Business News›Markets›Stocks›Live Blog›Share Market LIVE Updates: Sensex jumps 900 points, Nifty above 18,100; IT stocks rally; TCS up 3% ahead of Q3 show
LIVE BLOG
Economic Times | 09 Jan, 2023 | 11:37AM IST
Share Market LIVE Updates: Sensex jumps 900 points, Nifty above 18,100; IT stocks rally; TCS up 3% ahead of Q3 show
Sensex Today Live: Indian shares opened higher on Monday, aided by a broad risk-on sentiment in the region after U.S. data hinted at less aggressive rate hikes, with investors turning their focus to corporate health as earnings season kicks off.
Overnight gains on Wall Street on Friday helped gains, with U.S. payrolls expanding more than expected even as wage increases slowed and eased worries about the Federal Reserve's future interest rate hike decisions.
Broader Asian equities also got a boost from China re-opening its borders on hopes that it could improve the outlook for the global economy. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.9% to a five-month high.
At home, IT major Tata Consultancy Services was 1% higher, ahead of its third-quarter results. The IT and metal indexes climbed more than 1% each in early trade.
Among other stocks, state-run electricity trader PTC India Ltd jumped 5% after a media report that the Adani Group was among possible bidders eyeing the acquisition of a stake in the company.
Overnight gains on Wall Street on Friday helped gains, with U.S. payrolls expanding more than expected even as wage increases slowed and eased worries about the Federal Reserve's future interest rate hike decisions.
Broader Asian equities also got a boost from China re-opening its borders on hopes that it could improve the outlook for the global economy. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.9% to a five-month high.
At home, IT major Tata Consultancy Services was 1% higher, ahead of its third-quarter results. The IT and metal indexes climbed more than 1% each in early trade.
Among other stocks, state-run electricity trader PTC India Ltd jumped 5% after a media report that the Adani Group was among possible bidders eyeing the acquisition of a stake in the company.
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Take a look at top BSE stocks in news as bulls return to D-St
Price as on 09 Jan, 2023 11:36 AM, Click on company names for their live prices.
Market live updates: Sensex rallies 900 pts, up 1.56%
ICICI Prudential Life Q3 business update
Rupee at 1-month high as U.S. data stokes smaller Fed hike hopes
The Indian rupee strengthened sharply on Monday, as the dollar index plunged after economic data released last week fanned hopes of the Federal Reserve slowing the pace of its interest rate hikes. The rupee was trading around a one-month high of 82.30 per dollar by 10:15 a.m. IST, as compared to its previous close of 82.72. "A break of 82.40-level was critical and if USD/INR stays below this, the pair could drop to 81.80-81.50 in the coming days", said Sajal Gupta, head forex and rates at Edelweiss Financial Securities.
CLSA has come out with a note on Tata Communications. The brokerage house has upgraded the stock to a 'Buy' from an 'Outperform' rating and has also hiked the target price of the stock by roughly 15%.
Price as on 09 Jan, 2023 10:49 AM, Click on company names for their live prices.
Ultracab (India) wins order worth Rs 22.88 crore from Tata Power
Price as on 09 Jan, 2023 10:41 AM, Click on company names for their live prices.
Larsen & Toubro says L&T Heavy Engineering wins multiple orders in Q3
Price as on 09 Jan, 2023 10:33 AM, Click on company names for their live prices.
Auto pack in the green; M&M, Tata Motors top performers
Price as on 09 Jan, 2023 10:32 AM, Click on company names for their live prices.
BULLS ROAR! SENSEX SURGES 750 POINTS
Tata Steel's India crude steel production stood at 5 million tonnes in third quarter, up 4% YoY. Deliveries rose 7% YoY to 4.73 million tonnes, aided by growth in domestic deliveries
Price as on 09 Jan, 2023 10:01 AM, Click on company names for their live prices.
The battle between Torrent and Hinduja Group for the acquisition of debt-ridden Reliance Capital may take a new turn as the lenders are considering running a second round of 'Challenge Mechanism' or e-auction for the bidders, sources said. The Committee of Creditors (CoC) will meet on Monday to decide on the second round of auction as it is expecting bids upwards of Rs 10,000 crore from this.
Price as on 09 Jan, 2023 10:00 AM, Click on company names for their live prices.
Sector Watch: Almost all the sectors open in the green, Nifty IT up 2%
Action in IT stocks! TechM top gainer; TCS gains 3% ahead of Q3 results
Price as on 09 Jan, 2023 09:44 AM, Click on company names for their live prices.
Gaining momentum! Nifty above 100-DMA
#MarketAlert | Nifty trades above 100 DMA #Nifty #StockMarket #StocksToWatch https://t.co/zCBN9C2XSj
— ET NOW (@ETNOWlive) 1673236627000JSW Steel Q3 Update: JSW Steel Group Crude Steel Production volume up at 6.24 million tonnes in Q3 FY2023, higher by 17% YoY
Titan Company reported 12% YoY growth in combined sales in third quarter, driven by festive season. All categories clock healthy double digit growths despite high base.
Price as on 09 Jan, 2023 09:26 AM, Click on company names for their live prices.
Paytm shares rise nearly 3% on Q3 business update
- Consumer engagement is at its highest on Paytm Super App with average monthly transacting users (MTU) at 85 million for the quarter ended December 2022, up 32% YoY
- With a focus on creating additional payment monetization beyond MDR, our focus on subscription services continues to expand. Number of merchants paying subscription for payment devices has reached 5.8 million as of December 2022, an addition of 1 million devices in the quarter ended December 2022
- Merchant payment volumes (GMV) for the quarter ended December 2022 at Rs 3.46 Lakh Cr ($42 billion), YoY growth of 38%
- Continued scale in our loan distribution business with disbursements of Rs 3,665 Cr ($443 million, YoY growth of 330%) and 3.7 million loans (YoY growth of 117%) disbursed during the month of December 2022
Top movers in opening trade
Price as on 09 Jan, 2023 09:23 AM, Click on company names for their live prices.
Best Agrolife unit gets licence for indigenous manufacturing of Propaquizafop Technical & Cyhalofop Butyl Technical
Price as on 09 Jan, 2023 09:22 AM, Click on company names for their live prices.
The US economic data released on Friday is significant from the global market perspective. All data point to a strong but cooling US economy which indicates the rising possibility of a soft landing for the US economy. The ISM Services data came at 49.6 against the previous figure of 56.5. The December jobs increase was 223000, the lowest in 2 years. The hourly wage increase slowed to 4.6% against the recent peak of 5.6%. All these point to cooling inflation and the possibility of the Fed going less hawkish in 2023. The market has already started discounting this with the dollar index declining below 104 and the US 10-year bond yield declining by 12bp. All signals are bullish.In India the major drag has been the sustained FII selling. This is the data to watch. If this too turns, Nifty can break out on the upside.
- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Opening Bell: Sensex jumps 300 points, Nifty above 17,950; IDBI Bank gains 4%, Tata Motors 2%
Pre-open session: Sensex rises 250 points; Nifty above 17,950
Asia shares rise on US rate bets, China reopening
Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China's borders bolstered the outlook for the global economy.MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.5% to a five-month top, with South Korean shares gaining 2.1%.
Quarterly earnings today
8 companies to release earnings for the quarter ended December. Tata Consultancy Services is among the major one.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 160 points, or 0.89 per cent, higher at 18,119, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty forms Inside Bar candle on weekly charts
After making lower highs for the last three sessions, Nifty formed a bearish candle and an Inside Bar on the weekly charts.
Wall Street rallies as jobs, services data calm rate hike worries
Wall Street's main indexes all gained more than 2% on Friday after December payrolls expanded more than expected even as wage increases slowed and services activity contracted, easing worries about the Federal Reserve's interest rate hiking path.
Oil nudges higher after China opens borders, lifts fuel demand outlook
Oil prices edged up on Monday, a day after travellers streamed into China following a reopening of borders that lifted the fuel demand outlook and partly offset concerns of global recession.
Rupee slips 4 paise to 82.66 against US dollar
The rupee pared initial gains and settled 4 paise lower at 82.66 against the US dollar on Friday, tracking a rebound in the greenback overseas and a muted trend in domestic equities
Sensex, Nifty on Friday
The Sensex declined 452 points, or 0.75%, to close at 59,900. The Nifty dropped 132 points, or 0.74%, to end at 17,859.
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