Sensex Rises Over 100 Points, Nifty Trades Above 18,250; PowerGrid, Tata Steel Among Top Gainers
New Delhi: The Indian equity benchmarks on Thursday traded higher in opening deals led by gains in information technology and metal stocks. Asian shares were mixed, while the dollar slipped as global investors assessed that strong U.S. inflation data was not worrying enough to change the Federal Reserve’s already hawkish rates outlook. The U.S. consumer price index rose 7 per cent in the 12 months through December, the biggest annual increase in nearly 40 years.
Back home, as of 9:20 am, the 30-share BSE Sensex pack was up 106 points or 0.17 per cent at 61,256 and the broader NSE Nifty moved 40 points or 0.22 per cent higher to 18,252.
Mid- and small-cap shares were slightly positive as Nifty Midcap 100 index was up 0.10 per cent and small-cap shares were trading 0.11 per cent higher.
On the stock-specific front, PowerGrid was the top Nifty gainer as the stock soared 2.34 per cent to Rs 209.75. Tata Steel, Infosys, Tata Consultancy Services and Coal India were also among the gainers.
TCS’ net profit during the third quarter of the current financial year rose to Rs 9,769 crore, which is 12.3 per cent higher than Rs 8,701 crore recorded in the corresponding period of 2020-21. The company’s Board also recommended a buyback of shares to the tune of Rs 18,000 crore at Rs 4,500 apiece.
Infosys registered a near 12 per cent rise in its December quarter net profit to Rs 5,809 crore.
On the flipside, Wipro, HDFC Bank, Shree Cement, Tata Motors and Titan were among the losers.
Wipro shares tanked as much as 4.82 per cent as the IT firm posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, almost flat compared to the year-ago period.
The overall market breadth was positive as 1,637 shares were advancing while 1,099 were declining on BSE.
On the 30-share BSE platform, PowerGrid, Tata Steel, Infosys, TCS, Sun Pharma and NTPC attracted the most gains with their shares rising as much as 2.49 per cent in early trade.
Wipro, HDFC Bank, IndusInd Bank, Axis Bank, Mahindra & Mahindra, Titan and Kotak Mahindra Bank were among the losers.
Meanwhile, the 30-share BSE Sensex had jumped 533 points or 0.88 per cent to close at 61,150 on Wednesday, while the broader NSE Nifty had settled 157 points or 0.87 per cent higher at 18,212.