NIFTY50 and SENSEX close higher in a volatile session, Reliance Industries closes above 2,700 level for the first time; Stock Market LIVE Updates

1. Domestic tech stocks continue to witness strong buying traction. The possibility of rate cuts have given a boost to shares of tech companies.

2. Indian markets are taking cues from the global markets. Key Asian indices like Nikkei 225 and Hang Seng have been trading in the green today.

3. The retail inflation in India stood at 5.6%, which is lower than the RBI’s target of 6%.

4. The US bond yields continue to decline. The 10-year US treasury yields are currently below 4% amid easing inflation pressures.

Thank you, readers! That's all from Upstox.com's live market coverage on 11 January 2024. We’ll be back with our live coverage at 8:00 am on Friday.

• Long build up: Hero MotoCorp, Reliance, BPCL, Axis Bank, UltraTech Cement

• Short build up: Dr Reddy, SBI Life, Hindustan Unilever, Wipro, L&T

The NIFTY Financial Services (+0.1%) index closed higher today, with Shriram Finance (+5.6%) and HDFC AMC (+2.4%) being the top gainers, while SBI Life (-1.4%) and HDFC Bank (-0.4%) being the top losers.

The NIFTY Midcap 100 index (+0.4%) closed higher today. Meanwhile, NIFTY Smallcap 100 Index (+0.5%) closed in the green today.

The BANK NIFTY (+0.1%) index closed in the green. Gains in Axis Bank (+1.6%), IndusInd Bank (+1.2%) and IDFC First (+3.2%) supported the index.

India benchmark indices – NIFTY50 (+0.2%) and SENSEX (+0.09%) – closed higher for the third consecutive day. Out of the NIFTY50 universe, 25 stocks made gains. On the sectoral front, Oil & Gas and Auto were the top gainers.

• HDFC AMC reported a 32.6% YoY rise in Q3 net profit to ₹489.7 crore for the December quarter. Meanwhile, its standalone total income grew 22.8% YoY to ₹813.7 crore.

• The company’s Q3 result has beat the market estimates. Following the robust result announcement, the company’s share rose 2.4% intraday, with a day high of ₹3,542 per share.

Shares of Reliance Industries rose for the second straight day, rising 2.7% intraday with a day high of ₹2,722 per share. The company’s stock saw strong traction from investors as it crossed ₹2,700 levels for the first time.

NIFTY Oil & Gas index was amongst top gainers today. This rise was supported by gains in stocks like Reliance Industries (+2.6%), HPCL (+3.5%), Indian Oil Corporation (+1.9%), BPCL (+1.6%)