Sensex rises 320 pts, Nifty ends atop 18100; IT index up 2%, YES Bk down 8%

Closing Bell: Sectorally, Nifty IT clocked around a 2 per cent gain, followed by nearly 1 per cent upmove in bank, auto, FMCG and pharma indices. Metals and realty were the only pockets to close lower

9:17 AM

Opening Bell :: Sensex gains nearly 300 pts in early deals

9:10 AM

Commodity Check :: Gold, Silver rise in early deals

9:09 AM

Pre-Open Session :: Nifty tops 18,100 as 43 stocks advance on the 50-pack index

9:07 AM

Pre-Open Session :: Sensex gains over 250 pts

9:05 AM

Currency check :: Rupee hits 10-week high

>> INR opens at 80.94/$ vs Friday's close of 81.12/USD

9:02 AM

MARKET COMMENT: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Nifty’s 17800-18200 range has been holding for sometime now. To break the upper end of the range, the market needs positive triggers. Early Q3 results broadly have been positive with IT companies and banks delivering good results. This trend continues with the latest results from ICICI and Kotak Bank. Reliance, too, has delivered a decent set of numbers. Positive news from the Fed meeting outcome and the Union Budget on 1st February can break the upper band of the Nifty range and take the market higher. On the contrary, if the Fed message and the Budget deliver negative news, the lower end of the range can be broken. Sustained FII selling is a near-term negative. Investors may wait for and watch these crucial numbers.

8:58 AM

Mutual fund's SIP investors redeemed over Rs 40K crore in H2CY22

Mutual fund (MF) investors redeemed over Rs 40,000 crore from systematic investment plan (SIP) accounts in the last six months (second half, or H2) of Calendar 2022 (H2CY22). READ MORE

8:53 AM

Inflow in gold ETFs drops 90% in 2022; asset base, investors account grow

Inflow in gold exchange traded funds (ETFs) plunged by 90 per cent to Rs 459 crore in 2022 due to rising prices of yellow metal, increasing interest rate structure coupled with inflationary pressures. READ MORE

8:48 AM

Retailers shrug off winter chill to see double-digit growth in yr-end sales

Footfalls have also witnessed an increase at both malls and retail outlets. READ MORE

8:43 AM

Hero Electric looks to raise nearly Rs 2,000 crore to drive expansion

The company is not looking for mergers and acquisitions, but is open to having a strategic investor who can bring some technical expertise. READ MORE

8:38 AM

WATCH: What do HUL results tell us about India’s rural economy?

8:31 AM

Little to cheer for in Q3 early bird results; non-BFSI companies lag

The early bird results for Q3FY23 hint at a further slowdown in corporate earnings and revenue growth. 2.5% rise in profit the least in 10 quarters. READ MORE

8:27 AM

Realistic approach: Budget 2023 likely to steer clear of populist measures

Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. READ MORE

8:24 AM

WATCH :: How are markets placed ahead of the Budget 2023?

8:21 AM

Stocks to Watch: ICICI Bank, RIL, UltraTech, Adani Ent

Earnings Watch: Axis Bank, Canara Bank, Concor (Container Corporation of India), Gland Pharma, HFCL, IDBI, J&K Bank, Jindal Stainless, Maharashtra Seamless, Omax Autos, Route Mobile, Selan Exploration, Shoppers Stop, Syngene International, Tata Communications and Zensar Technologies.

 

ICICI Bank: The bank’s net profit surged 34.2 per cent to Rs 8,311.85 crore in Q3FY23 when compared with Rs 6,193.81 crore in the corresponding quarter a year ago. Total income was up 23.9 per cent YoY at Rs 33,529.26 crore. READ MORE