The present invention relates to a sintered body of titanium-based carbonitride alloy comprising hard constituents containing at least tungsten in addition to titanium in a binder phase based on cobalt. There are four distinctly different microstructural components, namely: A) cores which are remnants of and have a metal composition determined by the raw material powder; B) tungsten-rich cores formed during the sintering; C) outer rims with intermediate tungsten content formed during the sintering; and D) a binder phase of a solid solution of at least titanium and tungsten in cobalt. Toughness and wear resistance are varied by adding WC, (Ti,W)C, and/or (Ti,W)(C,N) in varying amounts as raw materials.