Opening Bell: HDFC twins, Infosys continue to batter Sensex, Nifty50; Mindtree falls over 1%

Infosys, on April 13, reported a disappointing set of earnings for the January-March period, post-market hours.

Dipan Mehta, Director, Elexir Equities said that HDFC Bank still continues to underperform but it's only a matter of time, and given a quarter or two the numbers will start to perk up.

"You may see the reversal of this trend, which we have seen in HDFC Bank. So as long term investors, we remain invested in HDFC Bank. And if you don't have it in your portfolio, then these corrective movements are great times to buy into HDFC Bank as well," he said.

In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, up to 0.97 percent. Among sectoral indices, Nifty Metals, Auto, PSBs and Energy packs - up 0.9 percent each - were the leading winners. Nifty FMCG, IT and Financials were subdued.

Mindtree opened in green but soon turned negative, falling 1.6 percent. The company's net profit jumped 49 percent YoY in Q4, while its revenue rose 37.4 percent to Rs 2,897 crore.

Manappuram Finance will also be in focus as the Reserve Bank of India (RBI) imposed a fine of over Rs 17 lakh on the NBFC for violating KYC guidelines as well as norms related to prepaid payment instruments.

Q4 results of ACC, L&T Infotech, Tata Steel Long and Mastek are slated to be announced today as well.

In Tuesday morning trade, shares in Asia-Pacific moved higher as investors awaited market reaction to China's central bank's announcement of financial support for COVID-affected sectors.

The Nikkei 225 in Japan jumped 1.11 percent in early trade while the Topix index gained 0.99 percent. South Korea’s Kospi climbed 0.72 percent. In Australia, the S&P/ASX 200 advanced 0.22 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.13 percent higher.

In a choppy trading day on Monday, Wall Street closed the day lower, while US Treasury yields soared as investors weighed strong earnings against the impact of Russia's invasion of Ukraine on global growth.