Stock Market Today: According to SGX Nifty, domestic equity indices are projected to open in the green. On Monday, the Singaporean exchange’s Nifty futures were up 129.5 points, or 0.72%, to 18088.5. The major indices finished the first week of 2023 with losses, with the NSE Nifty 50 sliding 132.70 points or 0.74% to 17859.45 on Friday and the BSE Sensex dropping 452.90 points or 0.75% to 59900.37. Nifty IT lost 2% and Nifty Bank fell 0.99% in the sectoral indices.
Stock Market Today: US stock indices ended broadly in green
In other Asian markets, the Shanghai Composite index in China was up 10.34 points or 0.33 at 3167.97, the Nikkei 225 in Japan was up 153.05 points or 0.59% at 25973.85, and Hong Kong’s Hang Seng was up 379.87 points or 1.81% at 21371.51. The Dow Jones Industrial Average (DJIA) increased 700.53 points or 2.13% to close on Friday at 33630.61; the S&P 500 increased 86.98 points or 2.28% to close on 3895.08; and the Nasdaq advanced 264.05 points or 2.56% to close on 10569.29.
TCS will announce its Q3 results today
Today, TCS will release its third quarter earnings. Brokerages predict that the company’s consolidated sales will likely expand by 16.4% on-year, and that its consolidated profit after tax (PAT) will rise by 15.1% on-year. The third interim dividend announcement from TCS will be one of the important items to keep an eye on.
GDP pegged at 7% by NSO
The first estimate for FY23 GDP growth from the NSO is 7.0% (> the RBI estimate of 6.8%), which suggests that following a fantastic print of 9.7% in H1FY23, growth will abruptly slow to 4.5% in H2FY23. The enormous nominal GDP growth forecast for FY23 is 15.4% (FY22: 19.5%), which corresponds to an estimated deflator of 8.4%.
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