Share Market Updates: Sensex, Nifty Resume Upmove After A Day's Breather Led By Infosys ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.
How are the bluechips doing?
After opening in the green, benchmark indices moved further higher. At 1 pm, BSE flagship Sensex was up 437 points or 0.81 per cent to 54,261. NSE benchmark Nifty advanced 98 points or 0.60 per cent to 16,227
“Nifty finally hit an all-time high of 16,146 after consolidating for 62 days. As per F&O data, short covering rally can trigger the momentum towards 16,389-16,418 zone. The risk to this breakout is negative divergence on Relative Strength Indicator (RSI) on weekly charts, which cannot be overlooked,” said Brijesh Bhatia ,Senior Research Analyst Equitymaster.
In the 50-share pack Nifty, Tata Steel was the biggest gainer, up 2.23 per cent. HDFC, Shree Cement, Coal India, ICICI Bank, Adani Ports, JSW Steel and Dr Reddy’s Labs were among other gainers.
sensex: Sensex surges 546 pts but investors poorer by Rs 50,000 cr; bank stocks rally indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Q1FY22 earnings: Input costs, low sales crimp India Inc’s profits
The aggregate results were boosted by strong numbers from producers of metals. Vedanta’s consolidated ebitda increased 9% q-o-q led by sharp sequential volume growth, a recovery in prices.
Analysts seem to have got ahead of themselves going by the string of disappointments in the June quarter earning season. From Biocon, Maruti Suzuki, Nestle, Dr.Reddy’s Labs and TVS Motors to a host of smaller companies like Crompton Greaves and Rallis, results for Q1FY22 have barely met the Street’s expectations. However, producers of metals like JSW Steel have seen their profits soar while IT players have done reasonably well. Larsen & Toubro reported a good set of numbers with the engineering behemoth seeing an uptick in ordering prospects. The company, analysts say, is well-positioned to make up for a weak start as the ordering prospects pipeline at the end of June.
Share Market LIVE Updates: Sensex Holds 350-Point Lead, Nifty Above 15,850 Led By RIL, Infosys ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.