Stock Market Today: Nifty, Sensex Rise For Second Day Lead By Gains In ICICI Bank, L&T, Infosys

The yield on the 10-year bond closed 4 bps lower at 7.19%.

Source: Bloomberg

• The local currency strengthened by 10 paise to close at 83.37 against the U.S. Dollar.

• It closed at 83.47 a dollar on Friday.

Source: Bloomberg

India's benchmarks ended higher for second day as gains in shares of ICICI Bank Ltd., Larsen & Toubro Ltd., and Infosys Ltd. aided.

The NSE Nifty 50 settled 189.40 points or 0.86% higher at 22,336.40, and the S&P BSE Sensex ended 560.29 points or 0.77% higher at 73,648.62.

Intraday, the NSE Nifty 50 rose 1.03% to 22,375.65, and the S&P BSE Sensex rose 0.93% to 73,767.80.

The Indian market extended last Friday's relief rally as Middle East tension saw some respite, though the situation remains fluid, said Vinod Nair, head of research, Geojit Financial Services. The recovery was broad-based across sectors, with renewed interest in mid- and small caps. Gold and oil prices showed some relief but are still at elevated levels. Hawkish remarks from the U.S. Federal Reserve, driven by persistent inflation and robust economic data, spurred a rally in bond yields. The prevailing higher interest rate environment is expected to persist longer than expected which, along with the moderating earnings growth, suggests a continuation of the consolidation in the near-term."

The earnings season will remain in focus, with several prominent companies, including Bajaj Finance Ltd., HCL Technologies Ltd., Maruti Suzuki India Ltd., Nestle India Ltd., Reliance Industries Ltd., and Tech Mahindra Ltd. are expected to report their Q4 financial results this week, said Avdhut Bagkar, technical and derivatives analyst, StoxBox.

ICICI Bank Ltd., Larsen & Toubro Ltd., Infosys Ltd., Axis Bank Ltd., and Reliance Industries Ltd. added positively to the benchmark

HDFC Bank Ltd., NTPC Ltd., JSW Steel Ltd., IndusInd Bank Ltd., and Tata Steel Ltd. limited gains in the index.

All 12 sectors ended higher on NSE, with the NSE Nifty PSU Bank index emerging as the top performer.

Broader markets ended higher on BSE. The S&P BSE Midcap index settled 0.93% higher and the S&P BSE Smallcap index rose 1.23%.

On BSE, 20 sectors ended higher with the S&P BSE Consumer Durables index rising the most among sectoral indices.

Market breadth was skewed in favour of the buyers. Around 2,622 stocks rose, 1,281 stocks declined, and 154 stocks remained unchanged on BSE.

• Lloyds Engineering secured naval equipment orders worth over Rs 81 crore.

Source: Exchange Filing

• Patel Engineering Ltd. likely to launch QIP soon

• Fund raise of close to Rs 350-400 crore

• QIP likely at a discount to CMP

Source: People In The Know To NDTV Profit