The Indian market ended marginally higher on Monday amid mixed global cues. Sensex closed 85 points higher at 61,308 and Nifty gained 52 points to 18,308.
Here’s a look at the updates of the market action on BSE and NSE today.
10:00 am: Sensex down over 140 points
The benchmark indices were trading lower in the early trade today. Sensex declined 144 points to 61,164.69 and Nifty was trading 44 points lower at 18,263.
9:45 am: HFCL shares tank 9%
Shares of HFCL Limited tanked 8.6 per cent to hit an intraday low of Rs 88.10 on the Bombay Stock Exchange (BSE) after the company announced its earnings for the quarter ended December 2021.
The domestic telecom gear maker posted 4.7 per cent decline in consolidated profit to Rs 81.1 crore for the third quarter ended December 31, 2021 mainly on account of hike in component prices, specially semiconductors.
The company had posted a profit after tax of Rs 85.11 crore in the same period a year ago. Revenue declined 4.86 per cent during the quarter to Rs 1,215.21 crore compared to Rs 1,277.48 crore it posted in the same quarter of 2020-21.
9:18 am: Market opening
Indian benchmark indices opened higher amid positive global cues. At 09:18 hours, the 30-share BSE index was trading 104 points higher at 61,413.6, and the broader NSE Nifty was up 37.5 points to 18,345.60.
Tech Mahindra was the top gainer in the Sensex pack, advancing over 1 per cent, followed by Titan, Bajaj Finance, TCS, Bajaj Finserv and Axis Bank.
Ultratech Cement and Maruti Suzuki were among the top Sensex losers.
9:10 am: Market at Pre-open
The benchmark indices were trading higher in the pre-open session. Sensex was trading 121.8 points higher at 61,430.77 and Nifty was up 29 points at 18,337.20.
8:55 am: Pre-market comment by Mohit Nigam, Head – PMS, Hem Securities
Benchmark Indices are expected to open flat as trends on SGX Nifty with a loss of 4 points indicate a cautious opening. Driven by positive global cues and buying interest in some Auto & Metal stocks, the market closed at three months high amid volatility on Monday, forming a bullish candle on the daily charts.
Asia-Pacific markets were trading mostly higher on Tuesday while US markets remained shut for a public holiday of Martin Luther King Jr Day.
Global investors remained their attention on the prospect of US Interest rate hikes in the next few months. The market might be volatile as Bajaj Finance, L&T Technology Services, ICICI Securities, Den Networks, EKI Energy Services, Just Dial, Jyoti Structures, Network18 Media & Investments, Shakti Pumps (India), TV18 Broadcast and some others will release quarterly earnings on January 18.
On the technical front, the key resistance levels for Nifty50 are 18,340 followed by 18,380 and on the downside 18,250 followed by 18,190 can act as strong support. Key resistance and support levels for Bank Nifty are 38,500 and 38,140 respectively.