Sensex And Nifty End On Modest Gains, Investors Wary Of Upcoming Inflation Number

Despite the markets opening up higher by taking cues from Asian markets, they could not keep up the momentum and ended on a modest note. As this week kick-starts with the announcement of Q4FY23 numbers, TCS, Infosys and HDFC to share the numbers along with inflation figure Investors are wary of the upcoming inflation data and are on sidelines.

Some of the leading brokerage have suggested that banks could clock a 45% year-on-year (YoY) earnings growth while its forecast for IT services' quarter-on-quarter (QoQ) revenue growth ranges from a decline of 2.1% to a growth of 2.3% across its coverage universe.

Well according to others as per media reports across sectors, there are at least 23 companies that are likely to report more than 100% YoY growth in profit during the quarter.

The Nifty ended marginally higher by 34.25 points (0.19%) at 17,633.40, while Sensex closed at 59,846.51, 13.54 points up (0.02%). There were 32 advances and 18 declines on Nify, meanwhile total 1099 stocks advanced and 988 stocks declined on NSE. On Sensex 17 stocks advanced and 13 declined.

Among the sectoral indices, Nifty Bank, Nifty Financial Services and Nifty Fmcg ended in red. Auto and IT sector indices gained the most by 1.18% and 0.96%.

Tata Motors was top gainer on both the indices on account of its strong sales figure announcement including JLR numbers. It rallied up by nearly 6%.

Wipro, Powergrid, Larsen and Toubro, and Mahindra and Mahindra were up by 1.79%, 1.71%, 1.51 and 1.46% were also among top gainers on Sensex. Meanwhile ONGC, Adani Enterprise, Grasim and Wipro stock prices surged by 3.98%, 2.45% 2.15% and 2.03% on NSE.

Stocks of Bajaj Finance (-1.72%), Hindustan Uniliver (-1.46%), Asian Paints (-1.19%), Tata Consumer (1.19%) and Indusind Bank (-1.11%) were the top losers on both the indices.