Markets trade flat amid mixed Asian cues with Nifty above 18,400

25 Nov 2022 , 09:39 AM

The appetite for equities was bleak in Friday’s opening bell with Sensex and Nifty trading flat amid mixed Asian cues. A broad-based selloff was recorded in domestic equities with IT, FMCG, metal and pharma stocks being the worst hit.

On previous day, Sensex hits all-time high at over 62,300 on positive cues from investors ahead of Fed minutes which may set tone for the US markets and India markets as well.
 
At around 9:39 AM, Sensex was trading at 62,232.79 down by 39.89 points or 0.06%. Nifty 50 performed at 18,454.75 lower by 29.35 points or 0.16%.

In terms of sectoral indices, on NSE, the Pharma, FMCG index shed nearly 1%, while the IT, metal index logged substantial profit booking. However, Bank Nifty, media and PSU Banks logged buying sentiments from the investors.

Top bulls on Nifty were – HDFC Life and Axis Bank soaring by 1% each followed by Apollo Hospitals surging 0.86%. Larsen & Toubro and ONGC also made significant gains.

Among bears on Nifty, heavyweight Cipla took the lead slipping by 1.15% followed by Power Grid diving by 1.13%. Bajaj Finance, TCS and Nestle India fell between 0.9-0.8%.

On the Asian front, Asian markets opened mixed with profit booking seen in Japanese ‘Nikkei’ which was down 40 points in early trade, while the ASX & New Zealand markets were up over 1%.

Further, US markets closed for Thanksgiving day on Thursday.

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