Benchmark stock market indices gained on Monday, fuelled by gains in banking and financial services stocks, which countered concerns over US policy framework under US President-elect Donald Trump.
The S&P BSE Sensex had jumped over 600 points in early trade. At 12:35 pm, the 30-share index was up 512.23 points to 77,131.56. The NSE Nifty50 was trading 130.35 points higher at 23,333.55.
WIPRO’S BETTER-THAN-EXPECTED Q3 PERFORMANCE….
- Wipro’s stock jumped as much as 8% in early trade to hit a day’s high of Rs 305.35.
- Wipro’s consolidated profit jumped 24% year-on-year (YoY) to Rs 3,354 crore and revenue from operations rose 0.5% to Rs 22,319 crore.
- The IT firm also declared a dividend of Rs 6 per share.
STOCK MARKETS IN ‘WAIT AND WATCH’ MODE
- Despite today’s gains, Dalal Street is likely to remain volatile as global stock markets will be in a wait and watch mode as Trump 2.0 unfolds today, said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
- “Many executive actions, particularly on immigration, are expected from the President starting from day one. Markets will wait and watch for the nature of the decisions and their likely impact,” Vijayakumat added.
- On the brighter side, he highlighted that the latest International Monetary Fund (IMF) report on Global Economic Outlook projected India to register a solid growth of 6.5% for 2025 and 2026 for India. “This is positive.”