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Indian shares end higher as firmer metals offset slide in Wipro, banks

01/13/2022 | 05:36am EDT

BENGALURU, Jan 13 (Reuters) - Indian shares eked out gains in a choppy session on Thursday as a jump in metal and energy stocks helped offset losses in IT major Wipro and private sector banks.

The blue-chip NSE Nifty 50 index closed up 0.25% at 18,257.80 and the benchmark S&P BSE Sensex ended 0.14% higher at 61,235.30.

Both indexes have clocked gains for five straight sessions and are up more than 5% this year.

"We had a good run in the lead up to IT results, and investors are now reviewing things; as more earnings come in, moves are going to be reactionary instead of (being) proactive," said Anand James, chief market strategist at Geojit Financial Services.

The Nifty metal index gained a second straight day, adding 3.5%, on the back of firm commodity prices in the global market.

Shares in Tata Steel and JSW Steel rose 6.5% and 4.7%, respectively, and were the top gainers on the Nifty 50 index.

The Nifty energy index extended gains for a fifth session, closing 1.2% higher.

Tech giants Infosys and Tata Consultancy Services closed up around 1% each, a day after Infosys lifted its full-year revenue outlook and TCS reported a 12.3% rise in quarterly profit.

However, rival IT firm Wipro lost 6%, the most on the Nifty, after posting a near-flat net profit.

Private sector lenders HDFC Bank and Kotak Mahindra Bank slipped more than 1% each and were among the top losers on the blue-chip index.

Tata Motors settled up 1% after falling as much as 1.6% earlier in the session, while Nazara Technologies closed up 3% after it said its unit will buy retailer Superhero Brands.

Meanwhile, India recorded 247,417 new COVID-19 cases, the most since late May. (Reporting by Chandini Monnappa in Bengaluru; editing by Uttaresh.V and Ramakrishnan M.)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
COAL INDIA LIMITED -0.76% 181.85 Delayed Quote.25.47%
HDFC BANK LIMITED 1.85% 1392.05 Delayed Quote.-7.62%
INFOSYS LIMITED 2.63% 1461.35 Delayed Quote.-24.57%
JSW STEEL LIMITED -0.54% 548.65 End-of-day quote.-16.35%
KOTAK MAHINDRA BANK LIMITED 1.97% 1946.25 End-of-day quote.8.35%
NAZARA TECHNOLOGIES LIMITED -0.98% 1167.35 End-of-day quote.-49.11%
NIFTY 50 1.13% 16352.45 Delayed Quote.-6.82%
SENSEX 30 1.17% 54884.66 Real-time Quote.-5.78%
TATA CONSULTANCY SERVICES LTD. 1.06% 3261.3 Delayed Quote.-13.68%
TATA MOTORS LIMITED 2.12% 429.6 End-of-day quote.-10.94%
TATA STEEL LIMITED -0.81% 1043.35 End-of-day quote.-6.13%
WIPRO LIMITED 2.98% 466.95 End-of-day quote.-34.71%
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