The key equity indices edged higher in early trade, amid some decent buying in index pivotals. The Nifty traded above the 16,050 mark. Banks, financials and IT shares advanced while FMCG and oil & gas stocks lagged behind.
At 09:25 IST, the barometer index, the S&P BSE Sensex, was up 216.32 points or 0.40% to 53,965.58. The Nifty 50 index added 57.95 points or 0.36% to 16,083.75.
Nestle India (up 1.33%), Wipro (up 1.20%), HDFC Bank (up 1.20%), Tech Mahindra (up 1.15%) and Hindalco (up 1.12%) were the top Nifty gainers.
Meanwhile, BPCL (down 2.21%), ONGC (down 2.13%), UPL (down 1.57%), Shree Cement (down 1.15%) and Asian Paints (down 1.12%) declined.
In the broader market, the S&P BSE Mid-Cap index rose 0.38% while the S&P BSE Small-Cap index gained 0.08%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,282 shares rose and 990 shares fell. A total of 108 shares were unchanged.
Stocks in Spotlight:
Coal India rose 0.33%. The company's consolidated net profit rose to Rs 6715 crore in Q4 March 2022 from Rs 4588.96 crore in Q4 March 2021. Total income rose to Rs 34495.71 crore from Rs 27924.57 crore.
Power Finance Corporation shed 0.05%. The company's consolidated net profit rose to Rs 4295.90 crore in Q4 March 2022 from Rs 3906.05 crore in Q4 March 2021. Total income rose to Rs 18873.55 crore from Rs 18155.14 crore.
MOIL advanced 0.25%. The company's net profit rose to Rs 131.07 crore in Q4 March 2022 from Rs 116.03 crore in Q4 March 2021. Total income fell to Rs 476.07 crore from Rs 481.56 crore.
Infosys gained 0.83%. Infosys and Palo Alto Networks, the global cybersecurity leader, announced a 360 degree collaboration to elevate the security-maturity of large enterprises with mission-critical digital landscapes and to help prevent the threat of cyberattacks on their critical infrastructure.
Global markets:
Asian stocks traded mixed on Thursday after U.S. Federal Reserve meeting minutes showed officials stressing the need to raise interest rates swiftly and potentially more than markets anticipated.
US stocks closed Wednesday's volatile session higher after Federal Reserve meeting minutes indicated the central bank will stay on track for aggressive interest rate hikes and then take some time to gauge the economy's response.
U.S. Fed minutes released Wednesday showed officials are prepared to move ahead with several 50 basis point interest rate hikes. The Federal Open Market Committee also said policy may have to move away from neutral and into restrictive territory.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
