MARKET UPDATE: Sensex advanced over 300 points to quote at 61,251 levels while the Nifty50 topped the 18,200-mark, rising 80 points

Individually, Zensar Technologies surged 5 per cent after the company posted net profit of Rs. 76.5 crores for the period ended December 31, 2022 as against net profit of Rs. 56.8 crores for the period ended September 30, 2022. The company's revenue, however dipped marginally to Rs 1,223.5 crore.

On the downside, shares of Tata Communications, declined over 3 per cent as the company’s net slipped 7.3 per cent to Rs 208.95 crore in Q3FY23 from Rs 225.51 crore in Q3FY22. Total income, however, was up 12.5 per cent YoY at Rs 1,918.86 crore.

Sector-wise, the Nifty IT and PSU Bank indices (up 0.5 per cent each) were the star performers, followed by Nifty Bank index (up 0.4 per cent). On the downside, the Nifty Realty index fell 0.2 per cent.

About 80 companies are scheduled to report their December quarter results today including Cartrade Tech, Colgate Palmolive, HDFC AMC, Maruti Suzuki India, SBI Card, and TVS Motor Company.

India's largest domestic passenger vehicle maker - Maruti Suzuki - may see sequential decline in net profit and revenue due to moderation in sales volume in Q3. The net profit is expected to increase up to 92 per cent YoY, but decline up to 7.7 per cent per cent QoQ, in the range of Rs 1,794.4 crore to Rs 1,940 crore.