Indian shares pause after record rally; TCS slides

Markets pause record run Sensex ends in red

Benchmark indexes Sensex and Nifty rose about 0.7 percent to hit record highs for the fourth straight session on Thursday as tepid macro data added to pressure on the RBI to reduce interest rates and Fed Chair Janet Yellen's comments about gradual policy tightening soothed fears of a central bank moving too fast.

However, profit bookings and caution ahead of IT major Tata Consultancy Services' (TCS) quarterly numbers capped gains.

The Nifty50 on Friday ended 5 points down at 9,886.35.

Market breadth was in the favour of losers, with about 2 stocks declining to every 1 stock that advanced.

Soon after retail inflation hit a record low, Chief Economic Advisor Arvind Subramanian had said there had been a "paradigm shift" in inflation trajectory and that has been "missed by all".

"Major Asian markets have ended on a positive note, barring the Taiwan index".

Foreign portfolio investors (FPIs) bought shares worth a net Rs 361.25 crore yesterday, PTI reported.

Indian shares snapped a four-day record setting spree to end marginally lower on Friday as investors digested mixed earnings updates from TCS and Infosys and looked ahead to earnings from major USA banks, including JPMorgan Chase, Citigroup and Wells Fargo due later in the day for further direction.

"Nifty, Sensex closed flat for Friday". Both Sensex and Nifty have rallied around 2 per cent in this week.

"FMCG, healthcare, metals, consumer durables, auto, capital goods all closed in the green, whereas oil and gas ended in the red".

Major Sensex losers were: TCS, down 1.85 per cent at Rs 2,398.80; Wipro, down 1.78 per cent at Rs 259.50; Tata Motors, down 1.42 per cent at Rs 451.90; Coal India, down 1.14 per cent at Rs 250.55; and Tata Motors (DVR), down 1.11 per cent at Rs 272.75.

Among Nifty stocks, Aurobindo Pharma was the top gainer, up 5.87 per cent, followed by Gail India, ACC, NTPC and Bharti Infratel.

This is published unedited from the IANS feed.

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