BENGALURU, Jan 10 (Reuters) - Indian shares ended higher on
Monday, with the Nifty index hitting the 18,000 mark after
nearly two months, boosted by gains in public sector banks and
auto stocks ahead of quarterly earnings reports this week.
The blue-chip NSE Nifty 50 index ended up 1.07% at
18,003.30, levels it last scaled in mid-November, while the
benchmark S&P BSE Sensex closed 1.09% higher at
60,395.63. Both indexes logged their eighth session of gains in
All major Nifty sub-indexes settled higher, with the PSU
Banks index advancing the most with a 3.2% gain.
Nifty's Auto index added nearly 2%, led by 3.2%
jump in two-wheeler maker Hero MotoCorp.
The Nifty IT index index closed up 0.2%, as
investors turned their focus to top companies in the sector
kicking off third-quarter corporate earnings on Jan 12.
Tata Consultancy Services rose more than 3% after
the software heavyweight said it plans to consider a share
"The market expects Q3 results starting this week to be very
good, particularly for IT and financials," said VK Vijayakumar,
Chief Investment Strategist at Geojit Financial Services.
The Nifty realty index closed 1.9% higher, led
by a 11.5% surge in Sunteck Realty after it logged
sequential growth in quarterly pre-sales numbers.
Among losers, Paytm shares settled 6% lower after
brokerage Macquarie cut its target price on the digital payments
firm to 900 rupees per share from 1,200 rupees per share.
Meanwhile, India on Monday recorded 179,723 fresh COVID-19
infections and the country started administering booster vaccine
doses to frontline workers and vulnerable elderly people to
combat the fast-spreading Omicron variant.
Surging COVID-19 cases are being ignored by markets globally
as Omicron, though fast-spreading, is not virulent and
hospitalization cases are very low, Vijayakumar said.
(Reporting by Shivani Singh in Bengaluru; editing by
Uttaresh.V, Subhranshu Sahu and Ramakrishnan M.)