truncated week on a marginally positive note and the benchmark indices notched fresh lifetime highs, led by gains in shares of  Tata Consultancy Services and metal and mining companies.

At 9:49 AM, the Nifty50 at 10500 points, up 7.50 points, or 0.1% from previous close after hitting a record high of 10515.10 points. BSE Sensex peaked to a lifetime high of 34005.37 today and now its trading at 33.86 points, or 0.1% higher at 33974 points.

Shares of TCS rose 1.5% in early trade after a report said the software major is confident that global corporations will renew large outsourcing contracts even as the number of such deals from new customers shrink.

IOC and BPCL are both keen to acquire gas utility GAIL India Ltd to become fully integrated energy companies.

The broader gains were also supported by positive traction in shares of GAIL India, Vedanta, Oil and Natural Gas Corp and Coal India, up 0.7-1.1%.

Nifty Metal and Nifty Energy indices, up 0.5% each, were the top gainers among the sectoral indices.

Infosys' shares, down 1.3%, were the worst hit on Nifty50 after a report said co-founder N.R. Narayana Murthy has flayed the high wage hikes that senior managements have been apportioning to themselves.

Meanwhile, the Indian rupee opened marginally higher at 64.03 per dollar on Tuesday versus 64.05 on Friday.


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