Sensex, Nifty rise in early trade; selling in IT shares keep upside capped

Asia's Tech News Daily

sensex, it stocks, nifty, stock market returns, share market news

NEW DELHI: Domestic stocks were off to a positive start on Thursday, tracking a firm trend across Asian markets. Upside was, however, capped as investors were cautious over Brent crude prices that edged higher to a new three-year peak earlier in the day. Valuation concerns and selling in IT names also kept gains limited for domestic indices.

At 9.24 am, the BSE Sensex was trading 139 points, or 0.23 per cent, higher at 61,399.42 The index had fallen in the previous two sessions.

The Nifty50 rose 57.05 points, or 0.31 per cent, to 18,323.65. The 50-pack index topped 18,350 in opening trade.

Kotak Mahindra Bank, Power Grid and Sun Pharma rose over 1 per cent. HCL Tech tanked 3.23 per cent to Rs 1,192.50. TechM, TCS and Infosys fell up to 1.8 per cent.

A recent rise in domestic stocks has made the Street cautious with foreign brokerage UBS on Wednesday suggesting Indian stock valuations have turned unattractive. The foreign brokerage assigned an ‘underweight’ to India while double upgrading the rating for China equities to ‘overweight’.

“Investors should maintain caution before making fresh entry in mid- and- small-cap stocks after Wednesday’s market fall,” Said Mohit Nigam of Hem Securities.

IRCTC gained 2.18 per cent to Rs 4,529.40 after falling 31 per cent in the previous two sessions. Havells India dropped 7.85 per cent after reporting a 7.34 per cent decline in its consolidated net profit at Rs 302.39 crore for September quarter.

Varroc Engineering climbed 7.42 per cent to Rs 315.70 after HDFC Asset Management Company acquired 0.58 per cent stake in the company via open market transactions on October 19, increasing its shareholding to 5.11 per cent from 4.53 per cent earlier.

NBCC added 1 per cent on bagging orders worth Rs 375 crore in Haryana, Delhi, and Rajasthan as a project management consultant.

Jindal Stainless also gained 1 per cent after the steel maker commissioned a precision strip mill having a capacity of 26,000 tonnes per annum at its plant in Hisar.

Meanwhile, Asian Paints, JSW Steel, ICICI Lombard General Insurance, Mphasis, IDBI Bank, Macrotech Developers, Concor, Biocon, TVS Motor, Indian Hotels, IEX and IndiaMART InterMESH are among companies that will announce their September quarter results today.

Globally, most Asian markets were trading higher.

Late on Wednesday, China’s Evergrande said it abandoned a $2.6 billion sale of a stake in a subsidiary and that it had made no progress on other sales, which sent its shares 10 per cent lower at the open in Hong Kong trading. That said, shares in rival developers rose after Chinese officials said the trouble in the sector would not be allowed to escalate into a full-blown crisis.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Time Traveling in Joo Chiat Complex

All images: Zachary Tang/Rice Media “Why are you here?” The security guard asks, regarding me with suspicion, as I’m taking photos inside Joo Chiat Complex. “The tenants don’t like visitors ... Read more »

Zynga's Star Wars: Hunter Arena Battler Debuts First Gameplay Trailer

© Provided by Geek Culture Zynga’s Star Wars Hunter Debuts First Gameplay Trailer If you love all things Star Wars, then you have one more videogame addition to look forward ... Read more »

Centre, state need to be on the same page on curbs

© Provided by Mid-Day In order to make the state’s guidelines for international and domestic travellers in sync with the Centre’s and not make them more inconvenient and stringent, the ... Read more »

China unveils package to boost economy amid IMF growth warning

China’s politburo has signalled measures to kickstart the faltering economy as the crisis gripping the country’s debt-laden property sector continued to play havoc with growth forecasts. © Provided by The ... Read more »

Myanmar's Aung San Suu Kyi faces two years in jail after her sentence is halved

Myanmar’s deposed civilian leader, Aung San Suu Kyi, faces two years in jail after her sentence was halved by the country’s military, state media MRTV reported on Monday. © KOEN ... Read more »

Anne Frank memorial targeted with anti-Semitic messages during Hanukkah

A park near the Anne Frank memorial in Boise, Idaho, was vandalized over the weekend with anti-Semitic graffiti, marking the second time in a year that the area has been ... Read more »

India signs trade and arms deals with Russia during Putin's visit to New Delhi

Russia and India signed a flurry of trade and arms deals during President Vladimir Putin’s visit to New Delhi for talks with Prime Minister Narendra Modi on Monday, including one ... Read more »

Artist linked to parents of Michigan school shooter questioned by police

Community gathers to remember students killed in deadly shooting, in Oxford, Michigan By Dan Whitcomb (Reuters) – Detectives on Monday questioned an artist linked to the Detroit studio where the ... Read more »

Did Britain get its initial Covid vaccine strategy WRONG? Mixing and matching first and second doses offer better immunity, study suggests

Mixing and matching Covid jabs triggers a stronger antibody and T-cell response Findings support flexible approach to rollout, especially in low-income countries In the UK, people either received two doses of Pfizer, AstraZeneca or Moderna  Read more »

'Little People, Big World' Star Jacob Roloff Welcomes 1st Child with Wife Isabel Rock

© Instagram Jacob Roloff is a new dad! The former Little People, Big World star has announced that he and his wife, Isabel Sofia Rock, welcomed their first child together. Roloff took to ... Read more »

Samsung combines mobile and consumer electronics businesses

Samsung Electronics has announced an internal reorganization of its businesses with several changes to leadership. The company will have two new CEOs overseeing two divisions: Device Solutions, which is the ... Read more »

Analysis-China Evergrande teeters again, but investors less fearful

FILE PHOTO: Evergrande Cultural Tourism City in Suzhou’s Taicang By Marc Jones and Ross Kerber LONDON/BOSTON (Reuters) – Just three months after narrowly avoiding collapse, the world's most indebted developer ... Read more »

Arsenal tidak cukup bagus

© Provided by Sinar Harian PENGURUS Arsenal, Mikel Arteta menyifatkan anak buahnya bermain tidak cukup bagus selepas terpaksa akur kalah 2-1 pada minit akhir perlawanan kepada Everton. Pada perlawanan tersebut, ... Read more »

Saquon Barkley continues to dominate Giants' touches over Devontae Booker

The Giants are willing to give some of Saquon Barkley’s snaps to Devontae Booker, but that’s where the timeshare stops. The lion’s share of the carries and receptions will stay ... Read more »

Tom Thibodeau not done mulling more Knicks changes

A week after shaking up the Knicks lineup with the subtraction of Kemba Walker, Tom Thibodeau is considering even more changes as the team heads out on a three-game road ... Read more »

Travis Scott asked a judge to dismiss one of the over 300 Astroworld lawsuits against him

© Getty Images Travis Scott’s Astroworld Festival. Getty Images There have been close to 300 lawsuits filed against Travis Scott over the deadly Astroworld concert. On Monday Scott asked a ... Read more »

Chris Noth Weighs in on Kim Cattrall's 'Sad and Uncomfortable' Absence on And Just Like That…

© Provided by People Craig Blankenhorn/Warner Bros./Everett Chris Noth as Mr. Big Chris Noth is opening up about his relationship with onscreen partner Sarah Jessica Parker. © Craig Blankenhorn/Warner Bros./Everett ... Read more »

Shannen Doherty Visits ‘The Talk', Says She's ‘Really Proud' Of Cancer Movie Following Critics Choice Award Nomination

Shannen Doherty paid a virtual visit to Monday’s edition of “The Talk”, where she celebrated receiving a Critics Choice Awards nomination for her Lifetime movie “List of a Lifetime”. © ... Read more »

Alaya F: I lost two films in initial months of lockdown

© Provided by Mid-Day Alaya F caught the audience’s attention with her easy screen presence in Jawaani Jaaneman (2020). But almost two years down the line, we are yet to ... Read more »

Raveena Tandon: There is a growing acceptance for actors in their 40s

© Provided by Mid-Day Her debut web offering has given her what two-decade-plus career in films didn’t — the opportunity to play a cop. In Aranyak, Raveena Tandon portrays the ... Read more »

Sikandar Kher on Aarya 2: 'As long as I'm acting, playing lead isn't a priority; look at Daulat, it's a beautiful character'

© Provided by Firstpost Sikandar Kher on Aarya 2: ‘As long as I’m acting, playing lead isn’t a priority; look at Daulat, it’s a beautiful character’ “Congratulations for being nominated ... Read more »

December eats: Where we are eating in Delhi NCR all this month

© Provided by Lifestyle Asia The new variant of concern may have presented itself as a hiccup amidst the 2021 festivities, but that doesn’t mean you can’t enjoy a nice ... Read more »

Bigg Boss 15: Do you think Karan Kundrra and Tejasswi Prakash's relationship will last even after the show ends? Vote now

© Provided by BollywoodLife.com Bigg Boss is all about fights, arguments and even relationships. Talking about relationships, Karan Kundrra and Tejasswi Prakash started having feelings for each other on Bigg ... Read more »

Katrina Kaif & Vicky Kaushal might have to make THIS additional trip before their wedding in Rajasthan?

© Provided by Pinkvilla The wedding festivities of Katrina Kaif and Vicky Kaushal will reportedly begin from today at Six Senses Fort Barwara. The bride-to-be and groom-to-be arrived at the ... Read more »

Sylvester Stallone to star in TV drama Kansas City

© Bang Showbiz Sylvester Stallone has been cast in Kansas City Sylvester Stallone is set to star in the mob drama ‘Kansas City’. The Paramount+ series – which is being ... Read more »

Myanmar military truck rams into peaceful protesters

At least five persons were killed and several others injured after a military truck rammed at speed into a group of seemingly peaceful anti-coup protesters in Myanmar’s capital Yangon on ... Read more »

Chippewa Co. officer cleared in fatal shooting case

Dec. 6—CHIPPEWA FALLS — A Chippewa County deputy was cleared Monday of all wrong-doing in a fatal shooting that occured Oct. 8. Chippewa County District Attorney Wade Newell released a ... Read more »

Jackson County deputies involved in police shooting Monday night, sheriff says

The Missouri State Highway Patrol is investigating a police shooting that took place in suburban Kansas City involving a Jackson County deputy on Monday. Jackson County Sheriff Darryl Forte said ... Read more »

Developer China Evergrande's shares firm as restructuring looms

FILE PHOTO: Headquarters of China Evergrande Group in Shenzhen HONG KONG (Reuters) -Shares of China Evergrande Group rose over 7% on Tuesday in early trading as the embattled developer moves ... Read more »

Kylie Jenner and Travis Scott 'are spending even more time together'

Kylie Jenner and Travis Scott have been “leaning on each other” as they prepare for the arrival of their second child. © Bang Showbiz Kylie Jenner is preparing for the ... Read more »

One year from UK's first Covid-19 jab, how many are still unvaccinated?

One year on from Margaret Keenan becoming the first person in the world to receive a Covid-19 jab as part of a mass vaccination programme, around one in 10 eligible ... Read more »

Leonardo DiCaprio's father George has a cameo in Licorice Pizza

© Provided by Daily Mail MailOnline logo Leonardo DiCaprio was at the world premiere for his new film Don’t Look Up when he found out his father George DiCaprio had ... Read more »

NY up to 12 confirmed Omicron cases as 32 hospitals barred from elective surgery

New York is up to 12 confirmed Omicron cases. KENA BETANCUR/AFP via Getty Images New York State health officials confirmed four more cases of the COVID-19 Omicron variant, bringing the ... Read more »

Marvel Studios Announces Shang-Chi Sequel And Disney+ MCU Series From Director Destin Daniel Cretton

© Provided by Geek Culture Marvel Studios has officially confirmed the development of Shang-Chi 2 with original director Destin Daniel Cretton set to return. The director is also developing a Marvel series ... Read more »

Japan will make its own decision on Beijing Olympic participation, says PM Kishida

© Reuters/ISSEI KATO Japan’s Prime Minister Fumio Kishida attends the opening of an extraordinary session of parliament in Tokyo TOKYO (Reuters) – Japan will make its own decision on whether ... Read more »

Modi to inaugurate AIIMS, fertiliser unit in Gorakhpur today

After the airport in Kushinagar and the medical college in Siddharthnagar, Prime Minister Narendra Modi on Tuesday will be in Gorakhpur to inaugurate key projects like AIIMS and fertiliser factory. ... Read more »

Former US Senator and WWII veteran Bob Dole dies aged 98

Dole had disclosed in February that he was being treated for stage-four lung cancer. Read more »

4 states, Delhi have Omicron cases in India, highest number in Maharashtra

© Provided by Hindustan Times A healthcare worker collects a swab sample of a man for Covid-19 test in wake of the new variant Omicron, in Mumbai on Monday. (ANI ... Read more »

'You can continue probe but can't file chargesheet against Param Bir Singh': Supreme Court to Maharashtra police

© Provided by Zee News New Delhi: The Supreme Court has directed the Maharashtra police not to file chargesheet in the FIRs lodged against the former Mumbai Police Commissioner Param ... Read more »

India, EU discussed need to engage with Taliban but no recognition yet: EU special envoy

© Provided by The Print New Delhi: India and the European Union (EU) share a common vision on the Taliban’s takeover of Afghanistan, and discussed the need to engage with ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic