MARKETS: Sensex, Nifty volatile; Banks lead, Thermax up 5%

Opening Bell

LIVE market updates: The benchmark indices started on a flattish note for the fourth day amid mixed global cues. The BSE Sensex was up 40 points at 59,898, while the NSE Nifty50 was 17 points higher at 17,822.

In the broader market, the BSE MidCap and SmallCap indices were in the green zone and were up by 0.4 per cent.

Among the Sensex-30 constituents, Bajaj twins, Ultratech Cement, ICICI Bank, Axis Bank and HDFC Bank were the top gainers,

All sectoral indices were trading in the posiitve zone. except IT.

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LIVE market updates: The benchmark indices indicated a flat start on Wednesday as the BSE Sensex was down 10 points at 59,845, while the NSE Nifty too was around 3 points lower at 17,802 in the pre-open session.

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LIVE market updates: The benchmark indices may start on a tepid note on Wednesday amid mixed global market cues and the rapidly rising cases of Covid-19 in the country. At 8:00 am, the SGX Nifty January futures quoted at 17,805, indicating a muted start.

Stock specific action is likely to dictate the market trend. Among individual shares, GAIL will be in focus today after the IL&FS Group sold its 26 per cent stake in ONGC Tripura Power Company (OTPC) to GAIL (India) for Rs 319 crore.

Further, Future Retail may also remain in the limelight as the Delhi High Court has dismissed its petition seeking termination of arbitration proceedings in Singapore.

Pharma major Dr Reddy’s may also be eyed as the company has rolled out anti-Covid pill molnupiravir under its brand name Molflu.

Global cues

The US markets ended on a mixed note amid selective profit-taking. The Dow Jones gained 0.6 per cent, while the S&P 500 and Nasdaq slipped 0.1 per cent and 1.3 per cent, respectively.

Meanwhile, oil prices jumped to the highest levels since November 2021 even as OPEC+ agreed to stick with its planned production increase in February, citing only a mild impact on demand owing to the Omicron variant. On Tuesday, Brent Crude rose 1.3 per cent to $ 80 a barrel, and WTI Crude added 1.2 per cent to $ 76.99 a barrel.

This morning the major markets in Asia were mostly down. Kospi had dropped over a per cent. Hang Seng and Shanghai Composite had declined over 0.5 per cent each. Taiwan too was down 0.1 per cent. However, Straits Times advanced 0.4 per cent, and Nikkei was flat.

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