Indian equity indices treaded higher led by banking and IT stocks. Infosys and TCS were the top gainers, along with Wipro, Tech Mahindra, HCL Tech, and UltraTech Cement. On the other hand, M&M, Asian Paints, Bharti Airtel, HUL, and Power Grid opened lower. According to experts, the resilience in IT stocks and strength in Reliance will consolidate Nifty around 21600 levels. The US CPI inflation rising to 3.4% may delay the expected rate cut by the Fed in March, along with the rate cut by the MPC.
The 30-share BSE Sensex pack surged 1,000 points to hit a lifetime high of 72,720.96, while the broader NSE Nifty index moved around 281 points to trade at an all-time peak of 21,928.25.
India s third-largest IT service provider HCL Tech reported a decent set of numbers as the consolidated net profit rose 13.5% sequentially to Rs 4,350 crore. The IT major s Board declared an interim dividend of Rs 12/share and fixed January 20 as the record date for the same. The payment date of the said interim dividend will be January 31.