Sensex up 651 pts, Nifty regains 18K-level ahead of Q3 results

Mumbai, January 10

The Sensex shot up over 650 points to surge past the 60,000-level while the Nifty settled above 18,000 on Monday as participants showed keen interest in IT and financial shares ahead of the Q3 earnings season.

Rising for the second straight session, the BSE benchmark hit the day’s high of 60,427.36, before ending at 60,395.63, higher by 650.98 points. Likewise, the Nifty climbed 190.60 points to settle at 18,003.30.

On the Sensex chart, Titan, Maruti, SBI, L&T, SBI, HDFC and Kotak Bank emerged as prominent gainers, advancing as much as 3.29%.

In contrast, Wipro, Nestle India, Asian Paints and PowerGrid were among the major laggards, shedding up to 2.47%. Market breadth was positive, with 20 of the 30 Sensex counters posting gains.

Analysts said the Q3 corporate results announcements starting this week from the IT majors and HDFC Bank are likely to set the trend for the crucial tech and banking segments.

“Amid weak global markets and rising Covid cases, the domestic market displayed strong momentum on expectations of a healthy start to the earnings season. PSU Banks led the sectoral rally as reports suggested an increase in FPI limits while the realty sector followed the trend on robust sales numbers and expectations of support measures in the upcoming Budget.

“Globally, bourses were muted as reports of record-high Eurozone inflation at 5% kept investors on edge while awaiting the release of the US inflation data later this week which is expected to remain elevated,” said Vinod Nair, Head of Research at Geojit Financial Services. — PTI

Surges past 60,000-mark

• Rising for the second straight session, the Sensex hit the day’s high of 60,427.36, before ending at 60,395.63, higher by 650.98 points. The Nifty climbed 190.60 points to settle at 18,003.30
• On the Sensex chart, Titan, Maruti, SBI, L&T, SBI, HDFC and Kotak Bank emerged as prominent gainers, advancing as much as 3.29%