Stock Market Today: On Tuesday, Indian benchmark indices are expected to open higher on the back of robust global cues. SGX Nifty futures traded 75 points higher at 18,222 levels, indicating a good start for the local share market. The NSE Nifty 50 gained 90.90 points, or 0.50%, to 18,118.55, while the 30-share BSE Sensex gained 319.90 points, or 0.53%, to 60,941.67. Bank Nifty gained 0.74%, Nifty IT gained 1.88%, and Nifty Pharma gained 0.89% in the sectoral indices. Individual equities plummeted 8.33% to settle at Rs 18.15 after Yes Bank announced an 80.66% reduction in net profit for the quarter ended December 31 to Rs 51.5 crore due to a huge 125% increase in provisions.
Oil rises slightly; focus on China demand and U.S. outlook
Crude oil prices increased modestly in early Asian trade on Tuesday, with the market focused on the possibilities of a revival in demand from top importer China, as well as the global economic outlook ahead of company reports. By 0116 GMT, Brent crude had increased 5 cents to $88.24 per barrel, while WTI crude in the United States had risen 13 cents to $81.75 per barrel.
Stock Market Today: Nifty forms Doji candle, ends above 20-DMA
On the daily charts, the Nifty created a Doji candle and closed the day with a gain of roughly 90 points, closing above the 20-DMA.
Wall Street extends rally, powered by tech bounce
Wall Street closed substantially higher on Monday, propelled by rising technology companies, as investors entered an earnings-heavy week with newfound confidence for market-leading momentum stocks that had been hammered the previous year.
Stock Market Today: FII and DII data
According to preliminary data available on the NSE, foreign institutional investors (FII) net-sold shares worth Rs 219.87 crore on January 23, while domestic institutional investors (DII) net-bought shares worth Rs 434.96 crore.
Sunteck Realty Q3 pre-sales up 12% at Rs 396 crore
Pre-sales in Q3 FY23 were Rs 396 crores, up 12% year on year, while 9M FY23 pre-sales were Rs 1,066 crores, up 33% year on year.
In Q3 FY23, the company collected Rs 304 crores, up 13% year on year, while in 9M FY23, the company collected Rs 920 crores, up 42% year on year.
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