Markets at 12 noon
LIVE market updates: The frontline indices were seen extending gains in noon deals deriving support from positive global peers. The BSE Sensex was up 908 points at 58,109 while the NSE Nifty was at 17,370, higher by 268 points.
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Tech M was the top gainer on the Sensex, up 4.5 per cent, followed by Dr Reddy's, which was trading over 3 per cent higher on the back of robust Q3 performance. Next in line were IT majors Wipro, Infosys and heavyweight RIL, up 2.5-3 per cent. BPCL was the additional gainer on the Nifty, up nearly 4 per cent ahead of its earnings.
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In the broader markets, the BSE MidCap index was outperforming the benchmarks and was up 1.5 per cent. From this pack, InfoEdge, Mindtree, UBL, Jubilant Foo, Canara Bank, India Hotels, AU Small Finance Bank, and Godrej Properties were the top gainers, up between 4-7 per cent.
InfoEdge had gained 7 per cent among MidCaps on the back of strong Q3 results. The company posted a 90.7 per cent rise in standalone net profit to Rs 133.25 crore from Rs 69.87 crore in Q3 FY21. Its net sales increased by 48.1 per cent on-year to Rs 403.26 crore during the quarter.
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Similarly, recently listed player Chemplast Sanmar was trading a whopping 17 per cent higher after the chemical company posted a 48 percent jump in consolidated PAT to Rs.236.86 crore on revenues of Rs.1,431.68 crore for the December quarter.
Elsewhere in Asia, markets were mostly trading higher after the Wall Street put up a strong show overnight. Japan's Nikkei 225 had added 1 per cent, while the Hang Seng index in Hong Kong was also 1 per cent up. The Kospi index in South Korea was also higher by 1.87 per cent.
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Markets at 11 AM
LIVE market updates: The key benchmark indices continued to stay firm and held onto gains after being pressured through out the last week amid a global sell-off.
Market participants are now seen putting behind apprehensions of interest rate hikes from March by the US Federal Reserve and gearing up for the Union Budget on Tuesday.
That said, the benhcmark BSE Sensex was 703 points higher at 57,904, while the NSE Nifty was at 17,308, higher by 205 points.
A strong broad-based rally across IT, pharma, auto, and realty sectors is supporting the significant gains in the benchmarks. The Nifty IT index was up 3 per cent, leading sectoral gains, while Nifty Pharma, Realty, Oil & Gas were up 2 per cent each. The auto index was next in line, up 1 per cent a day before auto companies announce their January sales numbers.
On the Sensex, only Kotak Bank and IndusInd Bank were the losers, while on the Nifty, Coal India was the only additional loser.
In the primary market, the IPO of Adani Wilmar had been subscribed 1.63 times so far on the last day, while the retail portion was subscribed 2.56 times.
Among stocks, shares of Bharat Dynamics (BDL) hit a new high of Rs 507.80, on rallying 5 per cent on the BSE ahead of Budget. The stock of state-owned defence company has rallied 27 per cent in the past three weeks, as compared to 4 per cent decline in the S&P BSE Sensex. READ MORE.
Further, NIIT surged 8 per cent to Rs 427 extending its two-day rally to 14 per cent on on the BSE after the company’s board approved the composite scheme of arrangement which would result in Corporate Learning Group (CLG) Business and Skills & Careers Group (SNC) Business to be reorganized as separate publicly listed companies. READ MORE.
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Markets at 10 AM
LIVE market updates: The benchmark indices weresteady in early morning trade after opening with significant gains. The BSE Sensex was up 666 points at 57,866, while the NSE Nifty was at 17,306, higher by 204 points. The two were higher up to 1.2 per cent.
The upmove was being supported by gains in RIL, Infosys, SBI, ICICI Bank, and TCS, which were trading up 1-2 per cent. Other leading gainers were Tech M, Dr Reddy's, Wipro, Tata Steel, HCL Tech, Bajaj Finserv, Powergrid and Bharti Airtel.
On the flip side, IndusInd Bank was the top loser, down 2.5 per cent as investors seemed unimpressed with its Q3 performance announced on Saturday.
Meanwhile, the broader markets were also gaining with the BSE MidCap and SmallCap indices trading up to 1.4 per cent higher.
Shares of Larsen & Toubro (L&T) slipped 2.5 per cent to Rs 1,851 on the BSE after the company reported a 17 per cent year-on-year (YoY) decline in consolidated net profit at Rs 2,055 crore for the December quarter (Q3) as high raw material costs ate into the bottom line even as net sales rose. READ MORE.
This apart, cash management services company AGS Transact Technologies made its debut on a tepid note. The stock got opened at Rs 176 on the BSE as compared to its issue price of Rs 175. It was trading nearly 2 per cent up around 10 am.
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Opening Bell
LIVE market updates: The benchmark indices started higher on Monday with support from positive global markets and on the back of broad-based buying. The BSE Sensex was up 696 points at 57,876 and the NSE Nifty was at 17,316, higher by 214 points.
On the flip side, IndusInd Bank, L&T, Coal India and NTPC were the sole losers on the bourses.
In the broader markets, the BSE Midcap and SmallCap indices were in the green, up 1.3 and 1.4 per cent, respectively.
Sectorally, all Nifty indices were also in the positive territory, led by Nifty Realty and IT indices, up over 2 per cent each. These were followed by Auto, PSU banks, Consumer Durables and Oil & Gas indices, all up 1 per cent each.
Among individual stocks, NIIT was among the top gainers on the BSE, up 7 per cent on the back of strong Q3 results announced on Friday. The company reported a 32 per cent jump in net profit to Rs 55 crore for the December quarter, and said its Corporate Learning Group (CLG) and Skills and Careers Group (SNC) businesses will be reorganised as separate publicly listed companies. Its revenues grew 51 per cent to Rs 383.6 crore from the year-ago period.
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Pre-open session
LIVE market updates: The benchmark indices were seen holding strong gains in pre-open trades. The BSE Sensex was at 57,804, up 609 points, while the NSE Nifty was 169 points higher at 17,271.
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LIVE market updates: The key benchmark indices are likely to start higher on Monday amid positive global cues. At 8 am, the SGX Nifty futures were quoting 17,270 level, indicating a gap-up of over 100 points for the NSE Nifty benchmark.
This apart, markets will take note of the FY23 Economic Survey that the government will table at noon today, ahead of the Union Budget on Tuesday. Further, India's GDP growth and core infra output will also be announced today after market hours.
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