Markets: Sensex, Nifty fluctuate; IT, Bank Drag; Pharma bets outperform – World Affairs SRS

Markets: Sensex, Nifty fluctuate; IT, Bank Drag; Pharma bets outperform

– World Affairs SRS

market at 11 am

Live Market Updates: Headline indices were choppy in morning trade amid selling pressure at banking counters such as HDFC Bank, Axis Bank and Kotak Bank as well as banking counters such as Wipro (down 6 per cent) and HCL Technology (down 2 per cent) Was. ,

The BSE Sensex was down 30 points at 61,118 and the NSE Nifty was largely unchanged at 18,216.

Among the broader markets, the BSE Midcap index was also muted, while the Smallcap index was up 0.3 per cent.

Maruti, Tech Mahindra, Asian Paints, Titan & Nestle, HUL and ICICI Bank were the other top losers in the Sensex.

Among sectors, the IT index was among the major losers, down 0.8 per cent. IT majors TCS (up 0.2 per cent) and Infosys (down 0.1 per cent) had lost their early gains.

BS Special: Q3 Earnings Impact: Infy, TCS may rise up to 10%, Wipro may weaken further

In addition, shares of One97 Communications, the parent company of the digital payments major Paytm, fell 51 per cent to a new low of Rs 1,063.75 against its issue price of Rs 2,150 on the BSE. Read more here.,

market at 10 am

LIVE Market Updates: Benchmark indices made sharp gains in early morning trade. The BSE Sensex was up 115 points at 61,265, while the NSE Nifty was up 37 points at 18,250.

On the Sensex, Tata Steel and PowerGrid were the leaders, rising 3 per cent each, followed by Sun Pharma, NTPC, ITC, L&T and RIL.

Wipro, on the other hand, was the biggest loser with a 5 per cent fall after the company reported lower-than-market expectations, with its net profit up 1.3 per cent on a quarter-on-quarter (QoQ) basis at Rs 2,969 crore. Quarter ended December 2021 (Q3FY22). Read here.HDFC Bank, HCL Tech, M&M, Titan, Asian Paints, Axis Bank and IndusInd Bank were other notable losers.

Meanwhile, metal stocks were leading gains across sectors. The Nifty Metal index, led by Tata Steel, Jindal Steel, Hindcopper, Coal India and Vedanta, rose over 2 per cent, all up 3 per cent. Pharma stocks had other gains.

At the same time, business was being done with a fall in Bank, Auto, Realty. IT too was silent now.

Among stocks, shares of Larsen & Toubro (L&T) surged 1.5 per cent to hit a new high of Rs 2,003.65 on the BSE after the company announced that a consortium led by its arm L&T Hydrocarbon Engineering has signed a mega contract (7,000 Received more than Rs. crore) for two offshore packages from a reputed overseas client. Read more


opening bell

LIVE Market Updates: Benchmark indices started on a slightly positive note on Thursday and indulged in a strong rally for the fifth session. The BSE Sensex was up 111 points at 61,266 and the NSE Nifty was up 28 points at 18,240.

In the broader market, BSE Midcap and Smallcap indices were also in the green and were up 0.2 per cent.

PowerGrid, Tata Steel, Sun Pharma, NTPC, Maruti, L&T, Reliance Industries were the top gainers on the Sensex. On Nifty, Tata Steel, Coal India, JSW Steel, UPL, Cipla and Hindalco were additonal IT stocks, Infosys And TCS, which delivered strong December quarter results in line with estimates, was trading 1 per cent higher. Wipro, meanwhile, was down about 5 per cent on the BSE as the company missed revenue growth estimates.

Sectorally, Nifty Metal, Pharma and IT indices were the only gainers ranging between 0.4-1 per cent. Bank, auto, financial and realty indices were in the red zone.

Ahead, Tata Motors Jaguar Land Rover (JLR) was trading nearly 2 per cent lower on the BSE after the company shared a weak update for the third quarter of sales, which continue to be impacted by the semiconductor shortage.

JLR’s retail sales for the quarter stood at 80,126 vehicles, down 13.6 per cent over the September quarter and 37.6 per cent lower than a year ago.


pre-open session

Live Market Updates:

Benchmark indices looked positive in pre-open trade on Thursday. The BSE Sensex was up 425 points at 61,575 and the NSE Nifty was up 45 points at 18,257.


Live Market Updates: Benchmark indices are likely to open higher on third quarter earnings of IT majors Infosys and TCS, which delivered strong performances.

Both TCS and Infosys beat growth estimates, while Wipro fell slightly short of expectations. However, the clear message from the performance of the top three companies was that the pace of growth remained strong in a traditionally soft quarter. Read more

At 08:05 am, the SGX Nifty January futures stood at 18,351, indicating that the NSE Nifty 50 index may open up around 120 points.

Moreover, market action may also be dictated by India’s retail inflation rate, which rose to a five-month high of 5.59 per cent in December. On the other hand, industrial output growth fell to a nine-month low of 1.4 per cent in November, indicating that the economic recovery remains weak.Among individual stocks, Aditya Birla Money, Mindtree and Tata Metaliks could also be watched as companies announce their December quarter results.

global signal

US markets rose on Wednesday after retail inflation hit a 40-year high of 7 percent in December, but within forecast, thus suggesting the Federal Reserve may not have to hike interest rates too aggressively. The Dow Jones, Nasdaq and S&P 500 closed with marginal gains in the range of 0.1-0.3 per cent.

A higher-than-expected fall in US stocks also propelled oil prices. The stock fell to its lowest level since October 2018. Brent crude rose 1.1 percent to $84.67 a barrel, and WTI crude jumped 1.8 percent to $82.64 a barrel.
Major Asian markets, except the Nikkei, looked directionless, down 0.9 per cent. Other stocks such as Hang Seng and Taiwan were up 0.2 per cent and 0.1 per cent, respectively, while Shanghai Composite, Straits Times and Kospi ended 0.1 per cent each.



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