Sensex Up Over 100 Points, Nifty Above 8,400; HCL Tech Falls Post Q3

Sensex and Nifty edged higher in opening deals on Tuesday tracking gains in banking, oil & gas, power, capital goods and metal stocks amid subdued trading in other Asian markets. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent but Tokyo's Nikkei slipped 0.3 per cent.

Among Asian share markets, Hong Kong's Hang Seng was up 0.32 per cent, China's Shanghai Composite jumped 0.1 per cent and South Korea's KOSPI was down 0.16 per Cent.
Back home, analysts say traders are cautious ahead of the Union Budget 2017-18 which will be announced by the government on February 1 and will keep a close eye on how the government spends the money on various social and infrastructure projects.

Meanwhile, BSE's initial public offer -- the first by a domestic stock exchange in India -- to raise up to Rs 1,243 crore received 50 per cent subscriptions on the first day of the 3-day bidding on Monday.
The IPO, which closes on January 25, received bids for 54,30,204 shares as against the total issue size of 1,07,99,039, data available with NSE till 1700 hours showed.The portion set aside for qualified institutional buyers (QIBs) was subscribed 17 per cent and that of non-institutional investors 12 per cent. The retail investor category got 86 per cent bids.

On Dalal Street, buying was visible across the sectors barring a few IT and FMCG shares. Banks, metal, oil & gas and capital goods stocks were among the leading gainers in the morning deals.
From the Nifty basket of shares, 41 were advancing while 10 were declining.
Yes Bank was the top Nifty gainer, up 2 per cent at Rs 1,410. Coal India, Power Grid, Bharat Petroleum, Bank of Baroda, HDFC, IndusInd Bank, Axis Bank and ACC were also among the gainers.

On the other hand, HCL Technologies was the top Nifty loser, the stock fell 2.2 per cent to Rs 838 after company announced third quarter earnings. The company's net profit rose 2.3 per cent to Rs 2,062 crore in the December quarter.

Hindutan Unilever which reported a jump of 7 per cent in its net profit post market hours on Monday also declined in trading as its December quarter earnings came in below analysts' estimates.
Bharti Airtel, Infosys, Asian Paints and Hero MotoCorp were also among the laggards.
The broader markets were in-line with the benchmark indices as the BSE mid-cap and small-cap indices jumped 0.45 per cent each.