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HomeBusinessSensex Jumps 300 pts, Nifty Above 18,000; D-Mart Cracks 5%

Sensex Jumps 300 pts, Nifty Above 18,000; D-Mart Cracks 5%

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Sensex Today: Domestic equity markets started higher on Monday

Sensex Today: Domestic equity markets started higher on Monday

Sensex Today: Domestic equity markets started higher on Monday, lifted by HDFC Bank, Bajaj twins, IndusInd Bank, SBI, HDFC, and HCL Tech

Sensex Today: Domestic equity markets started higher on Monday, lifted by HDFC Bank, Bajaj twins, IndusInd Bank, SBI, HDFC, and HCL Tech. The S&P BSE Sensex advanced 295 points, or 0.49 per cent, to quote at 60,556 levels in early deals. The Nifty50, meanwhile, held above the 18,000-mark at 18,030, up 74 points or 0.4 per cent.

HDFC Bank shares gained 1 per cent in early deals after the lender reported an 18.5 per cent increase in its standalone net profit at Rs 12,259.5 crore for Q3FY23. NII registered a growth of 24.6 per cent on-year to Rs 22,987 crore.

Those of Wipro meanwhile, were up 0.6 per cent as the IT firm reported a consolidated net profit of Rs 3,052 crore for October-December FY23, an increase of 2.8 per cent year-on-year (YoY). Consolidated revenue grew 14.35 per cent to Rs 23,229 crore.

Global Cues

Asian shares started cautiously on Monday as investors waited nervously to see if the Bank of Japan (BOJ) will defend its super-sized stimulus policy at a pivotal meeting this week, while a holiday in US markets made for thin trading.

Tokyo stocks opened lower Monday as the yen strengthened against the dollar, following rallies on Wall Street where investors speculated that the Fed may slow its rate hikes. The benchmark Nikkei 225 index was down 1.14 per cent, or 297.98 points, at 25,821.54 in early trade, while the broader Topix index lost 0.62 per cent, or 11.89 points, to 1,891.19.

The S&P 500 and Nasdaq finished at their highest levels in a month on Friday, with shares of JPMorgan Chase and other banks rising following their quarterly results, which kicked off the earnings season.

Oil prices dipped in early Asian trade on Monday, but held close to the highest levels since the start of the year on optimism that China’s reopening will lift fuel demand at the world’s top crude importer. Brent crude fell 36 cents, or 0.4%, to $84.92 a barrel by 0116 GMT while US West Texas Intermediate crude was at $79.65 a barrel, down 21 cents, or 0.3%, amid thin trade during a U.S. public holiday.

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