Sensex Rallies Over 300 Points; Infosys Soars 3% Post Q2 Earnings
The domestic stock markets have opened open firm, continuing with the momentum witnessed in the previous trading session, thanks to the strength in Infosys shares post its Q2 earnings. At 9:18 am, the BSE Sensex was trading at 61,112.50, higher by 385 points or 0.61 per cent and the NSE Nifty was at 18,287.15, up 129.85 points or 0.70 per cent. The broader markets are also trading strong, with the BSE Midcap index and BSE Smallcap index gaining 0.8 per cent and 0.7 per cent each.
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.
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. Infosys has zoomed 3 per cent post its quarterly numbers.
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. Wipro and Mindtree have gained 4 per cent and 5 per cent respectively in wake of their results.
Among other heavyweights, SBI, ITC and HDFC Bank gained around a per cent each on the BSE.
On the other hand, TCS, HCL Tech and InduisInd Bank have shed around a per cent each on the BSE.
In corporate earnings, HCL Technologies, Indiabulls Real Estate and Century Textiles will declare their Q2 numbers during the day.
The BSE market breadth is strong. Out of 2,840 stocks traded on the BSE, there are 1816 advancing shares as against 900 declines.