MARKET: Sensex up 250 pts, Nifty atop 17,950; Airtel rises 2.5%, eClerx 11%
Last Updated on January 9, 2023 by Admin
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Opening Bell
In early deals, the BSE barometer of 30 shares was at 60,316 levels, up 287 points, while the Nifty50 quoted at 17,965, up 76 points.
Bharti Airtel was the top gainer in the Sensex pack, up 2.5 per cent, after the telecom major beat market estimates, aided by improved operational performance and exceptional income to report a consolidated net of Rs 1,134 crore for the September quarter.
Besides, Tech M, UltraTech Cement, L&T, NTPC, Tata Steel, and SBI were the other top gainers on the index. On the downside, Titan, Sun Pharma, HDFC Bank, and HUL were the top laggards.
The broader markets, meanwhile, performed in-line with the benchmark indices. The BSE MidCap index added 0.43 per cent and the BSE SmallCap index climbed 0.33 per cent.
Sectorally, only media and pharma indices were in the red, down up to 0.14 per cent. On the upside, the Nifty Realty, PSU Bank, and IT indices were up 0.6 per cent each.
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Pre-open session (Updated at 9:07 AM)
LIVE market updates: Ahead of the US Federal Reserve’s policy outcome due later today, and an extended weekend, markets are eyeing a fairly positive start.
The BSE Sensex is up 208 points at 60,237.5 in pre-opening session. The Nifty50, on the other hand, was at 17,940, up 51 points at 9:06 AM.
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(Updated at 8:20 AM)
LIVE market updates: Trading activity may be light on Wednesday given the long-holiday break and anxiousness ahead of the US Federal meeting outcome later tonight. At 8:10 AM, SGX Nifty was up 36 points at 17,956 levels.
Corporate Earnings to Watch
Eicher Motors, Pfizer, State Bank of India (SBI), Aditya Birla Fashion & Retail, Bata India, Centrum Capital, DCM Shriram Industries, GPT Infraprojects, GSPL, Gujarat Alkalies, Precision Wires and Sharon Biotech are some of the companies slated to announce their SEptember quarter results today.
According to analysts, SBI’s Q2 profit may nearly double on a yearly basis to Rs 9,263.3 crore on the back of healthy net interest margin, recovery from DHFL, and lower loan provisioning. READ MORE
Primary Market action
Global cues
This morning in Asia, the S&P/ASX 200 had rallied 1.4 per cent, and Taiwan Weighted index had advanced 0.4 per cent. Kospi, however, had slipped 0.4 per cent, while Hang Seng and Shanghai Composite were down 0.1 per cent each.
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