Share markets in India have extended early gains and are presently trading on a strong note.
Benchmark indices firmed up in afternoon deals as global cues turned supportive.
However, global markets remain mixed and F&O expiry will likely keep volatility high on Indian markets.
Currently, the BSE Sensex is trading up by 691 points, up 1.2%, at 57,500 levels.
Meanwhile, the NSE Nifty rose above the 17,200-mark and is presently trading up by 204 points.
Shares of Asian Paints, HUL and L&T soared around 3-4% while ITC and Infosys added to the gains.
HCL Tech and Bharti Airtel, on the other hand, remain the only losers from Sensex.
Hindustan Unilever (HUL) shares surged 5% after the company beat street estimates on the earnings and volume front.
Broader markets are underperforming benchmarks today. The BSE Midcap and BSE Smallcap index are trading 0.2% and 0.1% higher.
Among individual stocks, Trent share price is in focus after the Tata group retail firm reported a consolidated net loss of Rs 208.7 m for the fourth quarter ended in March 2022.
This is against a net profit of Rs 174.4 m in the year ago period.
Meanwhile, Indian Hotels is also in focus and gained 5% on strong Q4 numbers. It reported a consolidated net profit of Rs 715.7 m in the March quarter against a consolidated net loss of Rs 977.2 m in the same period last year.
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Is it time to be cautious when it comes to smallcaps? Will smallcap stocks outperform in fiscal 2023?
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More details to follow in the upcoming commentary.
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