Sensex ends 303 pts higher fueled by Infosys, ICICI Bank; Nifty near 17950
CLOSING BELL: Within sectors, barring consumer durables, PSB and Metal indices on the Nifty logged in most gains, up over 1 per cent each, followed by IT and financial pockets
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CLOSING BELL
Equity markets staged a firm turnaround intra-day to close Friday's session with nominal gains powered by select index heavyweights such as Infosys, ICICI Bank, TCS and HUL, which gained over 1 per cent each.
Gradual easing in domestic and US retail inflation also aided sentiment and helped narrow the gap-down start. The BSE Sensex recovered 633 points from the day's low and eventually ended 303 points higher at 60,261.
The NSE Nifty closed 98 points up at 17,957 level after bouncing back from the day's lowest level of 17,774.
The NSE Nifty closed 98 points up at 17,957 level after bouncing back from the day's lowest level of 17,774.
Other frontline stocks that supported the recovery included Tata Steel, IndusInd Bank, Ultratech Cement, Bajaj Finance, NTPC, Airtel, Adani Enterprises, Eicher Motors and BPCL, which gained 1-2 per cent.
On the flip side, top losers across the two benchmark indices included Titan, Nestle, ITC, L&T, Reliance and Apollo Hospitals.
The broader markets closed with slimmer gains. The BSE Midcap and Smallcap indices ended 0.09 and 0.2 per cent higher, respectively.
Within sectors, barring consumer durables, PSB and Metal indices on the Nifty logged in most gains, up over 1 per cent each, followed by IT and financial pockets.
Among stocks, HCL Tech firmly recovered the day's losses and ended with a 0.4 per cent gain. Check how analysts read its Q3 results.
L&T Technology Services slumped 5.3 per cent on its plan to buy the smart world & communications business (SWC) from its parent L&T.
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HDFC Bank Q3 PREVIEW: PAT may grow up to 20% YoY; margin, asset quality seen steady
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4:13 PM
TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas
The Nifty, in the week gone by, witnessed sharp swings in both the directions & ultimately posted a positive weekly close. It has formed a Doji pattern on the weekly chart. For the last few weeks, the index is trading above the 20 WMA, which has resulted in a Triangle pattern formation on the daily chart. After a recent base formation near the lower end of the pattern, the Nifty witnessed smart recovery on January 13. Going ahead, 18000-18050 will be the key area beyond which the index will be set for a larger up move. On the downside, 17800 will continue to provide cushion for the index.
4:08 PM
MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services
Easing inflation and brighter Q3 numbers projected by the second set of IT majors are outweighing the cautiousness of the market. CPI in India and US cooled off, thereby bolstering expectations of a less aggressive policy. Falling treasury yields and dollar index are raising investors’ sentiments.
4:00 PM
Over 1,900 stocks advanced while 1,486 declined
3:55 PM
Titan, SBI Life, Apollo Hospitals top Nifty50 laggards
3:49 PM
Adani Enterprises, IndusInd Bank, Eicher Motors top Nifty50 leaders
3:46 PM
Nifty Metal, Nifty PSU Bank indices best sectoral performers
3:42 PM
Broader markets mixed; India VIX slips over 5%
3:39 PM
SENSEX HEATMAP: 21 out of 30 index constituents close in green
3:36 PM
CLOSING BELL: Nifty50 ends above 17,950 levels, up nearly 100pts
3:34 PM
CLOSING BELL: Over 300pts up move for Sensex, closes above 60,200
3:23 PM
PSU Banks sizzle in trade, Canara Bank jumps 2%
3:10 PM
Broader markets mixed; India VIX slips over 4%
3:02 PM
Global Check:: US futures flat; UK gain up to 0.5%
Source: Investing.com
2:55 PM
Better bench strength: IT hirings seen at pre-Covid levels in FY24
So far the top three IT firms have announced their third quarter numbers and the dip in attrition rates and a higher bench strength seems to be signalling towards a normal year for hiring in FY24. READ MORE
2:47 PM
Titan Company slips 2% to hit over four-month low; down 14% from 52-wk high
Shares of Titan Company slipped 2 per cent to hit an over four-month low of Rs 2,401 on BSE in Friday’s intra-day trade as a sudden spike in gold prices raised concerns on demand for wedding jewellery going ahead into the March quarter (Q4FY23). READ MORE
Topics : Inflation MARKET WRAP Markets Q3 results Infosys HCL Technologies HCL Tech HCL Technologies Results Infosys result Wipro market sentiments Markets Sensex Nifty stock markets Global stock markets Indian stock market Indian stock markets stock market rally stock market trading Wall Street SGX Nifty S&P BSE Sensex BSE Sensex Nifty50 earning Nifty50 stock market investing corporate earnings MARKET LIVE
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First Published: Jan 13 2023 | 8:01 AM IST
