Opening Bell
LIVE market updates: The key benchmark indices opened with strong gains on Thursday extending the rally into a third session. The BSE Sensex was up 197 points at 58,663, while the NSE Nifty was at 17,534, higher by 71 points.
PowerGrid, Infosys, HDFC Bank, Tata Steel, Kotak Bank, NTPC, HDFC, Axis Bank, SBI, HDFC Bank and L&T were the top Sensex gainers, trading 0.2-2.4 per cent higher. ONGC, Tata Motors, and JSW Steel were the top Nifty gainers, up 1-2.5 per cent.
Asian Paints, Maruti, HUL, Bajaj Finserv, Reliance, Sun Pharma, Bharti Airtel, ICICI Bank, Coal India, Indian Oil Corp, and SBI Life meanwhile, were the top losers on the bourses, down 0.4-1.5 per cent.
In the broader markets, the BSE MidCap and SmallCap indices were muted with the former up 0.01 per cent and the latter 0.1 per cent down, respectively.
Sectorally, the Nifty Metal and IT indices were leading gains, trading 0.5 per cent higher each. Nifty Auto and FMCG were weak, while rest of the indices were largely unchanged. Nifty Bank and Financial Services were up 0.12 per cent.
Among individual stocks, Nykaa was trading 4.4 per cent lower on the BSE on the back of its Q3 numbers. The e-commerce company reported a 59 per cent YoY drop in Q3FY22 net at Rs 28 crore. Total revenue however increased 36 per cent YoY to Rs 1,098 crore.
Pre-open session
LIVE benchmark indices: The benchmark indices held strong gains in the pre-open trades. The BSE Sensex was up 343 points at 58,809, while the NSE Nifty was at 17,554, higher by 90 points.
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LIVE market updates: The key benchmark indices are likely to start Thursday's session on a muted note with mild gains ahead of the crucial RBI MPC meeting outcome. At 8:05 am, the SGX Nifty Futures were quoting 17,510 level, up 30 points from Nifty's spot close the previous day.
The RBI policy decision could be a key driver for the market in the near term as it may impact liquidity and interest rates. Experts believe a 25 bps points hike in reverse repo rate is on the cards.
Among stocks, Amara Raja Batteries, BEML, Hero MotoCorp, Hindalco Industries, Dr Lal Pathlabs, Lemon Tree Hotels, M&M, Quess Corp, Tata Chemicals and Trent will report their quarterly earnings today.
Nykaa, ACC, SAIL and Tata Power may also be in focus as investors will react to their Q3 numbers announced on Wednesday. READ MORE.
Global cues
The US indices ended with smart gains on Wednesday amid a fall in 10-year Treasury yield. Dow Jones gained 0.9 per cent, the S&P 500 jumped 1.5 per cent and Nasdaq surged 2.1 per cent. On Thursday, the markets will look for cues from inflation numbers, which analysts expect to hit a four-decade high at 7.3 per cent.
Oil prices, also, rose on Wednesday after US inventories reported a decline of 5 mn barrels, indicating higher demand. Brent crude futures advanced 0.9 per cent to $91.55 a barrel, and WTI crude ended 0.3 per cent up at $89.66 a barrel.
Major markets in Asia lacked direction in early trades this morning. Nikkei, Kospi and Taiwan were up – up to 0.3 per cent, while on the other hand, Hang Seng, Shanghai Composite and Straits Times were down – up to 0.3 per cent.
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