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MARKET LIVE: Steady start likely ahead of WPI data; HDFC Bk, Wipro in focus

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Stock market LIVE updates: Domestic markets are eyeing a flato-to-positive start on Monday amid mixed global cues. At 7:45 AM, SGX Nifty was up 37 points at 18,075.

Initial market moves will be guided my investors’ reaction to Wipro and HDFC Bank’s December quarter (Q3FY23) results.

Wipro reported a consolidated net profit of Rs 3,052 crore for October-December FY23, an increase of 2.8 per cent year-on-year (YoY). Consolidated revenue grew 14.35 per cent to Rs 23,229 crore.

HDFC Bank, on th other hand, reported an 18.5 per cent increase in its standalone net profit at Rs 12,259.5 crore for Q3FY23. NII registered a growth of 24.6 per cent on-year to Rs 22,987 crore. 

Later, wholesale inflation data for the month of December will provide further direction to the markets.

Global cues
The US markets ended at the highest point for the month last week as easing inflation stoked hopes of a slowdown in the pace of US rate hikes. Tonight, the markets will be shut for Martin Luther King Jr. Day.

Closer home, Nikkei was down a per cent ahead of the Bank of Japan’s two-day monetary policy meeting, which begins on Tuesday. Other major peers gained around 0.5 per cent.

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