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Tuesday, Nov 29, 2022
Outlook.com
Outlook.com

Nifty Seen Opening Above 18,300; Infosys, TCS, Wipro In Focus

Tata Consultancy Services will be in focus after the company reported net profit of Rs 9,769 crore for quarter ended December 2021.

Nifty Seen Opening Above 18,300; Infosys, TCS, Wipro In Focus
Nifty Seen Opening Above 18,300; Infosys, TCS, Wipro In Focus
outlookindia.com
2022-01-13T08:51:48+05:30

The Indian equity benchmarks are set to stage a gap up opening as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 0.67 per cent or 123 points to 18,339 amid mixed global cues. Japan's Nikkei fell 0.86 per cent, Hong Kong's Hang Seng advanced 0.44 per cent and South Korea's KOSPI fell 0.2 per cent.

Overnight, World stocks rose on Wednesday while U.S. Treasury yields and the dollar fell, after the latest U.S. inflation data showed price pressures surging but within expectations, apparently suggesting the Federal Reserve will not have to hike interest rates too aggressively.

The benchmark S&P 500 index gained 0.28 per cent, the Nasdaq Composite added 0.23 per cent, and the Dow Jones Industrial Average inched up 0.11 per cent. Gains were stronger for European and Asian shares, news agency Reuters reported.

Back home, Tata Consultancy Services will be in focus after the company reported net profit of Rs 9,769 crore for quarter ended December 2021 and also announced a share buyback proposal worth Rs 18,000 crore.

Infosys net profit for quarter ended December 2021 rose 7 per cent annually to Rs 5,809 crore the company also raised its revenue guidance to 19.5-20 per cent.

Wipro's net profit in third quarter of current financial year rose 1.3 per cent to Rs 2,970 crore.

Tata Motors will be in focus after JLR sales fell 37.6 per cent to 90,126 units in third quarter.

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