MARKETS: Sensex rises 200 points, Nifty above 18,350 in pre-open

On Jan 18, 2022

Pre-open session

LIVE market updates: The benchmark indices were seen holding gains in pre-open trades on Tuesday. The BSE Sensex was up 257 points at 61,566, and the NSE Nifty was at 18,372, higher by 63 points.

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LIVE market updates: The key benchmark indices are likely to start on a flattish note taking cues from their Asian counterparts, as the US markets were shut for trade on Monday. As of 07:50 AM, the SGX Nifty futures were quoting 18,326 levels, down 14 points compared to Nifty’s previous close.

The market action is largely focussed around Q3 earnings of companies for now. The RBI, meanwhile, on Monday said that the omicron-led third wave of Covid-19 may turn out to be “more of a flash flood than a wave”, and the Indian economy could rebound to pre-pandemic levels.

Meanwhile, among individual stocks today, Bajaj Finance, ICICI Prudential Life Insurance, Just Dial, LT Technology Services, and Tata Elxsi may remain in focus as these companies announce the December quarter results.READ MORE.

Further, Tech Mahindra too will be on radar as its board has approved a proposal to acquire 100% stake in Com Tec Co IT & an investment for a minority stake of 25% each in SWFT Technologies & Surance.

Manappuram Finance may also be eyed as its board has approved raising up to Rs 800 crores via NCDs.

In an other significant development, SoftBank-backed Oyo is reportedly targetting a valuation of about $9 billion in its initial public offering after preliminary conversations with potential investors. READ MORE.

Global cues

The major markets in Asia this morning were marginally positive. Nikkei and Shanghai had advanced 0.6 per cent each. Hang Seng, Straits Times and Kospi were up .2 per cent each. Taiwan, however, was down 0.1 per cent.

Meanwhile, oil prices edged higher on Monday despite reports that China agreed to release oil reserves, and a marginal rise in Libyan oil output. Brent Crude added 0.5 per cent to $86.48 a barrel, and WTI Crude was up 0.6 per cent at $84.35 a barrel.

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