MARKET LIVE: Sensex up 300 pts; Tech M zooms 5%, CEAT tumbles 6%

Opening Bell (Updated at 9:25 AM)

LIVE market updates: The frontline indices extended their winning ways into second day, on the back of across-the-board buying. That apart, positive global cues also lent support to the markets.

In early trade, the headline S&P BSE Sensex was at 61,231 levels, up 263 points or 0.43 per cent while the Nifty50 index was testing 18,200 levels.

In the broader markets, the BSE MidCap and SmallCap indices added 0.4 per cent and 0.6 per cent, respectively.

Among individual stocks, Tech M shares surged over 5 per cent in early trade after the company’s Q2FY22 net rose 25.8 per cent YoY to Rs 1,339 crore, while revenue grew 16.1 per cent YoY to Rs 10,881 crore.

CEAT shares, however, declined over 6 per cent after Q2FY22 net plunged 76.9 per cent to Rs 42 crore as against Rs 181.9 crore in Q2FY21. Revenue, however, was up 23.9 per cent at Rs 2,451.8 crore from Rs 1,978.5 crore in the same period.

Sectorally, all the indices were trading in the green barring the Nifty Private Bank index, which was down 0.04 per cent.

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The BSE Sensex advanced 63 points to quote at61,030 levels in pre-open session. The Nifty, on the other hand, held above the 18,100-mark at 18,132.

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LIVE market updates (Updated at 8:15 AM): The markets are likely to start trade on a quiet note despite positive global cues and strong Q2 earnings by India Inc, as valuations concerns linger.

The BSE Sensex ended Monday with a gain of 145 points, while the NSE index was up 10 points at 18,1125. The SGX Nifty was up 36 points at 18,177 at 08:10 AM.

Earnings today

ABB, Ambuja Cement, Axis Bank, Bajaj Finance, BirlaSoft, Canara Bank, Central Bank, Cipla, Gati, Greaves Cotton, Hikal Chemicals, IRB, Kotak Bank, Mahindra Lifespace, Mahanagar Gas, MRPL, Persistent Systems, Torrent Pharma and Zensar Technologies are some of the prominent companies to announce September quarter results today.

Global cues

The US markets ended higher in trade on Monday on the back of robust earnings even as oil traded at 3-year highs, and gold too rose amid persistent worries about inflation. The Dow gained 0.2 per cent, and the S&P 500 was up 0.5 per cent, while the Nasdaq jumped 0.9 per cent.

Brent crude rose 0.13 per cent to $86.10 a barrel in early trade today. Gold prices rallied nearly a per cent to $1,807.71 per ounce.

In Asia, Japan’s Nikkei rallied 1.7 per cent early Tuesday. Shanghai Composite and Kospi were up over 0.5 per cent each. The S&P/ASX 200 also added 0.2 per cent.

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