MARKET LIVE: Stock-specific action to guide indices; TaMo, Infosys in focus

MARKET LIVE: Stock-specific action to guide indices; TaMo, Infosys in focus


LIVE market updates: Stock-specific activity will remain high on D-Street on Wednesday as earnings season gains momentum, with IT stocks set to hog the bulk of the limelight.

Infosys, Wipro and thirteen other firms, including Mintree, Birlasoft and AB Money will also post their numbers today.

Analysts expect a near 20 per cent year-on-year jump in revenue for in the recently concluded quarter. Revenue guidance is likely to be upped for the third time in a row. READ HERE

As for Wipro, revenue projections range between 25 per cent and 29 per cent on yearly basis. Revenue growth, analysts say, will be driven by the ramp-up of large deals along with contribution from Capco and Ampion acquisitions. READ HERE

That apart, investors may also positively react to CPI print and IIP data that came in slightly better than market expectations. Besides, IMF expects India to grow at 9.5 per cent in 2021 and at 8.5 per cent in 2022.

Global cues

Asian stocks were mixed, with Japan’s Topix index down 0.3 per cent while Australia’s S&P/ASX 200 Index added 0.1 per cent and South Korea’s Kospi rose 1.1 per cent. SGX Nifty, meanwhile, was up 51 points at 18,056 levels at 8:10 AM.

In contrast, Dow Jones declined 0.34 per cent, S&P500 lost 0.24 per cent and Nasdaq Composite shed 0.14 per cent in the overnight session as investors grew more jittery in the run-up to third-quarter earnings

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