In the morning trade, the critical equity benchmarks traded with decent gains. Nifty is trading above the 18,150 level. IT, banking and auto stocks rose, while real estate and healthcare lagged. The barometer S&P BSE Sensex rose 236.24 points or 0.39% to 61,177.91. The Nifty 50 gained 62.45 points or 0.34% to 18,181. Among other stocks are top gainers are Infosys (up 1%), Asian Paints (up 0.72%), Bajaj Finserv (up 0.68%), IndusInd Bank (up 0.83%) and Wipro (up 0.64%)

On the other hand, following the Nifty loser are  Power Grid Corp (down 0.51%), Bharti Airtel (down 0.61%), Grasim (down 0.50%), JSW Steel (down 0.37%) and SBI Life (down 0.42%).

In the broader market, the S&P BSE Mid-Cap index gained 0.13%, while the S&P BSE Small-Cap index went up 0.41%. On the BSE, 1,779 shares rose, 801 shares went down, and 121 shares remained the same.

Axis Bank shed 0.55%, and the net profit of private lenders surged 61.94% to Rs 5,853.07 crore on a 27.44% increase in total income to Rs 26,891.87 crore in October-December of FY23 over October-December of FY22.

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• Tata Steel Outlook for the Week (April 29, 2024 – May 03, 2024)
• PFC Outlook for the Week (April 29, 2024 – May 03, 2024)
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Tata Motors rose 1.79%. This follows the company’s Form 25 filing with the US Securities and Exchange Commission on January 13, 2023.

Poonawalla Fincorp jumped 5.29%. On a consolidated basis, the NBFC reported a 44.2% rise in net interest income to Rs 482 crore on an 89.1% rise in profit after tax to Rs 182 crore in October-December of FY23 over October-December of FY22.

Asian markets were higher, January 24, 2023, as investor confidence surged ahead of the Lunar New Year. China has lifted strict restrictions on the new crown epidemic and raised hopes that an end to interest rate hikes may finally be in sight.