Sensex rises over 350 pts and Nifty50 tests 18,100 tests raised by Hdfc Twins, Reliance and Infosys | Techno Glob


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The Sensex and Nifty50 held on to their initial gains after an early gap, led by gains in financials, IT, oil & gas and healthcare stocks.

India’s equity benchmarks started Tuesday’s session higher with buying across most sectors, with financials, IT, oil & gas and healthcare stocks being the biggest risers. Dalal Street reflected positive moves in other Asian markets amid optimism about a moderation in the pace of COVID-era interest rate hikes, as investors awaited a decision on interest rates. Fed guiding interest this week.

Both major indexes were up three-quarters of a percent in the first few minutes of trading. The Sensex jumped 378.3 points to hit 61,124.9 at the highest level of the day so far, and the Nifty50 climbed as high as 18,130.7, up 118.5 points from at its previous close.

A total of 44 stocks in the Nifty50 basket started the day in the green. Reliance, ICICI Bank, Apollo Hospitals, Maruti Suzuki, PowerGrid, UPL, Eicher, Infosys, Mahindra & Mahindra and HCL Tech were the main winners.

The twins HDFC, Reliance, Infosys, ICICI Bank and TCS were the main contributors to the rise of the two main gauges.

Investors expected more financial results from India Inc for national indices. Sun Pharma, Adani Ports, Tech Mahindra, UPL and Nykaa will release their quarterly figures later today.

Shares of Bharti Airtel fell 1.3% to Rs 821.5 apiece on BSE, a day after the telecom giant’s 35% year-on-year jump in quarterly net profit fell short of Street estimates.
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Shares of Tata Steel fell 3.3% after the major steelmaker reported weak results, marred by soaring input costs and a slowdown in major economies where it operates.
The stock of major construction company Larsen & Toubro fell 1.7% to the weakest level of the session so far, even as analysts raised the company’s earnings estimates following its strong quarterly performance. On Monday, the company reported a 22.5% increase in net profit for the July-September period, in line with Street estimates.
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Shares of Bajaj Auto gave up their initial gains after the automaker reported a 10% drop in total monthly sales from the corresponding period a year ago.

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The overall market breadth was in favor of the bulls in early trades as 907 shares rose and 605 fell on BSE.

The Rupee rose slightly at the open at 82.73 against the US Dollar.

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Global Markets

Shares in other Asian markets jumped amid optimism as the pace of major central bank hikes moderated, ignoring a weak session on Wall Street as investors focused on policy review. fed this week. MSCI’s broadest index of Asia-Pacific stocks outside Japan rose 1.3% at the latest count.

Japan’s Nikkei 225 rose 0.2%, China’s Shanghai Composite 0.9% and Hong Kong’s Hang Seng 2.4%.

S&P 500 futures rose 0.3%, suggesting a higher start on Wall Street. On Monday, the S&P 500 fell 0.8%, the Dow Jones 0.4% and the Nasdaq Composite 1%.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.



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