MARKET LIVE: Sensex scales 61K, Nifty nears 18,300; MindTree up 6% pre-open

Pre-open Session:

LIVE market updates: The BSE Sensex scaled to 61,600-odd levels in pre-open trades, and then was quoted 243 points higher at 60,979. The NSE Nifty 50 was up 107 points at 18,269.

IT earnings reaction in pre-open: Infosys was up 0.4 per cent at Rs 1,715. Wipro up 1.1 per cent at Rs 680 and MindTree up 5.9 per cent at Rs 4,620.

Nestle India, Tata Steel, ONGC and PowerGrid Corporation were the top gainers in pre-open trades.

______________________________________________________________________________________________







(Updated at 08:10 AM)

LIVE market updates: The benchmark BSE Sensex could claim 61,000-mark while the Nifty may vault past 18,200 levels on the bourses on Thursday, buoyed by robust guidance by IT majors Infosys and Wipro.

Besides, firm global cues, steady oil prices, and receding Covid-19 cases back home will support sentiment. That said, some volatility on account of weekly F&O expiry and WPI-inflation data cannot be ruled out.

Earnings today

A total of 21 companies, including HCL Technologies, Cyient, and Den Networks are scheduled to announce their results today.

Analysts expect double-digit revenue growth for HCL Tech between 12 to 13 per cent for Q2FY22 on a Year-on-Year basis. The strong recovery, they say, will be led by the ramp-up of large deals won in the earlier quarters.

Global cues

The S&P 500 gained 0.30 per cent, the Nasdaq Composite added 0.73 per cent and Dow Jones ended flat.

In Asia, Japan’s Topix index climbed 0.3 per cent, South Korea’s Kospi added 1.3 per cent and China’s Shanghai Composite Index was steady. S&P futures were up 0.3 per cent.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor