News

Published: Jan 14, 2023
Updated: Jan 14, 2023

Indian Stock Market Ends the Week on a Positive Note

Good data numbers help in maintaining positive sentiments

The Indian stock market closed the week on a positive note, with the BSE Sensex rising 360.81 points or 0.60 percent to end at 60,261.18, and the Nifty50 adding 97.15 points or 0.54 percent to end at 17,956.6 levels. Among Sensex stocks, Tata Consultancy Services (TCS) added the most in terms of market cap, followed by Infosys, HCL Technologies and Hindustan Unilever. On the other hand, Reliance Industries, Bharti Airtel and Titan Company lost the most of their market cap.

Q3 Results:

The Indian IT sector saw some positive results this week, with TCS, Wipro and Infosys announcing their Q3 results. TCS reported a 2.2% YoY rise in net profit, while Infosys saw a 2.2% YoY increase in net profit. Wipro, on the other hand, reported a 1.7% YoY rise in net profit. These results have been positively received by the market, and have contributed to the overall bullish sentiment.

US Inflation Data:

US inflation data, released on January 12th, remained as per expectations, with the Consumer Price Index (CPI) rising 0.4% in December 2020. This has led to a stable sentiment in the market, as investors are now looking towards the US Federal Reserve's policy decisions for further direction.

US FED decision to decide the next move

In conclusion, the Indian stock market ended the week on a positive note, with the BSE Sensex and Nifty50 closing at record high levels. The positive Q3 results announced by TCS, Wipro and Infosys have also contributed to the bullish sentiment in the market. However, foreign institutional investors (FIIs) continued to sell equities, and the market is now closely watching the US Federal Reserve's policy decisions for further direction. Overall, it was a good week for the Indian stock market