MARKET: Sensex soars 800 pts ahead of RBI policy outcome; Nifty hits 17,400
Last Updated on January 30, 2023 by Admin
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Opening Bell
49 of the 50 Nifty constituents were trading in the green, led by ONGC (up 2.5 per cent), Infosys, Wipro, ICICI Bank, Reliance Industries, Indian Oil Corporation, and Bharti Airtel. The only loser was Divis Labs, down 0.15 per cent.
Individually, shares of Hindustan Zinc added 1.5 per cent after the Vedanta group company’s board has approved an interim dividend of Rs 18 per equity share for FY22, and the record date for the same is December 15.
Besides, JSPL also advanced 1.5 per cent after the company said that steel production in November 2021 increased by 10 per cent YoY to 6.74 lakh tones
Among sectors, all the key indices were trading with a positive momentum. The Nifty IT index was up 2 per cent while all others gained between 0.5 per cent and 1.4 per cent.
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Pre-open session
LIVE market updates:
Frontline indices extended Tuesday’s rally on Wednesday with modest gains in the pre-open session.
The BSE Sensex advanced over 400 points in the pre-market session, at 58,058 level. The Nifty50 was at 17,274, up 97 points.
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LIVE market updates: Benchmark indices look set to open higher ahead of the Reserve Bank of India’s monetary policy decision. At 8:15 AM, the SGX Nifty was at 17,326 compared with Nifty’s spot close of 17,177 on Tuesday.
That apart, positive news flow around market heavyweight Reliance Industries, along with firm global set-up may support the sentiment.
Primary market
Shriram Properties’ IPO will open for subscription today. The company plans to raise up to Rs 600 crore by way of public issue of equity shares in the price band of Rs 113 to Rs 118.
Global cues
The US stocks rallied for the second straight day on Tuesday as fears of Omicron continued to recede and investors bet on a Santa (December end) rally. Nasdaq zoomed 3 per cent led by frenzied buying in tech shares. The S&P 500 also surged 2 per cent and Dow Jones gained 1.4 per cent.
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