Markets trade flat amid mixed global cues; Auto, metal stocks drive

17 Aug 2022 , 09:35 AM

The Indian market was in a volatile session and trading flat on Wednesday tracking mixed global cues. Except IT and media stocks, all other sectoral indices were trading in the green with banking, financial and auto stocks outperforming the most. However, domestic equities likely to pick up the pace with signs of inflation coming down, and global oil prices on a week footing.

At around 09:36 AM, Sensex was trading at 59,928 up by 85.93 points or 0.14%. Meanwhile, Nifty 50 performed at 17,844.95 higher by 19.70 points or 0.11%.

In terms of sectoral indices, except IT and media all the major indices trading in the green where auto and metal index were marginally higher.

Top bulls on Nifty are – NTPC surging nearly 1.7% followed by Grasim advancing around 1.5%. Hero MotoCorp and BPCL jumped by 1.3% and 1.2% respectively. Eicher Motors surged 1.17%.

Top bears on Nifty were – Infosys, TCS, HDFC, HDFC Bank and Tech Mahindra plunging diving marginally.

Meanwhile, India’s wholesale inflation came down to 13.93 per cent in July, data released by the Ministry of Commerce & Industry showed on Tuesday.

Asian markets opened mixed with the Japanese ‘Nikkei’ trading higher by over 200 points while the ASX & other indices traded lower on profit booking.

Overnight, US markets witnessed another strong day as Dow Jones climbs over 230 points while Nasdaq closes lower by 25 on profit booking. Consumer stocks lead the gainers with Walmart leading the winners.