Sensex, Nifty touch new high; Infosys, Kotak Mahindra Bank in focus today

The Dalal Street opened on a positive note today, with both Sensex and Nifty touching a new high ahead of CPI and IIP data announcement along with the commencement of corporate earnings for Q3FY18.
 
At around 0940 hours, Sensex was trading at 34,615.31 higher by 111.82 points or 0.32%, while Nifty50 surged by 26.40 points or 0.25% trading at 10,677.60.

 
On Friday, the 31-scrip index touched a new high 34638.42, while the 51-scrip index also rose at 10,689.10.

 
In regards to Nifty, Motilal Oswal said, “Now index needs to hold above 10,550-10,600 zones to extend its up move towards 10,700, while on the downside supports are seen at 10,500 and 10,450 levels.”
 
The Central Statistics Office will be announcing the Consumer Price Index (CPI) inflation data for December 2017, and Index for Industrial Production (IIP) numbers for November 2017, today.
 
Also, third quarter earning season of FY18 has begun with announcement of major companies like Tata Consultancy Services (TCS) and IndusInd Bank on Thursday.
 
Motilal Oswal said, “Among the results both TCS and IndusInd were broadly in line with market expectations. IndusInd however saw marginal increase in NPAs leading the stock to decline in trade yesterday.”
 
The share price of TCS emerged as top loser and tumbled by Rs 29.35 or 1.05% on the BSE, trading at Rs 2,759.05 per piece, after when the company's consolidated net profit dropped by 3.94% on yearly basis to Rs 6,545 crore in Q3FY18.
 
However, share price of IndusInd Bank, after touching the day's high of Rs 1,717.90 per piece, was trading after few minutes on a flat note on the BSE at Rs 1,699.30 per piece.
 
Infosys and Kotak Mahindra Bank are set to present their December 2017 quarter result on Friday, so their stock prices would be in focus.
 
After touching a day's high of Rs 1,089 per piece, investors were not really optimistic on the share price of Infosys, as the company was trading at Rs 1,076.50 per piece gradually higher by 0.08% on the BSE.
 
Similar was the case for Kotak Mahindra Bank, which was trading at Rs 1,022.70 per piece up by 0.48% on the BSE, after clocking day's high of Rs 1,025 per piece.
 
Moreover, gainers on the BSE involved ICICI Bank at Rs 312.75 per piece, up 1.07%, followed by Wipro at Rs 323.15 per piece, up 0.65%, Larsen & Toubro at Rs 1,328.50 per piece, up 0.58%, Tata Motors at Rs 436.80 per piece, up 0.54%, and Reliance Industries at Rs 941.90 per piece, up 0.50%.
 
Losers involved, apart from TCS on the BSE, were Power Grid at Rs 197.50 per piece, Yes Bank at Rs 341.55 per piece, Bharti Airtel at Rs 513.65 per piece, Asian Paints at Rs 1,188.80 per piece and Sun Pharma at Rs 588.80 per piece trading negative in the range of 0.01% - 1%.
 
Meanwhile, Indian Rupee was trading negative at 63.605 down by 0.077 paisa or 0.12% against US dollar.
 
The global markets also were positive with asian stocks resuming their ascent, supported by US earnings optimism and a rise in oil prices while the euro edged higher as the European Central Bank signalled an end to its massive stimulus.
 
MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.5%, following two straight sessions of decline. Japan`s Nikkei dipped 0.1%.