Upbeat global mood, IT stocks lift Sensex 847 pts up, Nifty ends at 18,101
CLOSING BELL: Broader markets also gained in tandem with the frontline indices. The BSE Midcap and Smallcap indices closed 0.9 per cent and 0.5 per cent up, respectively
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CLOSING BELL
STOCK MARKET HIGHLIGHTS
Equity markets snapped a three-day losing streak on Monday as upbeat economic data in the US lifted global stocks.
STOCK MARKET HIGHLIGHTS
Equity markets snapped a three-day losing streak on Monday as upbeat economic data in the US lifted global stocks.
After a dismal week, Monday saw benchmark indices closing 1.4 per cent higher as a contraction in US services and a slower wage rise signalled that the economy may be cooling off, prompting bullish bets from investors.
The BSE Sensex jumped 989 points to the day's high. It eventually settled 847 points higher at 60,747. The gains on the index were led by M&M, HCL Tech, TCS, IndusInd Bank, Bharti Airtel, Tech M, Infosys, Wipro, Reliance, Axis Bank and HUL, which rose 2-3.6 per cent.
The NSE Nifty ended at 18,101 with a gain of 242 points. Its additional winners included SBI Life, which gained 3 per cent. On the flip side, Titan, Bajaj Finserv, Maruti, Bajaj Auto, HDFC Life and Grasim were among the few losers.
Broader markets also gained in tandem with the frontline indices. The BSE Midcap and Smallcap indices closed 0.9 per cent and 0.5 per cent up, respectively.
Within sectors, Nifty IT gained the most, up 3 per cent, followed by oil & gas, metal, auto PSB indices that logged in over 1 per cent gains each.
Among buzzing stocks, Kalyan Jewellers ended 4 per cent higher after the company's consolidated revenue grew 13 per cent in the December quarter (Q3FY2023) as compared to the same period last year. Read story here
Shares of Vodafone Idea hit a 52-week low before closing 5 per cent lower on the BSE. According to a media report, the Department of Telecommunications (DoT) is now looking at the financials and the operations of the company to ascertain its health. Read more
BS SPECIAL: How to trade IT stocks ahead of Q3 results?
Shares of L&T Technology Services and Tech Mahindra could revive their positive bias since the second quarter of FY23 by consecutively closing higher. Read the full story here
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Topics : MARKET WRAP Markets Q3 results Tata Consultancy Services Markets Sensex Nifty Nifty50 S&P BSE Sensex Wall Street SGX Nifty Global Markets Paytm Asian Paints Bandhan Bank
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First Published: Jan 09 2023 | 7:57 AM IST
