The Sensex is down 11.71 points or 0.03% at 34415.58, while the Nifty is down 1.30 points or 0.01% at 10564.00.
Market at Close: Shares have ended the week on a mildly lower note, but were off the day’s lowest point.
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The Sensex is down 11.71 points or 0.03% at 34415.58, while the Nifty is down 1.30 points or 0.01% at 10564.00. The market breadth is negative as 1169 shares advanced, against a decline of 1428 shares declined, while 175 shares are unchanged.
TCS, Infosys, and Tech Mahindra were the top gainers, while Yes Bank and ICICI Bank lost the most.
Analysts expect rate hike post MPC minutes: The interest rate-setting panel's deliberations point towards a "hawkish" stance in the
future, which may increase the possibility of a rate hike by the Reserve Bank, analysts said.
"Minutes (of the monetary policy committee) suggest that a back-ended rate hike in 2018 remains a possibility, if headline inflation exceeds the trajectory set out by the MPC," domestic rating agency Icra said in a note.
It was also leaning towards hawkishness, which was a view shared by a majority of watchers.
Japanese brokerage Nomura also called the minutes 'hawkish', which has increased the probability of rate hikes.
Its American peer Morgan Stanley said the tone of the minutes was broadly similar, but deputy Governor Viral Acharya's commentary on shifting away from the accommodatory stance was the biggest surprise, reports PTI.
Mahindra CIE Automotive share price gained nearly 2 percent as revenue in January-March quarter grew by 32 percent to Rs 612 crore and profit increased 132 percent to Rs 38.56 crore compared to year-ago.
Reliance General Insurance, a wholly owned subsidiary of Reliance Capital, said gross written premium was Rs 5,122 crore in FY18, an increase of 28 percent over FY17 and profit after tax rose 27 percent YoY to Rs 165 crore.
Combined ratio improved from 120 percent in FY17 to 111 percent in FY18 and investment book increased 19 percent YoY to Rs 7,999 crore.
Reliance General Insurance has 7.7 percent market share in the private sector.
Snapping its three-session rising streak, gold recorded a steep fall of Rs 240 to Rs 32,390 per 10 grams at the bullion market on weak global cues amid easing demand from local jewellers.
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Analysts expect rate hike post MPC minutes: The interest rate-setting panel's deliberations point towards a "hawkish" stance in the
future, which may increase the possibility of a rate hike by the Reserve Bank, analysts said.
"Minutes (of the monetary policy committee) suggest that a back-ended rate hike in 2018 remains a possibility, if headline inflation exceeds the trajectory set out by the MPC," domestic rating agency Icra said in a note.
It was also leaning towards hawkishness, which was a view shared by a majority of watchers.
Japanese brokerage Nomura also called the minutes 'hawkish', which has increased the probability of rate hikes.
Its American peer Morgan Stanley said the tone of the minutes was broadly similar, but deputy Governor Viral Acharya's commentary on shifting away from the accommodatory stance was the biggest surprise, reports PTI.
Mahindra CIE Automotive share price gained nearly 2 percent as revenue in January-March quarter grew by 32 percent to Rs 612 crore and profit increased 132 percent to Rs 38.56 crore compared to year-ago.
Reliance General Insurance, a wholly owned subsidiary of Reliance Capital, said gross written premium was Rs 5,122 crore in FY18, an increase of 28 percent over FY17 and profit after tax rose 27 percent YoY to Rs 165 crore.
Combined ratio improved from 120 percent in FY17 to 111 percent in FY18 and investment book increased 19 percent YoY to Rs 7,999 crore.
Reliance General Insurance has 7.7 percent market share in the private sector.
Snapping its three-session rising streak, gold recorded a steep fall of Rs 240 to Rs 32,390 per 10 grams at the bullion market on weak global cues amid easing demand from local jewellers.
Click here to get Free Commodity Tips
Silver followed suit and declined by Rs 180 to Rs 41,300 per kg on reduced offtake by industrial units and coin makers.
Traders said apart from a weak trend overseas, fall in demand from local jewellers and retailers at prevailing higher levels at the domestic spot market mainly weighed on the precious metals' prices, reports PTI.
TCS eyes USD 100 billion in market cap: TCS is the most valued company at Dalal Street, with a market capitalisation of Rs 6.5 lakh crore and inching towards to become the first USD 100 billion company after its healthy earnings performance and strong commentary.
Traders said apart from a weak trend overseas, fall in demand from local jewellers and retailers at prevailing higher levels at the domestic spot market mainly weighed on the precious metals' prices, reports PTI.
TCS eyes USD 100 billion in market cap: TCS is the most valued company at Dalal Street, with a market capitalisation of Rs 6.5 lakh crore and inching towards to become the first USD 100 billion company after its healthy earnings performance and strong commentary.
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