business

Live: Nifty sets sight on 22,000; IT poised for more upside post Q3?| Tata Consumer, DMart in focus

Indian equity benchmarks saw a sharp surge on Friday led by a solid rally in the technology pack. The Nifty 50 hit a new high after eight days of consolidation and closed just a tad below 21,900 levels. Given the strong momentum in the bulls camp, the index is likely to climb the much-awaited psychological 22,000 mark soon with support at 21,750-21,600 levels, but might get pressure from bears at 22,000, experts said. On January 12, the benchmark indices ended at a new record closing high with the BSE Sensex rising 847 points to 72,568, while the Nifty 50 surged 247 points or 1.14 percent to 21,895. This morning global cues are mixed ahead of China GDP and Japan Inflation data slated for this week. The Nikkei is extending its record run and the GIFT Nifty hints at a fresh record above the 22,000 mark. IT shares saw a solid surge as Q3 earnings point to optimism but is the good news already priced in? Also among stocks in focus today are Tata Consumer, DMart & Aditya Birla Money. Catch Nandita Khemka in conversation with Jay Patel, Research Head-Investmentor Securities and Apurva Prasad-- Vice President - Institutional Research, HDFC Securities

first published: Jan 15, 2024 08:40 am