Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

With inline results from Infosys and better-than-expected results from TCS, IT stocks will see some action today. Even though there is no positive message from the management commentary, the market is likely to respond positively to the absence of any bad news. But the upside for TCS and Infy will be limited since it will take time for clarity to emerge on the prospects for the sector in FY25.

Resilience in IT stocks and strength in Reliance will enable Nifty to consolidate around 21600 levels. HDFC Bank results on January 16th will be keenly watched by the market for cues in the direction of Bank Nifty.

The U.S. CPI inflation inching up to 3.4% YoY is slightly negative from the global equity market perspective. The rate cut expected from the Fed in March this year may not materialise. It is likely to be postponed to June and, therefore, rate cut by the MPC will also get delayed.