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Sensex, Nifty Trim Early Gains As Metals Weigh: 10 Things To Know

Top gainers on the 50-scrip index were Infosys, TCS, Axis Bank and Tata Motors, trading between 1.1 per cent and 2 per cent higher.

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Sensex, Nifty Trim Early Gains As Metals Weigh: 10 Things To Know

Buying in information technology stocks pushed the markets higher in early trade

Domestic stock markets started Wednesday's session on a strong note tracking gains in Asian peers on hopes of a US-China trade deal. The Sensex jumped as much as 269 points to touch 36,250, while the Nifty advanced 68 points to 10,870, supported by buying in information technology stocks. Sharp losses in metal stocks in afternoon limited the upside. Analysts awaited key corporate earnings due this week for cues.
Here are 10 things to know:
  1. At 12:46 pm, the Sensex was trading 194 points higher at 36,175, and the Nifty was up 38 points at 10,840.
  2. Top gainers on the 50-scrip index were Axis Bank, Wipro, Eicher Motors Indiabulls Housing Finance and Tata Motors, trading between 1.19 per cent and 1.77 per cent higher.
  3. The Nifty IT - comprising technology stocks - jumped as much as 1.5 per cent in morning.
  4. Infosys shares jumped nearly 3 per cent to hit an intraday high of Rs 689.80 by then, a day after the IT major said its board will consider a share buyback and a special dividend in its meeting on January 11.
  5. Analysts say investors will closely watch the key corporate earnings due this week for domestic cues.
  6. TCS and Infosys will report their financial results for the October-December period on Thursday and Friday respectively. 
  7. Domestic equity markets tracked across Asian peers, where increasing optimism that China and the US will be able to hammer out a deal to help ease their trade war provided the impetus for more gains. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1.5 per cent after China-US trade talks in Beijing were extended for an unscheduled third day, suggesting some progress was being made.
  8. The mood among dealers has improved markedly this week as officials from China and the US hunker down for trade negotiations in Beijing that have extended into a third day. US President Donald Trump on Tuesday described them as going "very well", news agency AFP reported.
  9. The Sensex ended a choppy trading session on Tuesday 130 points - or 0.4 per cent - higher at 35,980, while the Nifty rose 30 points to 10,802.
  10. Meanwhile, the rupee edged higher to 70.14 against the dollar in early trade, as against its previous close of 70.20. The currency is forecast to weaken to 71.50 per dollar in a year, according to a poll by news agency Reuters.

(With agency inputs)





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