Stock market LIVE updates: The Indian benchmark indices made a firm start on Monday, tracking similar positive cues from their Asian peers, although selling in index heavyweight Reliance Industries capped the gains.
The S&P BSE Sensex rose 300 points to 49,200 levels and the broader Nifty50 index was testing the 14,500-mark. UltraTech Cement climbed 3 per cent and was the top Sensex gainer, followed by HDFC, Axis Bank, and Bajaj Finance (all up 2%). On the other hand, Reliance Industries dipped 3 per cent post the announcement of its December quarter results. The conglomerate saw its profit jump 12.5 per cent to Rs 13,101 crore during the said quarter.
All the Nifty sectoral indices were painted green, led by Nifty Financial Services index, up 1.6 per cent
A total of 41 firms, including Larsen & Toubro, Aarti Drugs, and APL Apollo Tubes, are slated to announce their December quarter numbers today.
Analysts at HDFC Securities forecast a 71.5 per cent sequential growth in Larsen and Toubro’s consolidated net profit at Rs 1,980 crore for the quarter under review. READ MORE
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