Upbeat global mood, IT stocks lift Sensex 847 pts up, Nifty ends at 18,101

CLOSING BELL: Broader markets also gained in tandem with the frontline indices. The BSE Midcap and Smallcap indices closed 0.9 per cent and 0.5 per cent up, respectively

10:12 AM

ALERT :: Sensex at day's high, up over 700 pts

9:56 AM

VIEW: Recent US data makes case for Fed to slow its hawkish trajectory

The US economic data released on Friday is significant from the global market perspective. All data points 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 2,23,000, 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.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

9:47 AM

National Fertilizers up 2%; clocks highest ever sales in Apr-Dec

The company has clocked a growth of 27% in total fertilizer sale during April- December 2022 as compared to corresponding period last year. It reported total fertilizer sale of 49.71 lakh MT compared to 39.25 lakh MT last year. 

9:42 AM

Tata Steel gains 2%; domestic output rises 4% YoY in Q3

India business production up 4.2% at 5 million tonne and delivery volumes down 3.6% at 4.73 million tonne, QoQ. Europe business production down 6.25% at 2.25 million tonne and Europe business Delivery volumes up 4.8% at 1.96 million tonne, QoQ. 

9:39 AM

Heritage Foods up 1%; board to meet on January 13 to approve final rights issue offer letter

9:37 AM

Titan sheds 2% despite 12% YoY sales growth in Q3

Total sales climbed by around 12% year-on-year during the third quarter of fiscal year 2022-23. Last quarter company added a total of 111 new retail outlets and jewellery business grew 11%.

9:34 AM

MARKET CHECK: Sensex sees sharp surge; gains 500 pts

9:33 AM

IDBI Bank up over 2% as govt receives 5 EoIs for lender's stake sale

The Department of Investment and Public Asset Management (DIPAM) has received at least five expressions of interest (EoIs) for the proposed 61 per cent stake and transfer of management control in IDBI Bank. 

9:31 AM

IT stocks in demand; TCS rises 2% ahead of Q3 results

9:29 AM

IT, Metal, Pharma pockets top sectoral winners; cons durables weaken

9:27 AM

Strong gains in broader market; Mid-and-small-caps outperform

9:27 AM

CG Power, General Insurance lead gains on midcap index

9:25 AM

Eicher Motors, Britannia among few losers on Nifty

9:24 AM

Tech M, Hindalco, Tata Steel, UPL top Nifty winners

9:21 AM

Titan, ICICI Bank sole losers on Sensex, drop up to 1%