Benchmark equity indices started Friday’s trading session on a robust note with IT shares leading the way.
Sensex Today: Benchmark equity indices started Friday’s trading session on a robust note with IT shares leading the way.
The S&P BSE Sensex opened 427 points higher at 72,148, and was seen quoting around 72,050 levels – up 300 points. The NSE Nifty 50 was seen hovering around the 21,750 levels – up 100 points.
Read More: Stocks To watch: TCS, Infosys, Polycab, LIC, Tata Power, UltraTech Cement, M&M, Container Corp
Infosys and TCS were the top gainers, post Q3 results, among the Sensex 30 pack – up 5 per cent and 3 per cent, respectively. Wipro, Tech Mahidnra and HCL Technologies were also up 1-2 per cent each.
On the flip side, Hindustan Unilever slipped 1 per cent. Nestle, Mahindra & Mahindra and Reliance were the other notable losers.
Infosys and TCS Q3 numbers reflected a slowdown in global markets. The former cut its revenue growth guidance for the third straight quarter, after reporting a 7.3 per cent dip in Q3 net profit. The Tata Group IT firm reported a 2 per cent rise in net profit. Read More
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In the broader market, the BSE MidCap index gained 0.3 per cent, while the SmallCap added 0.5 per cent.
“With inline results from Infosys and better-than-expected results from TCS, IT stocks will see some action today. Resilience in IT stocks and strength in Reliance will enable Nifty to consolidate around 21600 levels. HDFC Bank results on January 16th will be keenly watched by the market for cues in the direction of Bank Nifty,” said Dr VK Vijaykumar of Geojit Financial.
Global Cues
Elsewhere in Asia, Japan’s Nikkei rose another 1 per cent this morning, and now quoted near 35,500 levels – its highest since 1990. Among others, Hang Seng and Shanghai gained up to 0.5 per cent, while Straits Times, Taiwan and Kospi slipped up to 0.5 per cent.
Overnight, the US market recouped significant losses to end the day on flat note after hotter-than-expected inflation numbers. The US headline CPI rose 0.3 per cent in December, for an annual gain of 3.4 per cent. That was expected to be 0.2 per cent and 3.2 per cent, respectively.
