TCS, Infy, SBI lift Sensex 548 pts ahead of Fed outcome; Nifty tops 16,600

CLOSING BELL: Sun Pharma, Divis Lab, L&T, Asian Paints, SBI, TCS, Ultratech Cement, and Grasim led from the front, rising over 2 per cent each

10:09 AM

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> The Fed announcement on interest rates expected late tonight is unlikely to impact equity markets in a big way since the most likely outcome of 75 bp rate hike has been discounted by the markets. The market, which continues to be volatile, is swinging between fears of an imminent US recession on one side and hopes of the US avoiding a sharp economic slowdown on the other. Only time will tell which of the two scenarios will play out.

 

>> Early Q1 results indicate good performance by companies with leading banks, capital goods, paints and mid-cap IT delivering impressive numbers. Large-cap IT is facing the brunt of FII selling now on US recession fears impacting the prospects of IT majors. Clarity on where the US economy is moving will decide the valuation of IT stocks. Financials have responded to good Q1 results and reduced FII selling. But there is more room for the segment to move up since credit growth continues to be robust.

10:02 AM

Shoppers Stop surges 11%, hits 52-week high on healthy Q1 results

Returning mobility and higher ticket purchases led by the pent-up demand will likely drive retail spending over the coming months, the company said. READ MORE

9:54 AM

Profit-booking in Tata Power after strong Q1; stock down 2%

9:48 AM

Maruti Suzuki abuzz ahead of Q1 resutls

9:44 AM

United Spirits slips 3% after five-fold jump in net profit in Q1

9:35 AM

Asian Paints gain 1% after resilient Q1FY23 results

9:32 AM

Apollo Hospitals, Bajaj Finserv, Kotak Bank top Nifty50 losers

9:29 AM

L&T, Asian Paints, Power Grid top Nifty50 leaders

9:27 AM

Broader markets muted; India Vix climbs 2%

9:24 AM

FMCG, IT, realty stocks off to a positive start in trade

9:21 AM

Opening bell: 8 out of 30 Sensex counters open negatively

9:19 AM

Opening bell: Sensex surges 100 points

9:18 AM

Opening bell: Nifty50 opens flat above 16,500 levels

9:08 AM

Sensex moves flat at pre-open session

9:06 AM

Pre-open session: Nifty50 slips below 16,450 levels