Markets at 12 Noon
LIVE market updates: The frontline indices were seen holding mild gains in a volatile market. The BSE Sensex was up 75 points at 61,225, and the NSE Nifty was at 18,246, higher by 34 points.
The broader markets were seen putting an outperformace with the BSE MidCap and SmallCap indices up 0.3 and 0.5 per cent higher, respectively. All the broader indices on the NSE were also largely positive.
Also read: HCL Tech Q3: Analysts see up to 6% QoQ growth in profit; margins may expand
Infosys and TCS, along with Sun Pharma, Tata Steel, L&T and HDFC were supporting the mild gains of the indices.
Shares of Sun Pharmaceutical Industries hit an over five-year high at Rs 871, up 4 per cent on the BSE on expectation of good earnings growth. The stock of drug maker was trading at its highest level since March 2016. It surpassed its previous high of Rs 860 touched on January 3, 2022. READ HERE TO KNOW MORE.
Among sectors, bank, auto, IT, realty were all in the red. Metals and Pharma indices on the NSE were still the main gainers, up nearly 3 and 2 per cent higher, respectively.
___________________________________________________________________________
Markets at 11 AM
LIVE market updates: The headline indices were choppy in morning trade amid selling pressure in banking counters such as HDFC Bank, Axis Bank and Kotak Bank, along with IT stocks--Wipro (down 6 per cent) and HCL Technology (down 2 per cent).
The BSE Sensex was 30 points lower at 61,118 and the NSE Nifty was largely unchanged at 18, 216.
In the broader markets, the BSE MidCap index too was muted, while the SmallCap index was up by 0.3 per cent.
Maruti, Tech Mahindra, Asian Paints, Titan and Nestle, HUL, and ICICI Bank were the other top losers on 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 shed their opening gains.
BS Special: Q3 earnings impact: Infy, TCS can rally up to 10%, Wipro may weaken further
That apart, the shares of One97 Communications, the parent company of digital payments major Paytm, hit a new low of Rs 1,063.75, falling 51 per cent against its issue price of Rs 2,150 on the BSE. READ MORE HERE.
____________________________________________________________________________
Markets at 10 AM
LIVE market updates: The benchmark indices steadily held opening gains in early morning trade. The BSE Sensex was 115 points higher at 61,265, while the NSE Nifty was 37 points up at 18,250.
On the Sensex, Tata Steel and PowerGrid were the leading gainers, up 3 per cent each, followed by Sun Pharma, NTPC, ITC, L&T and RIL.
On the flip side, Wipro was the biggest loser, down 5 per cent,after the company fell short of market expectation, as it’s net profit was up 1.3 per cent on a quarter on quarter (QoQ) basis at Rs 2,969 crore for the third quarter ended December 2021 (Q3FY22). READ HERE. HDFC Bank, HCL Tech, M&M, Titan, Asian Paints, Axis Bank and IndusInd Bank were the other notable losers.
Meanwhile, metal stocks were the leading gainers across sectors. The Nifty Metal index was up over 2 per cent, led by Tata Steel, Jindal Steel, HindCopper, Coal India and Vedanta, all up 3 per cent. Pharma stocks were the other gainers.
On the other hand, banks, auto, realty were trading lower. IT, too, was now muted.
Among stocks, the shares of Larsen & Toubro (L&T) hit a new high of Rs 2,003.65, up 1.5 per cent on the BSE after the company announced that a consortium led by its arm, L&T Hydrocarbon Engineering, secured mega contracts (over Rs 7,000 crore) for two offshore packages from a prestigious overseas client. READ MORE.
__________________________________________________________________________
Opening Bell
LIVE market updates: The benchmark indices started on a slightly positive note on Thursday adding to a strong rally for a fifth session. The BSE Sensex was up 111 points at 61,266 and the NSE Nifty was higher by 28 points at 18,240.
On the Sensex, PowerGrid, Tata Steel, Sun Pharma, NTPC, Maruti, L&T, Reliance Industries were the top gainers. On the Nifty, Tata Steel, Coal India, JSW Steel, UPL, Cipla and Hindalco were the additonal gainers.
Among IT stocks, Infosys and TCS, which delivered robust December quarter results in line with estimates, were trading over 1 per cent higher. Wipro, meanwhile, was down nearly 5 per cent on the BSE as the company missed revenue growth estimates.
Sectorally, the Nifty Metal, Pharma and IT indices were the only gainers, up between 0.4-1 per cent. Banks, Auto, Financials and Realty indices were in the red zone.
Further, Tata Motors was trading nearly 2 per cent lower on the BSE after the company shared a weak update for third quarter of Jaguar Land Rover (JLR) sales, that are continued to be impacted by semiconducter shortages.
Retail sales of JLR for the quarter were 80,126 vehicles, down 13.6 per cent from the preceding September quarter and 37.6 per cent lower from a year ago.
____________________________________________________________________________________
Pre-open session
LIVE market updates: The benchmark indices were seen positive in pre-open trades on Thursday. The BSE Sensex was up 425 points at 61,575, and the NSE Nifty was 45 points higher at 18,257.
___________________________________________________________________________________
LIVE market updates: The benchmark indices are likely to start higher cheered by Q3 earnings of IT majors Infosys and TCS, which delivered strong performance.
Both TCS and Infosys beat the street estimates on growth, while Wipro slightly fell short of expectations. The clear message, however, from the performance of the top three companies was that the growth momentum is strong, in a traditionally soft quarter. READ MORE.
Among individual stocks, Aditya Birla Money, Mindtree, and Tata Metaliks may also be eyed as the companies announce their December quarter results.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU