MARKET LIVE: Global cues to guide indices; TCS, Tata Motors in focus

By On Jan 10, 2023

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: After jumpig over 1 per cent on Monday, amid buying in IT stocks, key benchmark indices are expected to cool off on Tuesday. At 07:50 AM, the SGX Nifty January futures quoted at 18,145, down about 30 points.

Globally, Wall Street ended sharply off highs overnight. The Dow Jones fell 0.34 per cent, the S&P 500 lost 0.08 per cent, and the Nasdaq Composite added 0.63 per cent.

Investors are waiting for US Fed chairman Jerome Powell’s speech at a central banking conference in Sweden, later tonight, just two days prior to the release of inflation report.

Nearer home, Japan’s Nikkei 225 rose 1.08 per cent, Australia’s S&P/ASX 200 fell 0.19 per cent, while South Korea’s Kospi was flat this morning.

Stocks to watch today

TCS: The IT major reported a strong Q3 performance. The net profit rose 11 per cent YoY to Rs 10,846 crore, while revenue for the quarter came in at Rs 58,229 crore, up 19.1 per cent YoY in reported terms and 13.5 per cent YoY in constant currency terms.

IDBI Bank: According to Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey, the government will soon notify the exemption period for meeting the public-shareholding norm for the prospective owner of IDBI Bank. READ MORE

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