Markets trade higher; Sensex nears 61,800, Nifty 50 around 18,300

23 Nov 2022 , 09:34 AM

Indian markets traded in the green led by broad-based buying on Wednesday’s opening bell. Except for PSU Bank and FMCG, all other sectoral indices witnessed upside. The domestic equities followed the positive trend in Asian cues amid major economic developments. However, the tone of the markets back at home is seen as volatile. PSU Bank has underperformed, while auto and banking stocks also witnessed substantial gains. India’s volatility index has nosedived nearly 7.5%.

At around 9:34 AM, Sensex was trading at 61,591.80 higher by 172.84 points or 0.28%. The index was near the day’s high of 61,780.90.

Nifty 50 traded above 59.20 points or 0.28% at 18,294.40. The index was also near the day’s high of 18,325.40.

In terms of sectoral indices, on NSE, the Auto and Banking index soared by over 0.5% each. Metal and IT index climbed over 0.2% each. While the Realty, media and pharma index traded on a muted level but in the green.

Bulls on Nifty were – Hindalco (+1.1%), Kotak Bank, Bajaj Auto, Cipla and Dr Reddy surging around 0.9% each. Stocks like Britannia, Maruti Suzuki, Eicher Motors gained between 0.5-0.7%.

Bears on Nifty were – Apollo Hospitals, ITC, Grasim, NTPC, TCS down between 0.09-0.3%.

On the global front, Asian markets opened in the green led by the Taiwan & South Korean markets as the Japanese ‘Nikkei’ was closed for a holiday with most indices trading in the green.

Overnight, on the wall street, US markets see a big day after three days of losses as Dow Jones ends up 400 points while Nasdaq jumps over 149 points as bulls come roaring back. 

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