Benchmark indices traded higher on heavy buying in realty stocks amid firm European cues. However, caution prevailed ahead of the corporate results season which begins this week. Tata Consultancy Services is due to post December-quarter results on Thursday, followed by Infosys on Friday. Nifty ended the session to close at 10646.90.Realty shares were the major gainers of the day while Media shares were the major gainers of the day.
Global Markets Update
Britain’s biggest supermarket group Tesco was the best performer over Christmas, with a 3.1 percent rise in sales in the past 12 weeks beating its “big four” rivals Sainsbury’s, Asda and Morrisons.
Japan’s Nikkei share average hit a 26-year high helped by gains on Wall Street during a Japanese holiday, while index heavyweight Fast Retailing soared on strong December sales
Share price of Coal India gains as the company has revised non-coking coal prices. The company is it meeting held on January 8 has approved revision of non-coking coal prices effective from January 9. The revised prices would be applicable to all subsidiaries of Coal India including NEC (North Eastern Coalfields).
NMDC announced that the government is selling up to 4,74,58,357 shares to non-retail investors and retail investors (and for non-retail investors who choose to carry forward their un-allotted bids) on Thursday with an option to additionally sell up to 4,74,58,357 shares. The floor price of the offer shall be Rs153.50 per share.
Tata Motors stock in focus today as Jaguar Land Rover sales rose 7% to a record 621,109 vehicles in 2017 but warned it faces tough conditions in its home market due to weakening consumer confidence and a planned diesel tax hike on new cars.
Apollo Tyres announced setting up of a new manufacturing facility in Andhra Pradesh (AP). The facility will have the capacity to manufacture 5.5mn passenger vehicle (PV) tyres per annum in the first phase and the first tyre from this facility will be rolled out after 2 years from the start of construction.
European stocks climbed for a fifth session on Tuesday, as upbeat German economic data and a major strategic move by French telecoms and cable group Altice NV cheered investors. Equities in the region stayed around their highest levels since 2015.
Asian markets closed mostly higher on Tuesday after a somewhat quiet session on Wall Street. Investors in the region also digested earnings guidance from tech heavyweight Samsung Electronics and kept an eye on developments from inter-Korea talks.
Indonesia stocks were lower after the close on Tuesday, as losses in the Miscellaneous Industry, Infrastructure and Consumer Industry sectors led shares lower.
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