Sensex drops 1.6%; TCS falls the most in 2 years

	Dated:18 October,2011

Sensex drops 1.6%; TCS falls the most in 2 years Indian shares fell 1.6% to their lowest close in two weeks on Tuesday, with export-driven TCS sliding the most in more than two years Market overreacting to TCS results: Viju George, JP Morgan One quarter which is relatively soft does not unnecessarily dampen the overall trend trajectory for next two or three quarters, says Viju George of JP Morgan. Currently cautious on IT sector, but not overly negative: Bhavin Shah In an interview with ET Now, Bhavin Shah, MD and CEO, Equirus Securities, gives his perspective on the entire IT space. Market Round-up SENSEX 16748.29 -276.80 NIFTY 5037.50 -80.75 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Onelife Capital Advisors 175.15 + 20.01 Patni Computer Systems Lt 337.35 + 15.61 Tijaria Polypipes Ltd. 17.80 + 14.84 Everest Industries Ltd. 167.80 + 11.57 Paramount Printpackaging 24.50 + 10.36 NSE Losers Scrip Price(Rs.) %Change Soma Textiles & Industrie 4.85 -19.17 STL Global Ltd. 3.40 -15.00 Jindal Worldwide Ltd. 90.55 -13.10 Chambal Fertilisers & Che 88.15 -13.02 Nissan Copper Ltd. 22.85 -10.04 Views on Stocks/Markets Wait and watch for BHEL: Mitesh Thacker Buy State Bank of India on dips: Mitesh Thacker Buy Petronet LNG with target of 175-180: Ashwani Gujral IPO/Global Markets World stocks fall Asia stocks fall HK shares down Rupee / Gold Rupee down Gold loses Rs 200 Gold falls further More 'Market' News HCL Tech tanks 10% on bourses despite strong earnings HCL today tanked nearly 10% on the bourses although the company posted a 50 per cent jump, year-on-year, in net profit. Aviation stocks like Jet, Kingfisher, Spicejet up on hopes of FDI approval Shares of airline firms rose on reports that India's aviation ministry is considering allowing up to 24% foreign direct investment UBS downgrades Tata Consultancy Services to 'sell' UBS has downgraded India's Tata Consultancy Services to 'sell from 'neutral' while maintaining its target price of 1,000 rupees