Sensex loses 100 points to close shade above 34500

Markets open flat bank stocks major losers

Indian shares rise; TCS market cap crosses $100 bln

The 30-share index was trading higher at 34,585.45 at 1100Hrs, reflecting a gain of 119.85 points, or 0.35 per cent.

The benchmark BSE Sensex was trading higher by almost 150 points on heavy buying in IT, TECk and healthcare stocks. The stock was once again the highlight of the Street as the IT major's shares surged as much as 4 per cent in intra-day trade, making it the first company to breach the $100 billion market capitalisation milestone.

The broader NSE Nifty was up 0.44 percent at 10,610.60 as of 0521 GMT, driven by TCS and Reliance Industries Ltd.

Rising US bond yields and crude oil prices too anxious investors.

Market breadth was negative with 1750 stocks closing lower against 898 ending higher on the BSE.

On the other hand, the S&P BSE metal index declined by 265.55 points, IT index by 227.26 points and Teck (technology, media and entertainment) index by 104.52 points.

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Private sector lender HDFC Bank dropped 0.8 percent despite reporting a 20 percent rise in its Q4 profit. The yield on the 10-year Treasury note climbed, settling just below the 3 per cent level.

Likewise, the yellow metal for delivery in June contracts was trading lower by Rs 69, or 0.22 percent, to Rs 31,363 per ten grams in 223 lots.

Global oil prices hit their highest levels since late 2014 due to expectations of renewed U.S. sanctions against Iran and as OPEC continued withholding supplies amid strong demand.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 387.26 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 259.08 crore yesterday, provisional data released by the stock exchanges showed.

Major gainers were Yes Bank, ICICI Bank, M&M, HUL, Axis Bank, ITC, RIL, Adani Ports, Maruti Suzuki, Dr Reddy's, ONGC, Sun Pharma and Bajaj Auto, rising up to 2 per cent.

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