Markets at 10 AM
LIVE market updates: The benchmark indices were largely flat in early morning trade after gaining slight momentum at open. The BSE Sensex was up 1.9 points at 61,225, and the NSE Nifty was 12 points higher at 18,267.
The indices were muted amid selling pressures in HCL Technology and HDFC Bank, down 6 per cent and 1 per cent, respectively. Other select counters such as Axis Bank, Tata Steel and Ultratech Cement were also limiting upside.
Shares of HCL Technologies tanked 7 per cent to Rs 1,244 on the BSE after the company Q3 earnings disappointed on the margins front. READ MORE.
On the flip side, shares of Hero MotoCorp (HMCL) gained 5 per cent at Rs 2,703.50 on the BSE after the world’s largest manufacturer of motorcycles and scooters, announced a new investment of up to Rs 420 crore in Ather Energy. READ MORE.
Sectorally, metals, IT and Pharma were the top losers, down between 0.5-1.2 per cent. Auto index, on the other hand, was the top gainer, up 2 per cent. _______________________________________________________________________________
Opening Bell
LIVE market updates: The benchmark indices started on a slightly positive note on Monday amid mixed global cues. The BSE Sensex was up 54 points at 61,277 and the NSE Nifty50 was 36 points up 18,292.
In the broader market, the BSE MidCap and SmallCap indices were also in green and were up 0.4 and 0.6 per cent, respectively.
Among the Sensex-30 constituents, Maruti, SBI, Infosys, Bajaj Finserv, ICICI Bank, PowerGrid, HDFC Bank and RIL were the top gainers. On the Nifty, Hero MotoCorp, Tata Motors, ONGC and BPCL were the additional gainers.
On the downside, HCL Tech was the biggest loser, down over 6 per cent on the NSE. The IT major had reported its Q3 results over the weekend. While, it met street expectations on quarterly revenue and profit. On a yearly basis, the company's PAT fell 13 per cent.
Ultratech Cement, too, was down 1.5 per cent ahead of its Q3 results today. Other major losers included Asian Paints, Axis Bank, HUL, Tata Steel, Sun Pharma, Dr Reddy's, Titan and HDFC Bank.
Sectorally, apart from IT, Pharma, Metals, all NSE indices were in the green led by auto and banks. The Nifty Auto index was up 1.5 per cent, leading the gains.
______________________________________________________________________Pre-open session
LIVE market updates: The benchmark indices were seen muted in the pre-open trades. The BSE Sensex was down 72 points at 61,150, while the NSE Nifty was lower by 25 points at 18,230.
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LIVE market updates: The benchmark indices are likely to start the new week on a lower note after a subdued closing on Friday. At 8 am, the SGX Nifty futures were quoting 18,205.75, which is 76 points lower than Nifty's previous spot close.The market action will largely be stock specific today amid the earnings season.
Among stocks, UltraTech Cement, HFCL, Maharashtra Scooters, Sonata Software, Tata Steel Long Products are likely to be in limelight, as these companies are scheduled to announce the December quarter results today.
Moreover, HDFC Bank and HCL Technologies may also be in focus as the companies announced their Q3 results over the weekend. The former reported a solid 18 per cent YoY jump in Q3 net profit, and the later, too, beat street estimates with a 5.4 per cent QoQ jump in Q3 net profit.
Auto stocks may also be eyed as according to a new Delhi government mandate, aggregators and delivery services would have to ensure that 10 per cent of all new two-wheelers and five per cent of all new four-wheelers are electric vehicles in the next three months.
Further, six airbags have been made mandatory in all cars sold from October 1.
Global cues
The US markets ended on a mixed note on Friday. The Dow Jones was down 0.6 per cent, while the S&P 500 and Nasdaq moved up 0.1 per cent and 0.6 per cent higher, respectively. Tonight, the markets will be shut for Martin Luther King, Jr. Day, holiday.
Meanwhile, oil prices surged on Friday amid supply constraints and worries over the on-going Russian-Ukraine conflict. Brent Crude vaulted 1.9 per cent to $86.06 a barrel, and WTI Crude added 2.1 per cent to $83.82 a barrel.
This morning most of the major Asian markets were seen holding gains. Japan’s Nikkei had advanced 0.9 per cent. Straits Times and Taiwan had gained 0.4 per cent each. Kospi, however, had slipped 1.1 per cent.
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