Stock Market LIVE: Sensex, Nifty higher in pre-open; Maruti, Axis Bank in focus

Wall Street closed sharply higher on Monday, fueled by surging technology stocks as investors began an earnings-heavy week with a renewed enthusiasm for market-leading momentum stocks that were battered last year.

24 Jan 2023, 09:05:53 AM IST

Nifty up 75.80 points at 18194.30 in pre-open 

24 Jan 2023, 09:04:38 AM IST

Sensex rises more than 100 points in pre-open 


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24 Jan 2023, 08:54:16 AM IST

Sequoia weighs audit of  investments  in  Asia

Sequoia mulls auditing South Asia investments after allegat lapses in Zilingo, GoMechanic, Bloomberg has reported.

Sequoia Capital’s regional arm in South and Southeast Asia is weighing special audits of several investments in the region following allegations of financial irregularities at firms such as Zilingo Pte and GoMechanic. (Read here)

24 Jan 2023, 08:41:52 AM IST

Market outlook: Reliance Securities 

Indian markets are likely to see gap up opening; SGX Nifty is up 120 points compared to previous spot Nifty closing. Asian Markets are trading in green; Nikkei is up 1.6% while Hang Seng is up 1.8%.

The fear of inflation has abated slightly with increased activity in some Asian markets. However, market participants are now expecting a possible recession. The US December macroeconomic data were dismal, pointing to a slowdown for the world’s largest economy. Meanwhile, the RBI has mentioned that while some economies adapted and coped with the difficult situation in 2022, the biggest risk in 2023 will be the US monetary policy and the trajectory of the US dollar. In the run-up to the Union Budget 2023, sector and stock-specific movements are expected to hit the markets in the coming weeks.

24 Jan 2023, 08:27:03 AM IST

Record e-way bills in December point to robust GST receipts in January

Monthly generation of e-way bills or electronic permits required for shipment of goods within and across states has shot up to an all time high in December, suggesting that Goods and Services Tax (GST) collection in January is likely to be robust.

24 Jan 2023, 08:15:13 AM IST

In respite for NSE, SAT sets aside Sebi’s co-location ruling

In a major relief for the National Stock Exchange, the Securities Appellate Tribunal (SAT) on Monday slashed to a sixth a 624.89 crore fine imposed on India’s largest bourse by the Securities and Exchange Board of India (Sebi) while setting aside the markets regulator’s April 2019 order against the exchange in the co-location scam. (Read here)

24 Jan 2023, 08:03:46 AM IST

Oil rises slightly; focus on China demand and U.S. outlook

Crude oil prices rose slightly in early Asian trade on Tuesday in a market focused on prospects of demand recovery from top importer China and on the global economic outlook ahead of company earnings, Reuters reported.

Brent crude had risen 5 cents to $88.24 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 13 cents to $81.75 per barrel.

Crude oil prices in physical markets have started the year with a rally, as China, no longer held back by pandemic controls, has shown signs of more buying and as traders have worried that sanctions on Russia could tighten supply.

24 Jan 2023, 07:50:22 AM IST

Stocks to Watch

Shares of Axis Bank, Maruti Suzuki, Zomato, Tata Motors, Nykaa, among others, will be in focus on Tuesday.

Maruti Suzuki, HDFC Asset Management Company, Colgate-Palmolive, CG Power and Industrial Solutions, Macrotech Developers, Nazara Technologies, PNB Housing Finance, SBI Cards and Payment Services, TVS Motor Company are among the key companies scheduled to announce earnings today.

24 Jan 2023, 07:47:43 AM IST

SGX Nifty hints at positive start to Indian indices

Nifty futures on the Singapore Exchange traded 91 points, or 0.50%, higher at 18,237.50. 

Asian markets rose tracking gains on the Wall Street where shares climbed higher on Monday, fuelled by a surge in tech stocks as investors began an earnings-heavy week with a renewed enthusiasm for market-leading momentum stocks that were battered last year.

24 Jan 2023, 07:42:19 AM IST

Asian stocks rise on US Fed optimism, Wall Street gains

Asian shares climbed Tuesday following gains on Wall Street amid strength in technology stocks and bets for less-aggressive rate hikes from the Federal Reserve.

A benchmark of Australian equities inched higher and Japan’s Topix index rallied more than 1% while many other markets in the region remained closed for Lunar New Year celebrations. The positive tone for riskier assets was carried over from the US on Monday, when the tech-heavy Nasdaq 100 had its best two-day rally since November and the S&P 500 extended its surge to 12% from an October low.

Overnight on the Wall Street, the S&P 500 rose 1.2%, led by tech companies. The gains more than made up for the benchmark index’s losses last week. The Dow Jones Industrial Average rose 0.8%, while the tech-heavy Nasdaq composite closed 2% higher. Small company stocks also rose, pushing the Russell 2000 index up 1.3%

Elsewhere in markets, oil steadied as traders awaited fresh signals on the state of Chinese crude demand after the nation ditched Covid curbs.

Gold reversed losses, with traders awaiting more US data that may shed light on the path of Fed rate hikes.

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