Frontline indexes extended gains in midday trade, supported by positive support from global peers. The BSE Sensex rose 908 points to 58,109, while the NSE Nifty gained 17,370 points, up 268 points. Tech M was the top gainer in the Sensex, up 4.5%, followed by Dr Reddy’s, up more than 3%, on the back of strong third-quarter results. It was followed by IT giants Wipro, Infosys and heavyweight RIL, up 2.5-3%. BPCL is an additional gainer for Nifty, beating its earnings by nearly 4%.
In broader markets, the BSE midcap index outperformed its benchmark, rising 1.5%. Of this group, InfoEdge, Mindtree, UBL, Jubilant Foo, Canara Bank, India Hotels, AU Small Finance Bank and Godrej Properties were the top gainers, rising between 4-7%.

InfoEdge rose 7% among mid-cap stocks on the back of strong third-quarter results. The company posted a standalone net profit of Rs 1,332.5 crore, up 90.7% from Rs 698.7 crore in the third quarter of fiscal 2021. Its net sales rose 48.1% year-on-year to Rs 4,032.6 crore in the quarter.

Likewise, recently listed company Chemplast Sanmar traded 17% higher after the chemical company posted a 48% rise in consolidated PAT to Rs 236.86 crore in the December quarter on revenue of Rs 1,431.68 crore.

Elsewhere in Asia, markets were mostly higher after a strong overnight performance on Wall Street. Japan’s Nikkei 225 rose 1%, while Hong Kong’s Hang Seng also rose 1%. South Korea’s Kospi also rose 1.87%.

Complete News Source : Business Standard