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At 3:30 p.m., futures contract of Dow Jones was up 0.2% to 43,228.3, that of S&P 500 was also 0.14% up at 5,997.50, and Nasdaq 100 futures contract was 0.25% up at 21,454.25.
Market breadth was skewed in favour of buyers. Around 2,777 stocks advanced, 1,188 stocks declined, and 102 stocks remained unchanged on BSE.
Nifty and Sensex extend gains for the third straight session.
Intraday, both Nifty and Sensex had risen 0.77% each.
Nifty ends 0.42% or 98.60 points up at 23,311.80.
Sensex ends 0.42% or 318.74 points higher at 77,042.82.
Broader indices outperformed. Nifty Midcap 100 ended 1.08% up; Nifty Smallcap 250 closed 1.21% higher.
Most sectoral indices rose with Nifty PSU Bank rising the most.
HDFC Life and BEL were top Nifty gainers.
Trent, DRL and Tata Consumers fell the most.
Most automobile companies of India are likely to post lower-than-expected numbers in the quarter ended December, according to Nomura, but Ashok Leyland Ltd.'s numbers might positively surprise the market.
Read full story here.
Paytm share price rose nearly 8% after Emkay Global upgraded parent One97 Communications Ltd. to a 'buy' rating from 'add'. It also raised its target price to Rs 1,050 per share from the previous Rs 750, citing the company’s improved revenue prospects and a positive regulatory environment. This revised target price, based on a discounted cash flow model, suggests a potential upside from the current levels.
Read full story here.
Over 5.52 million shares of GMR Airports were traded via a block deal on Thursday. The share of GMR Airports rose as much as 0.55% to Rs 74.73 apiece.
Waaree Renewable Technologies Q3 Highlights (Consolidated, YoY)
Margin at 20% versus 27%.
Ebitda down 18% to Rs 72 crore versus Rs 88 crore.
Revenue up 11% to Rs 360 crore versus Rs 324 crore.
Net profit down 16.7% to Rs 53.5 crore versus Rs 64.2 crore.
Read full story here.
Over 1.83 million shares of Power Finance were traded via a block deal on Thursday. The share of Power Finance rose as much as 1.84% to Rs 437.50 apiece.
DB Corp Q3 Highlights (Consolidated, YoY)
Revenue down 0.3% to Rs 643 crore versus Rs 645 crore.
Ebitda down 3.2% to Rs 177 crore versus Rs 183 crore.
Margin at 27.6% versus 28.4%.
Net profit down 4.6% to Rs 118 crore versus Rs 124 crore.
Advertising revenue down 1% to Rs 477 crore versus Rs 482 crore.
Circulation revenue down 1.11% to Rs 356 crore versus Rs 360 crore.
Read full story here.
Gland Pharma on Thursday gets establishment inspection report from USFDA.
Global Tailwinds Help Indian Aluminum Players
China aluminum production restrictions to limit export opportunity.
Potential added EU import restrictions on Russian aluminum to help India.
Short Boost In Aluminum Price
Spot price rise 1.83% intraday to $2606/MT.
Prices up 3.3% in the past week, up 19% in the past year.
Potential Benefits To India Players
Higher aluminum prices positive for sales realizations.
Global tailwinds present opportunity, can help increase volume.
What Is Priced In?
Market factoring 17.9%/9.2% lower commodity prices for Nalco/Vedanta.
Market factoring 16.2% lower commodity prices for Hindalco.
Nalco To Have Highest Upside
Near term earnings to be upgraded if prices hold steady; Emkay .
23.5% upgrade potential for FY26 Ebitda; Emkay.
Read full story here.
Indian equities continue to trade higher with Nifty being rangebound around 23,300 and Sensex trading 76,999.
Intraday, both Nifty and Sensex rose over 0.77%.
Nifty rose 0.77% or 178.45 points at 23,391.65.
Sensex rose 0.78% or 595.42 points higher at 77,319.50.
Broader indices also advanced. Nifty Midcap rose 1.20%; Nifty Smallcap was trading 1.09% higher.
Most sectoral indices advance, led by Nifty PSU Bank.
Nifty Bank rose 1.09%, Nifty IT was down 0.40%.
HDFC Life, SBI Life and Shriram Finance were top Nifty gainers.
Trent, Tata Consumers, HCL Tech and Nestle top Nifty losers.
Larsen and Toubro to report its results on Jan. 30. The shares of L&T was trading 0.52% higher at Rs 3,525.55.
Over 2.19 million shares of NMDC were traded via two block deals on Thursday. The share of Axis Bank rose as much as 3.58% to Rs 65.47 apiece.
At pre-open, the NSE Nifty 50 was trading 164.05 points or 0.71% higher at 23,377.25. The BSE Sensex was 593.10 points or 0.77% higher at 77,317.18.
Nifty is expected to trade between 23,000 and 23,650, according to IFA Global. Bank Nifty is likely to trade between 48,450 and 49,600.
"India VIX cooled off by another 1.4% yesterday as Nifty closed positive for two consecutive sessions.," the note said.
Rupee weakened by 6 paise to open at 86.42 against the US Dollar. It closed at 86.36 on Wednesday.
Source: Bloomberg
The dollar index is 0.01% lower at 109.09. Brent crude is up 0.30% to $82.28.
The Indian Rupee strengthened by 27 paise to 86.36 on overall Dollar weakness and likely intervention by RBI.
The currency is expected to open around 86.43 and trade an 86.30-86.55 range with weakening bias, according to India Forex And Asset Management Pvt. (IFA Global).
Meanwhile, the 1-year forward yield came off 13 basis points to 2.45%. On the other hand, the 3-month at-the-money-forward (ATMF) implied volatility rose by 3 basis points to 3.84%.
Citi has maintained a "Sell" rating on L&T Technology Services and cut its target price to Rs 4,435 from Rs 4,500.
The company’s performance was largely in line with expectations, but its revenue guidance has been revised down. The revised guidance now indicates a near 10% revenue growth, including the acquisition, with organic growth expected to be around 8%, down from the earlier projection of 8-10%.
Citi anticipates financial year 2026 will be a better year than financial year 2025. The Mobility segment is expected to show muted growth, while the momentum in Sustainability and Hi-tech sectors is likely to continue into fourth quarter.
Macquarie has maintained an "Underperform" rating on L&T Technology Services with a target price of Rs 4,310.
The company has seen strong growth in its Technology vertical, highlighted by record deal wins it said in its note. The acquisition of Intelliswift has shifted the portfolio towards the faster-growing Digital Software Engineering segment.
However, the Mobility segment experienced a 5.2% decline in quarter-on-quarter growth in constant currency terms, with expectations of continued challenges in the automotive sector for the next few quarters.
Overall, Macquarie believes that IT Services firms are poised to grow faster than Engineering Research and Development firms.
The US Dollar index is down 0.05% at 109.06.
Euro was down 0.02% at 1.0289
Pound was up 0.12% at 0.8179
Yen was down 0.47% at 155.65
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