Stock market creates another all time high on 12 July
The Sensex climbed more than 900 points to a record high of 80,893. Nifty also breached 24500 level going up 270 points, it reached an all-time high of 24,592. However, the market saw profit booking at these levels and came down slightly from the record high.
At the time of writing out of 30 Sensex stocks, 25 are up and 5 are down. The IT index has gained about 4% today after strong quarterly results from TCS. TCS stock is trading above Rs 4180, up about 7%. Infosys, Tech Mahindra and HCL Tech are also up about 3.5 per cent.
Three big things related to the market
TCS released its first quarter results for FY25 on Thursday. After strong results, its stock is up about 7% today. Infosys stock has also gained about 3.5%. This is supporting the market. On Thursday, domestic investors bought while foreign investors sold. According to NSE data, DIIs bought shares worth Rs 1,676.47 crore. During this period, FIIs sold shares worth Rs 1,137.01 crore.
US markets closed in the red on Thursday. Nasdaq fell 1.95% to 18,283 points. The Dow Jones Industrial Average rose 0.08% to close at 39,753.75 points. The S&P 500 fell 0.88%.
TCS earns Rs 12,040 crore profit in first quarter
India’s most valuable IT company Tata Consultancy Services Limited (TCS) has a consolidated net profit of Rs 12,040 crore in the first quarter (April-June) of FY 2024-25. It has increased by 8.72% on an annual basis.
In the same quarter a year ago, the company had a net profit of Rs 11,074 crore. Talking about the earnings during this period, the total in the April-June quarter was Rs 63,575 crore. There has been an increase of 5.44% on an annual basis.
TCS has also announced a dividend of Rs 10 per share to its shareholders. Companies give a part of the profit to their shareholders, it is called dividend. TCS shares closed 0.18% down at Rs 3,902 yesterday.
US markets closed in decline
US markets closed in decline on Thursday. Nasdaq fell 1.95% to 18,283.41 points, while the Dow Jones Industrial Average rose 0.08% to close at 39,753.75 points. S&P 500 also fell 0.88%. It closed at 5,584.
On Thursday, domestic investors (DIIs) bought, while foreign investors (FIIs) sold. According to provisional data of NSE, DIIs bought shares worth Rs 1,676.47 crore. During this period, FIIs sold shares worth Rs 1,137.01 crore.
The market closed flat on Thursday
The stock market saw flat trading on July 11. The Sensex closed at 79,897 with a decline of 27 points. At the same time, Nifty also declined by 8 points, it closed at 24,315. Out of 30 Sensex stocks, 16 rose and 14 fell.
