Latest Stock Market News

Tata Consultancy Services, a prominent IT company, was 3% higher, ahead of its third-quarter results. Early trading saw gains of more than 1% in both the IT and metal indexes.

While price-earnings multiples have come down from their peaks during the pandemic, many of the market’s biggest names continue to look expensive. At the same time, the profit outlook is weakening and the economy could be headed toward a recession as the Federal Reserve aggressively raises interest rates to combat inflation.

“The growth that they have shown in CC terms is definitely a well demonstrated execution part at such a kind of scale because they have ramped up the deals that they have won in the previous quarters and demonstrated the execution part well.”

In accordance with the latest corporate shareholdings filed, Ashish Kacholia publicly holds 43 stocks with an estimated net worth of over Rs. 1,875.6 crore, Trendlyne data showed.

“On Tuesday we may see a range-bound reaction based on the mixed result, but post that and definitely in the next two-three days, other IT giants are also reporting their numbers and based on that, overall sector movement will be decided after these two-three key results comes out along with management commentary.”

The Nifty Pharma index closed 0.91 per cent up at 12770.6.

For bulls, 18000 would be the sacrosanct support zone, and above the same, the pullback formation will continue till 18200-18270. On the flip side, below 18000, the uptrend would be vulnerable and the index could retest the levels

With inflation continuing to stay high globally and the risk of sustained rate hikes from global central banks pushing economies into a recession, 2023 is likely to be challenging for equity markets.

Both interim and special dividends would be paid on February 3 to equity shareholders of the company whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Tuesday, January 17, 2023

At the close, Sensex ended 847 points higher at 60,747, while Nifty50 climbed 1.35% to 18,101 points . Broader markets, however, underperformed the headline indices. Among sectoral indices, Nifty IT clocked the maximum gains of 3%.