Current Market Update
In Focus: Howard Marks
In Focus: Tata Elxsi
Markets At 10:15 A.M.
- Benchmark indices hold on to gains; face some pressure at higher levels
- Nifty up 0.4% at 14,623
- Sensex up 0.35% at 49,691
- Nifty Bank up 0.8% at 32,601
- Nifty Midcap index up 0.6%
- Nifty Smallcap index up 0.6%
- India Volatility Index up 1.9% to 23.3
- Nifty PSU Bank index is the top sectoral gainer; up 2.2%
- Nifty Media index gains 1.2%
- Nifty Auto, Nifty Metal index up 0.7% each while Nifty Realty up 0.6%
- Bharti Airtel is the top Nifty gainer; up 4.5%
- Shree Cement is the top Nifty laggard; down 1.1%
- 1,085 stocks on the NSE trade with gains while 689 stocks decline
In Focus: Divi’s Laboratories
Indian equities opened higher for the fourth straight day, notching up another round of record highs in the process.
The S&P BSE Sensex opened 0.5% higher at 49,763. The index is now just 250 points away from scaling the mark of 50,000. The NSE Nifty 50 index too has opened 0.5% higher at 14,639.
All sectoral indices have opened higher in today’s session. The Media index has opened with gains of 1% while the PSU Bank index is up 1.1%. The Nifty Bank index has opened at a record high of 32,547, gaining 0.6% or over 200 points.
Other indices like Nifty FMCG and I.T. gained 0.4% each while the Metal index rose 0.8% at the start of trade.
Broader markets have opened in-line with benchmark indices. The Midcap index is up 0.6% while the Smallcap index has risen 0.5% in the early minutes of trade.
1,241 stocks on the NSE have opened with gains while 348 are declining.
Another Day Of Records?
Indian equities scaled another record high on Tuesday, aided by financial and realty stocks.
The S&P BSE Sensex is now only 483 points away from hitting 50,000. The index will not only have doubled from its March 2020 lows, but also from when it first hit the mark of 25,000 in June 2014.
Futures are indicating a positive start to today’s trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.3% to 14,638 as of 7:55 a.m. on Wednesday.
Nifty 50 companies Infosys and Wipro will report earnings for the quarter ended December after market hours. Tata Elxsi may react to its financials reported after closing on Tuesday. Non-Nifty 50 stocks such as CESC, 5Paisa Capital and GTPL Hathway will also report results today.
Asian markets are mixed in mid-week trade, even as the U.S. dollar continues to weaken. Benchmarks in Japan and Australia fell, while those in South Korea, China and Hong Kong saw gains.
Futures on the Dow Jones are trading 40 points higher. The index ended little changed on Tuesday.
Oil prices trade near an 11-month high. West Texas Intermediate crude rose 0.8% to $53.63 per barrel, while gold rose 0.3% to $1,860/Oz.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.