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HCL Technologies earns 4% as board of directors reflects on share buyback proposal
HCL Technologies was up 4% at Rs 1000 on BSE in the early morning after the company said Monday after market hours that it will consider buying back shares on July 12th. READ MORE
Special Insight on BS IT Sector: Cross currency to allocate revenue in reported dollars
IT companies in our hedging universe are expected to post a combined 0.8% QoQ increase in dollar revenues in the first quarter of fiscal 2018-2019 (Q1 FY19). Reported dollar earnings are expected to be affected as the dollar strengthens against major currencies, including the euro, the pound and the Australian dollar (2-4% qoq). We expect an unfavorable impact of 40 to 120 basis points of cross currency exchange rates in the first quarter of fiscal year 19. The five largest IT companies are expected to post a 2% to + 2% growth in revenue. In dollars, and TCS should be ahead of the pack. READ MORE Sector Trend
Top winners and losers of Senbad Open Markets
At 9:17, the Sense Sense SSE index was trading at 36,080, up 145 points, while the broader Nifty50 index, was setting at 10,893, up 40 points.
Index
Current
Pt. Change
% Change
S & P BSE SENSEX
35978.33
+43.61
+0.12
S & P BSE SENSEX 50
11379.52
10.35
+0.09
S & P BSE SENSEX Next 50
32,338.31
+55.04
+ 0.17
S & P BSE 100
11 137.46
11.44
0.10
S & P BSE Bharat 22 Index
3,345.49
-0.35
-0.01
(Source: BSE)
Benchmarks are trading at a faster pace by taking indices from their global peers Tuesday ahead of Tata Consultancy Services' (TCS) June quarterly (T1F19) results. The information technology giant (IT) is expected to announce its Q1FY19 results today after market hours.
Apart from TCS, IndusInd Bank is another big company that is expected to announce its results for the June quarter later today.
Meanwhile, investors will also monitor rupee and oil price movements during the day. In global markets, Asian stocks attempted to recover for a third session on Tuesday, as corporate earnings expectations spurred Wall Street, while several resignations by the British government kept the pound on the defensive.
On Wall Street, US stocks rose on Monday, giving the Dow and S & P 500 their biggest gains for the most part. from one month. The Dow Jones Industrial Average rose 320.11 points (1.31%) to 24,776.59, the S & P 500 24.35 points (0.88%) to 2,784.17 and the Nasdaq Composite 67.81 points (0.88%) to 7,756.20.
(with Reuters entries)
