Markets at record high; Sensex climbs near 200 pts, Nifty above 18,600 led by metal stocks

29 Nov 2022 , 09:39 AM

Indian markets traded on a positive note and hit record high during Tuesday’s opening bell ahead of the country’s GDP numbers for Q2 that is scheduled for tomorrow. In the early deals, Sensex jumped even nearly 62,750, while Nifty 50 rose neared 18,650. Consumer Metals and IT stock led the rally while banking, FMCG, pharma, relaty stocks further contributed to the upside.

Heavyweight stocks witnessed value buying that drove both benchmarks Sensex and Nifty 50.

At around 9:40 AM, Sensex was trading at 62,694.96 higher by 190.16 points or 0.30%. The index was near the day’s high of  62,722.34.

Nifty 50 performed at 18,619.70 up by 56.95 points or 0.31%. The index was near the day’s high of 18,624.80.

On NSE, in terms of sectoral indices, the IT and Metal index outperformed by soaring nearly 1% each. The Banking index jumped over 100 points. Except Auto index, all other sectoral indices were marginally higher.

Nifty bulls were – Britannia soaring over 2% followed by Hindalco and Dr Reddy climbing 1.4% each. Hindustan Unilever and Cipla were higher by 1.3% each.

Maruti Suzuki, BPCL, Bajaj Finserv, L&T, HDFC Life were trading marginally lower as top bears on Nifty.

On the global front, Asian markets opened in the red following the weakness of yesterday as China chaos saw Asian & global markets react on the downside. The Japanese “Nikkei’ was trading lower by over 200 points with the Taiwan & ASX markets also trading lower,

Overnight, on Wall Street, US markets started the week on a weak note as China protests on lockdown could see global growth take a further hit. Dow Jones falls over 500 points while Nasdaq falls 176 points as bond yields hit 3.69%.

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