Stock Market LIVE Updates: Sensex tops 61K for 1st time, rises 300 points, Nifty above 18,250; Infosys, TechM rise 2% each

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Watch this space as we bring you LIVE updates of the day’s proceedings from Dalal Street.

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Foreign brokers see up to 30% upside for Infosys after Q2 beat

Infosys’ September quarter results and FY22 guidance beat Street expectations, following which many foreign brokerages suggested targets in Rs 1,820-Rs 2,250 on the stock, suggesting up to 30 per cent potential upside on the counter. Analysts said since TCS’ numbers were a disappointment, the valuation gap of Infosys with the biggest IT stock would narrow going ahead.

Q2 impact: Wipro spikes after beating analyst estimates

Price as on 14 Oct, 2021 09:36 AM, Click on company names for their live prices.

Opening Bell: Sensex tops 61K for 1st time, rises 300 points, Nifty above 18,250; Infosys, TechM rise 2% each

Pre-open session: Sensex tops 61K, rises 288 points, Nifty above 18,250

Dollar pauses after rallying to one-year high earlier in week

The dollar touched its lowest this week against major peers on Thursday, taking a breather from a rally that had lifted it to a one-year high powered by expectations for quicker Federal Reserve interest rate hikes. The dollar index, which measures the currency against six rivals, was about flat at 94.016, after dropping 0.53% on Wednesday, the most since Aug. 23.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 84 points, or 0.46 per cent, higher at 18,264, signaling that Dalal Street was headed for a positive start on Thursday.

Tech View: Profit booking likely ahead of long weekend

Wednesday’s bullish gap area of 18,050-18,008 should act as a critical support for Nifty50 in the short term. Moreover, the strong surge is looking like some kind of consolidation breakout on the line chart after several days of sideways move. But owing to a long weekend, traders may prefer to book profit in the next session

South Korea stocks track Wall Street higher

South Korean shares rose for a second straight session on Thursday, tracking gains in the tech-heavy Nasdaq 100 and on hopes that improving corporate earnings could underpin the global economic recovery. The Korean won strengthened, while the benchmark bond yield fell. The benchmark KOSPI rose 36.42 points, or 1.24%, to 2,980.83.

China stocks drop at open

Shanghai stocks fell slightly at the start of trade Thursday as investors awaited the release of key inflation data due later in the day. The Shanghai Composite Index slipped 0.19 percent, or 6.65 points, to 3,555.11, while the Shenzhen Composite Index on China’s second exchange eased 0.22 percent, or 5.27 points, to 2,389.12.

Hong Kong markets closed for holiday

Financial markets in Hong Kong are closed on Thursday for a holiday.

Tokyo stocks open higher after US prices data

Tokyo stocks opened higher on Thursday as concerns over US inflation eased, with the latest data broadly in line with market expectations. The benchmark Nikkei 225 index was up 0.36 percent, or 100.61 points, at 28,240.89 in early trade, while the broader Topix index opened flat then rose 0.35 percent, or 6.82 points, to 1,980.65.

Modest gain breaks a 3-day losing run for S&P500

Major US stock indexes closed mostly higher Thursday, snapping a three-day losing streak for the S&P 500 despite another choppy day of trading. The benchmark index rose 0.3% after having been down 0.5% in the early going. It’s still on pace for a 0.6% weekly loss. The Dow Jones Industrial Average ended flat, while the Nasdaq rose 0.7%.

Rupee recovers 15 paise to 75.37 against dollar

The rupee on Wednesday rebounded by 15 paise to close at 75.37 (provisional) against the US dollar following a rally in domestic equities and weak American currency in the overseas markets. In addition, lower crude prices also supported the rupee sentiment, forex deals said. At the interbank forex market, the rupee opened strong at 75.29 against the greenback. During the session, the domestic unit swung between 75.19 and 75.51.

Sensex, Nifty on Wednesday

Equity benchmark Sensex soared 453 points to touch a new closing high of 60,737 on Wednesday, tracking gains in index heavyweights Reliance Industries, ITC and Infosys amid a positive trend in global markets. After scaling a record peak of 60,836.63 during the session, the 30-share Sensex settled 452.74 points or 0.75 per cent higher at 60,737.05, taking its winning run to the fifth consecutive day. Similarly, the Nifty rallied 169.80 points or 0.94 per cent to 18,161.75.

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