Sensex Today | Share Market Live Updates: Sensex gains 350 points, Nifty above 21,700; Infy jumps 5%, TCS surges 3%

At 0902 am, Sensex was up 300 points at 72,020.31. TCS, Infosys, M&M Ultratech Cement, LIC, HG Infra will be in focys today.

TCS, Infosys, M&M, Wipro, HCL Tech, Ultratech Cement, LIC, HG Infra are some of the stocks to watch today. 

HCL Technologies, Wipro, HDFC Life Insurance Company, Tata Metaliks, Anand Rathi Wealth, Artson Engineering, Bharat Bijlee, Aditya Birla Money, Den Networks, Just Dial, Harshil Agrotech, Hathway Bhawani Cabletel & Datacom, Hi-Tech Pipes, JTL Industries, will announce their quarterly earnings on Friday.

State Bank of India (SBI) has long avoided payment transactions for Russian oil bought by state-run refiners to avert US sanctions that came into force on 5 December 2022, two people aware of the matter said.

SBI, India’s largest lender, is the authorized dealer bank for foreign transactions of state-run refiners. The sanctions of the US treasury department’s Office of Foreign Assets Control on maritime transportation of the Russian Federation-origin oil took effect on 5 December 2022, and for seaborne transportation of petroleum products on 5 February 2023.

Tata Consultancy Services (TCS) Ltd grew faster than its closest rival Infosys Ltd in the December quarter and beat profit estimates, even as both IT industry heavyweights remain at risk of clocking some of their weakest growth numbers in 2023-24.

At least a third of TCS’s incremental growth in the third quarter was driven by the large contract it secured from state-owned telecom firm Bharat Sanchar Nigam Ltd (BSNL). Excluding that, its performance was only a tad better than that of Infosys, which posted a third straight quarter of muted performance with both revenue and profit falling short of Street expectations.(read more)

The Central government’s net direct tax receipts after refunds rose 19.4% year-on-year to ₹14.7 trillion this fiscal till 10 December 2023, showing strong tax buoyancy.

Net direct tax receipts so far this year make up 80.61% of the budget estimates for direct taxes for the current fiscal.

The Centre had a direct tax collection target of ₹18.2 trillion this financial year, expecting to collect 10.5% more than the year before. 

Oil prices rose as the US and its allies launched airstrikes against Houthi rebel targets in Yemen, stepping up retaliation for attacks on ships in the Red Sea. While Brent rose as much 2% to near $79 a barrel, West Texas Intermediate was close to $74.

US consumer prices increased more than expected in December. The consumer price index (CPI) rose 0.3% last month after nudging up 0.1% in November, the Labor Department’s Bureau of Labor Statistics said on Thursday. In the 12 months through December, the CPI rose 3.4%.

The number of Americans applying for unemployment benefits fell to its lowest level in nearly three months last week. Jobless claim applications fell to 202,000 for the week ended 6 January, down by 1,000 from the previous week, the Labor Department reported.

China’s consumer prices fell for a third straight month in December, a sign of weak domestic demand that’s leading economists to call for more stimulus. The country’s consumer price index fell 0.3%. The producer price index, which measures factory-gate prices, fell 2.7% on-year. (Bloomberg)

Equity markets in Asia were mixed Friday as traders digested conflicting signals in US inflation data. Japanese stocks opened higher on Friday, extending gains from the previous day’s session. Australian shares and Hong Kong equity futures fell. US futures were little changed after the S&P 500 ended Thursday flat. The tech-heavy Nasdaq 100 closed 0.2% higher overnight.