Share Market

Shares climbed on Tuesday but broader gains were limited as investors hedged

Investors were cautious ahead of corporate results leading to shares climbing but remaining constrained as well.

Investors were cautious ahead of corporate results leading to shares climbing but remaining constrained as well. Some of the bigwigs that are to submit their corporate results this week includes Tata Consultancy Services Ltd heavyweight Reliance Industries. The July-September earnings are crucial and will be closely analyzed to determine whether the current high valuations hold ground after a record-setting rally this year.

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Shares climbed on Tuesday but broader gains were limited as investors hedged their bets before corporate results kick in this week. Software bellwether Tata Consultancy Services Ltd reports on Thursday and index heavyweight Reliance Industries on Friday. The July-September earnings will be viewed as a gauge to determine whether the current high valuations hold ground after a record-setting rally this year. “Going ahead, earnings revival is absolutely critical for the current market valuations to sustain. Any disappointment can impact market sentiment given that second quarters are generally cyclical and could be impacted by factors like monsoon,” said Teena Virmani, vice-president, Kotak Securities. Here are the latest updates from the markets: ■ 12.19am: Shares of South Indian Bank Ltd fell 6.08% to Rs30.10 after the company announced its Q2 profit fell 96.1%, reported Reuters. The bank’s September quarter net profit Rs4.32 crore, compared to Rs111 crore a year ago. ■ 11.58am: BSE Sensex was trading higher by 95.71 points, or 0.30%, to 31,942.60, while the Nifty 50 gained 27.30 points, or 0.27%, to 10,016.05. ■ 11.55am: Lupin, Reliance Industries, Infosys and PowerGrid were top gainers with gains to the tune of 2.18%, 1.57%, 1.34% and 1.29%. Shares of Tata Steel and Hindustan Unilever shares fell 0.85% and 0.68%.
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With assembly election ahead With assembly election ahead, well known Digital Media platform clipper28.com has decided to gauge the mood of Chhattisgarh through its own opinion poll. As an aware voter and stakeholder of the democratic process, kindly do answer the following questions so that prevailing mood of state can be ascertained.
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