Sensex, Nifty Likely To Have Firm Opening; Infosys, Wipro To Be In Focus

The domestic stock markets are likely to open firm, continuing with the momentum witnessed in the previous trading session. Trends on SGX Nifty indicate a positive start for the markets back home. At 7:30 am, the Nifty futures were trading at 18,275, higher by 95 points or 0.8 per cent, on the Singapore Stock Exchange.

Overnight, the S&P 500 and Nasdaq ended higher led by gains in Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market. The Dow Jones declined 0.53 points, whereas S&P 500 gained 0.30 per cent and Nasdaq Composite added 0.73 per cent.

Asian markets were trading mixed on Thursday morning; the Nikkei and Kospi gained 1 per cent each, while Straits Times declined 0.3 per cent.

The markets will respond to a slew of IT results declared post market hours on Wednesday. Index heavyweight Infosys reported a consolidated profit of Rs 5,421 crore in the quarter ended September 2021, an increase of 11.9 per cent compared to the same quarter last year.

Wipro reported a 19 per cent rise in consolidated net profit to Rs 2,931 crore for the quarter ended September 2021, compared to Rs 2,466 crore in the same period last year. And Mindtree reported a 57.2 per cent jump in net profit at Rs 398.9 crore in the quarter ended September 2021, compared to a profit of Rs 253.7 crore in the year-ago period.

In corporate earnings, HCL Technologies, Indiabulls Real Estate and Century Textiles will declare their Q2 numbers during the day.

On October 13, the BSE Sensex had surged 452.74 points and the NSE Nifty had climbed 169.80 points.