Sensex Above 53,000, Infosys & Smallcaps Shine

The D-Street opened higher on back of a strong kickoff of the Q1FY22 and firm Asian markets. The BSE Sensex opened higher by 115.42 points  at 53019.47, and the key index Nifty-50 added 9.50 points at 15863.50.

Shares of Infosys, L&T, and HCL Tech were the top gainers in the 30-share pack Sensex during the morning trade as they advanced nearly a per cent each. The overall index marked gains in 17 scrips, while 13 stocks traded in the red.

Except for Auto, FMCG, and Energy, all other sectors witnessed buying interest during the morning deals. The IT sector stood as the top performer at the market opening after better than expected Q1 results of giants like Infosys.

Among the broader markets, the BSE Smallcap index continued its upward momentum to trade at fresh record highs. The index marked a new high of 26,422.78 led by shares of Datamatics(+15.25 per cent), L&T Technology (+13.57 per cent), and JTEKT India(+10.70 per cent).

Moving ahead, experts feel that expect earnings momentum is likely to accelerate in FY22 as the pace of vaccinations picks up and the economy opens up further. Consistent earnings delivery v/s expectations are critical for further outperformance.

In the overall market breadth at the time of filing, around 1086 shares advance and 614 shares declined in the NSE.