Wednesday, 13 January 2021
Stock market LIVE updates: The Nifty futures on the Singaporean exchange, up 35 points, at 7:30 AM, were signaling a positive start for the Indian markets on Wednesday. The Nifty50 crossed the psychological level of 14,500 for the first time ever in the previous session, while the S&P BSE Sensex will eye the landmark 50,000-mark today.
Q3FY21 earnings, macro data and stock-specific developments too may sway the market mood today.
Infosys, Wipro, Amtek Auto, GTPL Hathaway and six other firms are slated to release their Q3 numbers today.
Lead by the ramp-up of Vanguard deal, incremental revenue contribution from acquisitions and strong growth momentum in key verticals, analysts expect IT bellwether Infosys to post a 9-10 per cent year-on-year (YoY) growth in its revenue (in rupee terms) for the quarter ended December 2020 (Q3FY21).
Meanwhile, Wipro may post decent revenue growth, minimum-to-no impact on EBIT margins and a 5-10 per cent year-on-year (YoY) jump in its net profit for the October-December quarter (Q3FY21).
Wall Street fluctuated not far from its record highs. The Dow rose 0.19%, the S&P 500 gained 0.04% and the Nasdaq Composite added 0.28%.
Tracking modest gains from US markets, Asian shares opened mostly higher as investors bet on economic recovery. Japan’s Nikkei 225 rose 0.11%, Australia’s S&P/ASX 200 shed 0.1% and South Korea’s KOSPI jumped 0.64%.