Once again on the third trading day of the week, the stock market started again with fluctuation. The Sensex and Nifty started on the green mark, but in just a few minutes it was rolled down to the red zone. At 9.30 am, the Sensex traded below 38,700, while the Nifty came at 11,540 level.
After the general budget is presented, it is the fourth consecutive day when the investors are getting depressed. Market analysts say that the announcement of the government’s tax on buyback on the buyback and the increase in minimum public shareholding in listed companies has kept the environment of disappointment in the domestic investors.
Continuous three business days after the general budget was introduced, the market remained unaffected. On Tuesday, there was a slight increase in the Sensex and the Nifty. The Sensex rose by 10 points to 38 thousand 731, while the Nifty was down 3 points and closed at 11556 levels. Earlier on Monday, the stock market has been the biggest fall of the year. The Sensex, which had lost 792.82 points at 38,020 points, the Nifty also slipped 252.55 points to 11,555 points.
TCS on Red Mark After Profit
Despite the profits in the quarter results of Tata Consultancy Services (TCS), the country’s largest software company, the shares remained in red mark in the initial business. In the first few minutes, TCS shares saw a decline of over 1%. Let me tell you that in the first quarter ended June 30, TCS has earned a profit of Rs 8,131 crore. The company’s profits were Rs 7,340 crore in the corresponding quarter a year ago.
In the first quarter of April to June 2019, when the TCS revenue revenues reached Rs 38,172 crore. In the first quarter of this year, the company had a turnover of Rs 34,261 crore. In the quarter, the company added 12,356 employees. This is the biggest hike in past five years. Currently the total number of employees of the company has reached 4,36,641.