SSPL WEALTH PVT LTD

Mid - Session

Market behaviours during the course of the trading session.

Sensex moves above 61,000; breadth strong

14-Oct-21 09:25 Hrs IST

Key indices are trading on a firm note after seeing gap-up opening. At 9:26 IST, the barometer index, the S&P BSE Sensex, was up 353.62 points or 0.58% at 61,090.16. The Nifty 50 index rose 106.45 points or 0.59% to 18,268.25. Shares of Wipro and Mindtree advanced after declaring Q2 results.

In the broader market, the S&P BSE Mid-Cap index rose 0.54% while the S&P BSE Small-Cap index gained 0.5%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1665 shares rose and 843 shares fell. A total of 122 shares were unchanged.

Results Today:

HCL Technologies (up 1.28%), Cyient (down 1.5%), Den Networks (down 1.51%), Indiabulls Real Estate (down 0.85%), Inox Wind (up 1.29%) and Mahindra CIE Automotive (up 1.71%) will announce their quarterly results today.

Stocks in Spotlight:

Infosys rose 2.57%. The IT company's consolidated net profit rose 4.4% to Rs 5,421 crore on 6.1% increase in revenues to Rs 29,602 crore in Q2 FY22 over Q1 FY22. Infosys said its revenue guidance for FY22 is revised upwards to 16.5%-17.5%. Margin guidance is retained at 22%-24%.

Wipro jumped 6.4%. The company reported a 9.6% fall in consolidated net profit to Rs 2,930.7 crore in Q2 FY22 from Rs 3,242.6 crore in Q1 FY22. Revenue from operations increased by 7.8% QoQ to Rs 19,667.4 crore during the quarter.

Mindtree jumped 6.27% after the company's consolidated net profit rose 16.2% to Rs 398.90 crore on 12.9% increase in revenue to Rs 2586.20 crore in Q2 FY22 over Q1 FY22.

Global Markets:

Asian markets were mostly trading higher as investors reacted to the release of China's inflation data for September. Markets in Hong Kong are closed on Thursday for a holiday.

Producer inflation surged in September, official data showed Thursday. The producer price index for September soared 10.7% as compared with a year ago. China's consumer price index also rose 0.7% in September as compared with a year ago.

Singapore's central bank unexpectedly tightened monetary policy on Thursday. Official advance estimates also showed Thursday that Singapore's economy grew 6.5% year-on-year in the third quarter of 2021.

In US, the S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market.

Minutes released Wednesday afternoon from the Federal Open Market Committee's September meeting showed the central bank could begin tapering its asset-purchase program as soon as mid-November.

Consumer prices rose 0.4% last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years. The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday, up slightly from August's gain of 5.3%. Excluding the volatile food and energy categories, core inflation rose 0.2% in September and 4% compared with a year ago. Core prices hit a three-decade high of 4.5% in June.