Going ahead, brokerages believe that the margin headwinds like travel costs, wage inflation will continue to persist in Q2FY23 as well.
More than the Fed's hike, it is the commentary that would impact market sentiment
CLOSING BELL: Among sectors, the Nifty Auto fell 1.7 per cent, while the Nifty Metal added 1.5 per cent
Stocks to watch today: Axis Bank, Tata Steel will report their June quarter 2022 results (Q1FY23) on Monday, July 25; Infosys delivered net profit for Q1 below street expectations at Rs 5,360 crore.
The rally in banking and finance stocks after some banks posted good quarterly results also helped sentiment
While analysts feel the fundamental backdrop has not drastically changed, a combination of domestic and global factors have lowered investors' apprehension.
CLOSING BELL: Ultratech Cement, Grasim, UPL, HDFC, HDFC Bank, Eicher Motors, and ICICI Bank were the top gainers, ralling over 2 per cent each
Infosys Q1 preview: Investors will closely monitor the management's commentary on clients' IT spending, demand environment amid macro stress, margin outlook, and growth guidance for FY23
CLOSING BELL: Among sectors, the Nifty PSB index rose 1.56 per cent, while the Nifty Pharma slipped 0.4 per cent
Sensex closes at highest level since June 6; Up 8% from CY22 lows
CLOSING BELL: ONGC, Tech M, Reliance Industries, TCS, HCL Tech, SBI, and Infosys were the top gainers, up between 2 per cent and 3.7 per cent
A recovery in the rupee also bolstered sentiment, traders said
CLOSING BELL: The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India
The recent sell-off had made some stocks attractive, hence traders bought IT, metals and telecom stocks, says an analyst
CLOSING BELL: The frontline indices climbed on the back of gains in Infosys, ICICI Bank, Kotak Bank, TCS, Axis Bank, L&T, SBI, and Reliance Industries
Better capital allocation and valuation make it a preferred choice amid a volatile environment
CLOSING BELL: Tata Consumer Products, Titan, Eicher Motors, HUL, Tata Motors, Maruti, M&M, Nestle India, HDFC, L&T, and BPCL topped the charts
Stocks to watch today: L&T Technology Services and Jindal Steel and Power will share June quarter 2022 (Q1FY23) results on Friday, July 15.
The 30-share BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15. During the day, it hit a high of 53,861.28 and a low of 53,163.77
Analysts expect 2Ws to reflect strong volumes in Q2FY23 amid strong pent-up demand, and improved mobility in June quarter 2022 (Q1FY23)