Indian benchmark indices ended higher in the volatile session on January 11 led by the IT, power, realty stocks.
At close, the Sensex was up 221.26 points or 0.37% at 60616.89, and the Nifty was up 52.50 points or 0.29% at 18055.80. About 1757 shares have advanced, 1481 shares declined, and 55 shares are unchanged.
HCL Technologies, Adani Ports, ONGC, HDFC and Tech Mahindra were among the top Nifty gainers. Losers were JSW Steel, Tata Steel, BPCL, Hindalco Industries and Coal India.
Among sectors, the metal index fell over 2 percent, while buying was seen in the IT, power, oil & gas and realty stocks. The BSE midcap and smallcap indices ended flat.
Research firm Morgan Stanley has kept an overweight call on DLF with a target at Rs 470 per share.
The company has launched its luxury housing project ‘one midtown’ in West Delhi. The project is a 50:50 joint development with the sovereign fund, GIC.
It estimates Rs 4,200-4,500 crore revenue potential from the West Delhi project, however, channel checks suggest that the customer response has been good.
DLF was quoting at Rs 408.75, up to Rs 0.95, or 0.23 percent on the BSE.
Shares of PVR and Inox Leisure, the biggest operators of movie theatres in Mumbai, rose nearly 4 percent and 2 percent, respectively, after a member of the Maharashtra COVID-19 task force said that the surge in daily cases in the city was likely flattening.
Mumbai reported 13,648 cases on Monday, a sharp drop from the near 20,000 cases on Friday. The city is expected to report a further decline in daily COVID-19 cases today suggesting that the Omicron variant-led surge may be peaking. Analysts suggested that the peaking of cases in Mumbai is a good development for theatre-owners as it could result in the easing of restrictions that the city had placed recently to contain the virus.
