Indices advance in early trade; breadth strong
Published on Jan 07, 2022 09:35
The domestic equities rallied in early trade, buoyed by bank and oil & gas stocks. The Nifty hovered above 17,850 mark.
At 9:30 IST, the barometer index, the S&P BSE Sensex, jumped 393 points or 0.66% at 59,994.84. The Nifty 50 index gained 122.85 points or 0.69% at 17,868.75.
In the broader market, the S&P BSE Mid-Cap index rose 0.50% while the S&P BSE Small-Cap index added 0.59%.
The market breadth was strong. On the BSE, 2,213 shares rose and 584 shares fell. A total of 122 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,926.77 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 800.91 crore in the Indian equity market on 6 January 2022, provisional data showed.
Stocks in Spotlight:
Reliance Industries (RIL) rose 1.09%. Dunzo, India`s leading quick commerce player, has raised $240 million in its latest round of funding. The investment was led by Reliance Retail Ventures (RRVL), with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. With an investment of $200 million, Reliance Retail will own 25.8% stake on a fully diluted basis. RRVL is a subsidiary of RIL and holding company of all the retail companies under the RIL Group.
HCL Technologies gained 0.05%. The firm has completed acquisition of 51% stake in German IT Consulting Company, Gesellschaft f�r Banksysteme GmbH (GBS).
Titan Company advanced 2.57%. The company witnessed strong demand across its consumer businesses and clocked 36% growth over the festive quarter last year.
Anand Rathi Wealth added 0.73%. The total revenue for 3 months October-December 2021 was Rs 108.66 crore, recording a growth of 55% Y-o-Y (year-on-year). The profit after tax (PAT) for 3 months October-December 2021 stood at Rs 32.04 crore, registering a rise of 144% Y-o-Y.
Macrotech Developers rose 1.90%. The realty firm reported a 40% rise in pre-sales to Rs 2,608 crore during the quarter ended December.
Asian stocks are trading higher on Friday following heavy losses for some regional markets in the previous trading day, as investors continue to assess the impact of a potentially faster-than-expected policy tightening by the U.S. Federal Reserve.
US stocks fell on Thursday to end a day of choppy trading, following the massive tech sell-off in the previous session. The Dow Jones Industrial Average fell 170.64 points, or 0.47%, to 36,236.47, the S&P 500 lost 4.53 points, or 0.10%, to 4,696.05 and the Nasdaq Composite dropped 19.31 points, or 0.13%, to 15,080.87.
Powered by Capital Market - Live News