Stock Market Highlights: Sensex ends 221 points higher, Nifty tops 18,050; Vodafone Idea tumbles 21%

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TCS, Infosys, Wipro to report Q3 numbers on Wednesday

India Inc will kick off the quarterly earnings season on Wednesday. IT majors TCS, Infosys and Wipro will post their financial results for the October-December period.

Analysts expect Tata Consultancy Services' dollar revenue to increase more than two percent sequentially. (Here's what to expect from TCS, Infosys, Wipro's Q3 earnings reports)

Technical Picks | IRCTC, Concor, Century Textiles, Apollo Hospitals and other stocks analysts suggest buying now

Headline indices are once again inching towards the all-time highs of October 2021. Analysts have handpicked a few bets to make use of the current juncture on Dalal Street. (Check out the complete list of stocks analysts recommend now)

Positive Q3 earnings expectations, global cues to drive market: Equity99's Rahul Sharma

Rahul Sharma of Equity99 believes the market is expected to give good returns in coming days given the positive expectations of Q3 results and positive global cues. Traders are advised to ride the current rally with strict stop losses to their positions, he said. 

Sharma expects the level of 17,915 to act as major support for the Nifty, which, if broken, might be followed by 17,850. On the upper side, 18,120 will act as very strong resistance, which, if crossed, would take the index to 18,200, he said. 

He expects banking, auto, IT and realty shares to be in focus on Dalal Street now. 

Positive on IT, real estate, consumer goods: Sandeep Shah

Sandeep Shah, Associate Director of Motilal Oswal Private Wealth Management, remains positive on IT stocks. "On commercial real estate, IT already buys about 50 percent of the space there incrementally; about a quarter of residential real estate is bought by IT employees. So I think that's really a big huge move and it is not just restricted to there. I think that's going to be a great play," he said. 

"Real estate is a very significant and important part of the economy and even though there may be fewer companies that are capital efficient to give the nature of the business or where corporate governance standards have improved dramatically, and I think that real estate could be another very interesting space. I think we are headed for a capex revival. From that perspective, capital goods should also do very well. But of course, you have got to be specific there," he said.

Rupee ends higher at 73.90 against US dollar

The rupee appreciated by 14 paise to settle at 73.90 against the greenback. 

Market At Close | IT stocks rise ahead of TCS, Infosys, Wipro Q3 numbers on Wednesday

Here are some highlights: 

--Sensex, Nifty50 gain for 3rd straight day led by IT, financial stocks

--Metal stocks fall after brokerage downgrade; Tata Steel, JSW fall 3%

--Nifty Bank up 94 points at 38,442; midcap index up 29 points at 31,400

--Adani group stocks rise; Adani Ports, Adani Enterprises up 4-6%

--Coforge rises 3% after Jefferies initiates coverage with Rs 7,400 target price 

--PVR gains 3% as states keep multiplex capacity at 50%

--Vodafone Idea tumbles 21% as government set to become single largest shareholder

--JSPL, SAIL, Nalco, Ramco, KPIT top midcap losers

--Motherson, Adani Enterprises, AU SFB, Trent, Tata Chemicals top midcap gainers

--Market breadth favours bulls; advance-decline ratio at 1:1

Market At Close | HCL Tech, Adani Ports, HDFC, Tech Mahindra top blue-chip gainers

ONGC, Divi's and TCS were also among top gainers. On the other hand, JSW Steel, Tata Steel, BPCL, Hindalco and Coal India were the worst hit among the 24 laggards in the Nifty50 pack. 

Here's how the 30-scrip pack fared:

Closing Bell | Sensex up 221 points at 60,617, Nifty50 reclaims 18,050

The 30-scrip index ended 221.3 points or 0.4 percent higher at 60,616.9 and the broader Nifty50 benchmark settled at 18,055.8, up 52.5 points or 0.3 percent from its previous close. Both indices closed higher for the third session in a row. (Read more on the closing bell)

HDFC, HCL Tech, Reliance Industries, TCS top Sensex movers

Infosys, HDFC Bank, Tech Mahindra and SBI were also among the biggest contributors to the gain in the 30-scrip index.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

LIC raises stake in Ramco Cements to 6.38% in Q3

The insurance major's shareholding in the cement maker had stood at 5.35% at the end of the second quarter of FY22. 

Ramco Cements was down 2.8 percent at Rs 1,022 apiece on BSE minutes before the closing bell.

Tata Steel, SAIL shares slip over 4%, JSW Steel stock down 2% as Jefferies turns cautious on metals stocks

Metal stocks were trading in the red on Tuesday with the sectoral gauge BSE Metal down over 2 percent during an otherwise positive sentiment in the stock market. Tata Steel, JSW Steel, SAIL and Jindal Steel were among the top laggards in the metal stocks pack on the BSE. Tata Steel stock slipped 4.7 percent to an intraday low of Rs 1,112.85. 

Motilal Oswal Financial Services On CNBC-TV18

We hope the government will build on the Budget. PLI scheme will lead to a significant manufacturing environment in the country. We continue to remain positive on it and are headed towards a capex revival. The real estate space looks promising on capex revival as well.

Adani Power appoints Shersingh Khyalia as CEO w.e.f January 11, 2022

Multiplex shares rise on hope of COVID cases falling in Mumbai

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 taskforce said that the surge in daily cases in the city was likely flattening.