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.
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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.
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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.
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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.
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