Macro data, Q3 results keep up impetus on bourses
Sensex, Nifty gain for 5th consecutive session; as investors digest Q3 results, macro data
image for illustrative purpose
Choppy Session On Inflation Concerns
- BSE Sensex ended 85.26 pts higher at 61,235.30
- NSE Nifty advanced 45.45 pts to 18,257.80
- Shanghai, Tokyo and Seoul ended with losses
- Hong Kong closed in the green
- European indices negative in mid-session
Mumbai: Equity indices ticked higher for the fifth session on the trot on Thursday as largely positive Q3 results from IT majors enthused investors, though lacklustre macroeconomic data capped the gains. After a choppy session, the 30-share BSE Sensex ended 85.26 points or 0.14 per cent higher at 61,235.30. Similarly, the NSE Nifty advanced 45.45 points or 0.25 per cent to 18,257.80.
Tata Steel was the top gainer in the Sensex pack, jumping 6.40 per cent, followed by Sun Pharma, L&T, M&M, PowerGrid and Bajaj Finserv. TCS rose 1.05 per cent, a day after the country's largest software exporter reported a 12.2 per cent jump in December quarter net profit at Rs 9,769 crore on handsome revenue growth, and guided towards maintaining the same momentum going forward. Similarly, Infosys closed 1.03 per cent higher following a nearly 12 per cent rise in Q3 net profit to Rs 5,809 crore. In contrast, Wipro was the biggest loser among the Sensex constituents, tumbling 6 per cent, as its flat Q3 profit of Rs 2,969 crore failed to cheer investors. Asian Paints, HDFC Bank, IndusInd Bank, Kotak Bank and HCL Tech were among the other laggards, slipping up to 2.47 per cent.
"Indian markets opened flat to marginally positive despite negative Asian market peers after higher inflation reading from the US and China's bank lending declined more than expected in December. During the afternoon session markets managed to trade in green albeit, with a narrow range," said Narendra Solanki, head (equity research-fundamental), Anand Rathi Shares & Stock Brokers.
