Sensex Zooms 651 Points, Nifty Ends Above 18,000-Mark; UPL, Titan & Hero MotoCorp Top Gainers

Indian share markets witnessed volatile trading activity throughout the day today and ended on a strong note.

Benchmark indices registered sharp gains amid expectations of strong earnings from the initial batch of companies this week. Hopes of a delay in US Fed rate hikes following disappointing US jobs data last week also helped the market log gains.

The Sensex touched an intra-day high of 60,427 today. Meanwhile, the NSE Nifty reclaimed its crucial 18,000-mark on a closing basis.

At the closing bell, the BSE Sensex stood higher by 651 points (up 1.1%).

Meanwhile, the NSE Nifty closed higher by 191 points (up 1.1%).

UPL and Hero MotoCorp were among the top gainers today.

Wipro and Nestle India, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,054, up by 197 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.7% and 1.2%, respectively.

Sectoral indices ended on a positive note with stocks in the engineering sector, realty sector and banking sector witnessing buying interest.

Shares of KPIT Technologies and Sunteck Realty hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng and the Shanghai Composite ended up by 1.1% and 0.4%, respectively. The Nikkei ended on a flat note in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading up by 20 points.

The rupee is trading at 74.04 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 47,410 per 10 grams.

In news from the metal sector, Tata Steel was among the top buzzing stocks today.

Tata Steel said that the crude steel production of the India business increased by 4.3% to 4.8 million tons in quarter three of the fiscal 2022 from 4.6 metric ton (MT) in the same period last year.

Delivery volumes of Tata Steel India fell by 5.2% year on year (YoY) to 4.4 MT in the third quarter.

During the December 2022 quarter, crude steel production was up 1.5% quarter on quarter (QoQ) while overall deliveries were lower by 4% QoQ as an increase in domestic deliveries was offset by lower exports.

Tata Steel Europe recorded crude steel production of 2.6 MT (down 1.2% YoY) and delivery volumes of 2.2 MT (up 1.9% YoY) in quarter three.

During the quarter, crude steel production and deliveries remained broadly similar on QoQ basis amidst supply chain issues in steel-consuming sectors including chip shortages faced by the automotive sector.

Separately, Tata Steel said that the company's equity stake in Medica TS Hospital (MTSHPL) has increased from 26% to 51% on 7 January 2022.

Medica TS Hospital is a joint venture company between Tata Steel and Medica Hospitals.

Tata Steel is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum.

Tata Steel's share price ended the day up by 0.7% on the BSE.

Moving on to news from the telecom sector...

GTPL Hathway Soars After Tie-up with Aprecomm

GTPL Hathway rose 11.3% to Rs 299.5 after the company said it partnered with Aprecomm to bring innovation to customer experience with network intelligence.

The company announced an investment in innovative technology to remotely optimize its residential Wi-Fi connections through a partnership with Aprecomm.

Aprecomm offers cloud-based automated solutions to enhance Wi-Fi performance. Its patented technology helps in automatically and proactively troubleshooting Wi-Fi issues.

The unique artificial intelligence (AI) technology will help GTPL bring down the customer issue resolution time and enhance the customer experience on its network of more than 7 lakh connected broadband households.

Aprecomm's AI engine allows GTPL to convert its household connections to AI enabled smart Wi-Fi access points.

Additionally, the technology offers proactive monitoring and measuring of the wireless experience of the connected devices and provides real-time insights to improve the reliability and performance of the network.

Speaking on the development, Anirudhsinh Jadeja, managing director, GTPL Hathway, said:

The partnership with Aprecomm will aid us in our efforts to ensure the best experience for our broadband consumers with a faster and proactive resolution of potential issues.

The measurable improvements offered by the integration between GTPL and Aprecomm also lead to lower maintenance costs and improved customer satisfaction for one of the country's fastest growing ISPs.

GTPL Hathway's share price ended the day up by 7.6% on the BSE.

Speaking of stocks, here is an illustration of the four phases that stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these stages.

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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