PowerGrid and Tata Steel are among the top gainers as the Sensex rises over 100 points and the Nifty trades beyond 18,250.
The Indian equity indices opened higher on Thursday, with gains in information technology and metal sectors leading the way.
New Delhi, India: The Indian equity indices opened higher on Thursday, with gains in information technology and metal sectors leading the way. As global markets evaluated that robust U.S. inflation data was not alarming enough to affect the Federal Reserve's already hawkish rate view, Asian stocks were divided, while the dollar fell. The consumer price index in the United States increased by 7% in the year ending in December, the largest yearly gain in over 40 years.
Back at home, the 30-share BSE Sensex was up 106 points, or 0.17 percent, at 61,256 at 9:20 a.m., while the wider NSE Nifty was up 40 points, or 0.22 percent, at 18,252.
Mid- and small-cap stocks were marginally higher, with the Nifty Midcap 100 index up 0.10 percent and small-cap stocks up 0.11 percent.
On a stock-by-stock basis, PowerGrid was the highest Nifty gainer, jumping 2.34 percent to 209.75. Among the winners were Tata Steel, Infosys, Tata Consultancy Services, and Coal India.
TCS' net profit increased by 12.3% to 9,769 crores in the third quarter of this fiscal year, compared to 8,701 crores in the same time as the previous fiscal year. The company's board has approved a share buyback worth Rs 18,000 crore at Rs 4,500 per share.
The December quarter net profit of Infosys increased by nearly 12% to 5,809 crores.
Wipro, HDFC Bank, Shree Cement, Tata Motors, and Titan, on the other hand, were among the losers.
Wipro's stock dropped 4.82 percent as the IT giant reported a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, roughly unchanged from the previous quarter.
On the BSE, the overall market breadth was positive, with 1,637 shares gaining and 1,099 decreasing.
PowerGrid, Tata Steel, Infosys, TCS, Sun Pharma, and NTPC saw the highest increases on the 30-share BSE platform, with their shares increasing as much as 2.49 percent in early trade.
Among the losers were Wipro, HDFC Bank, IndusInd Bank, Axis Bank, Mahindra & Mahindra, Titan, and Kotak Mahindra Bank.
Meanwhile, on Wednesday, the 30-share BSE Sensex rose 533 points, or 0.88 percent, to end at 61,150, while the wider NSE Nifty rose 157 points, or 0.87 percent, to 18,212.
Comments