Stock markets open positive: Sensex soars over 400 points, Nifty above 17,200
/Representational image | ANI Photo
The stock market indices opened on a buoyant note on January 28. Sensex is up 427.18 points or 0.75 percent at 57704.12, and the Nifty jumped 133.10 points or 0.78 percent at 17243.30.
The winning stocks include Bharti Airtel (+3.82 percent), Tata Steel (+2.82 percent), IndusInd Bank (+1.76 percent), M&M (+1.63 percent) and Bajaj Finance (+1.63 percent) were among early gainers.
Stocks to watch out today
Among the earnings to watch today will be AU small finance bank, Dixon Technologies, Happiest Minds, L&T, Kotak Mahindra Bank, said Nigam.
Asian stocks recover
Asian stocks Friday recovered some of the losses sparked by the Federal Reserve’s pivot to tighter monetary policy.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent after sliding 2.26 percent on Thursday. The index is still down 5.1 percent so far this month, Reuters said.
Australian shares were up 1.16 percent, while Japan's Nikkei stock index rose 1.49 percent. Elsewhere in Asia, China equities rose on Friday with China's blue-chip CSI300 index 0.24 percent higher. Hong Kong's Hang Seng index was down 0.41percent.
US stocks end low
US stocks gave back sharp early gains to end lower Thursday, as investors weighed Federal Reserve Chairman Jerome Powell’s plans for several interest-rate hikes this year and tighter financial conditions. Supply chain troubles persist, and profit forecasts are not providing any reasons to be optimistic.
The Russell 2000 index, which gauges the performance of small-capitalization stocks, ended Thursday down more than 20% from its recent high, meeting the commonly used definition of a bear market.
The US economy sped up toward the end of 2021 before omicron’s surge, growing at an annual rate of 6.9 percent in the fourth quarter (driven by inventory gains) as consumers spent more and businesses stocked back up. Economists polled by The Wall Street Journal had forecast gross domestic product to rise by 5.5 percent in the fourth quarter after a slower 2.3 percent annualized pace in the third quarter.
In other US data, orders for durable goods fell a larger-than-expected 0.9 percent in December, while initial claims for US unemployment benefits fell by 30,000 last week to 260,000, signaling that disruptions in the labor market tied to omicron are starting to fade.Pending home sales dropped 3.8 percent in December.
The yield on the 2-year Treasury surged 10.1 basis points Thursday to 1.190 percent, its biggest daily yield climb since March 10, 2020. The yield on the 10-year Treasury note fell 3.8 basis points to 1.807 percent.
Chile hikes interest rates
Chile's central bank raises Chile's central bank’s surprise 150-basis-point hike to its key lending rate at 5.5 percent overnight, more than the 125 basis points expected by markets did not help its currency.
Crude prices up
UScrude ticked up 0.67 percent to $87.19 a barrel. Brent crude reached $89.34 per barrel. Persistent tension between Russia and Ukraine had pushed oil prices to seven-year highs earlier in the week.
Results today
Larsen & Toubro, Dr Reddy’s Labs, Kotak Mahindra Bank, Britannia Industries, Vedanta, 3i Infotech, Aptus Value Housing Finance, Arvind SmartSpaces, Asahi India Glass, Atul, AU Small Finance Bank, Bajaj Healthcare, Bharat Electronics, Blue Dart Express, CARE Ratings, Central Bank of India, Chambal Fertilisers, Chemplast Sanmar, Crompton Greaves Consumer Electricals, Deepak Fertilisers, Dixon Technologies, Equitas Small Finance Bank, Happiest Minds Technologies, Karnataka Bank, Marico, Max Financial Services, Info Edge, Oberoi Realty, Suzlon Energy, Tata Coffee, United Breweries, UTI Asset Management Company, and Zenotech Laboratories.
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