MARKETS: Sensex rises 400 points, Nifty reclaims 17,800; Banks gain

Stock market LIVE: In the broader market, the BSE MidCap and SmallCap indices were also in green and were up 0.5 and 0.6 per cent, respectively.

Topics
MARKET LIVE | Markets | Nifty

SI Reporter  |  New Delhi 

Opening Bell

LIVE market updates: The benchmark indices started on a fairly positive note a day after heavy sell-off on weak global cues.

The BSE Sensex was at 59,869, up 267 points, while the Nifty50 was 79 points higher at 17,825. The two indices were 0.46 per cent up, as compared to yesterday's over 1 per cent fall.

In the broader market, the BSE MidCap and SmallCap indices were also in green and were up 0.5 and 0.6 per cent, respectively.

Among the Sensex-30 constituents, Titan, ICICI Bank, HDFC Bank, SBI, Kotak Bank, RIL and PowerGrid were the top gainers, up between 0.9-2.2 per cent. On the Nifty, ONGC, Grasim, BPCL, Coal India and IOC were the additonal gainers.

Sectorally, all indices on the NSE were in the green except pharma (down 0.45 per cent). IT, which was up only 0.02 per cent was also muted. Meanwhile, the Nifty Bank index was the top gainer, up over a per cent.

Notably, among stocks, Titan was trading 2.5 per cent higher after the company on Thursday, in its quarterly update, said that it witnessed a strong demand across its consumer businesses and clocked 36 per cent revenue growth over the festive quarter in 2021. It also added 14 more stores taking its store count to 428.

Similarly, another jewellery player Kalyan Jewellers this morning in an update reported Q3 consolidated revenue growth of over 17 per cent. Gross margins improved sequentially for the Decemebr quarter, it said. The stock was up 3 per cent.
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Pre-open session

LIVE market updates: The benchmark indices were slightly positive in the pre-open session on Friday. The BSE Sensex was 120 points up at 59,720, and the NSE Nifty was 68 points higher at 17,813.

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LIVE market updates: Given the mixed global cues,the key benchmark indices may have a muted start after a day of heavy losses on Thursday. At 8 AM, the SGX Nifty futures were at 17,839 level, which was 39 points higher than Nifty's spot close of the previous day.

Investor sentiment turned jittery on Thursday following a huge sell-off across global markets as fears of a faster-than-expected hike in US interest rates weighed on the markets.

Meanwhile, among stocks, Reliance may be in focus as its arm Reliance Retail has bought a 25.8 per cent stake in Dunzo, a leading quick commerce player, for $200 million as it looks to expand in the online grocery delivery space.

Titan, too, may be eyed as the Tata-owned jewellery business company, in its quarterly update, has said that it witnessed a strong demand across its consumer businesses and clocked 36 per cent revenue growth over the festive quarter in 2021. It also added 14 more stores taking its store count to 428.

Global cues

The US markets ended a choppy session of trade with marginal losses as technology stocks skidded for the second straight day. The Dow Jones slipped 0.5 per cent, while the S&P 500 and Nasdaq were down 0.1 per cent each. Tonight, the markets may take cues from the US jobs data.

Globally, oil prices extended its rally amid unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya. On Thursday, Brent Crude jumped 1.5 per cent to $81.99 a barrel, and WTI Crude gained 1.6 per cent at $79.46 a barrel.

This morning the major markets in Asia were largely holding gains. Kospi had rallied over a per cent. Nikkei and Hang Seng had advanced 0.5 per cent each, while Shanghai Composite and Straits Times moved 0.4 per cent higher, respectively. Taiwan, however, was down 0.2 per cent.

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First Published: Fri, January 07 2022. 08:16 IST
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