Indian markets trade higher on positive cues; Nifty 50 above 18,500

13 Dec 2022 , 09:38 AM

Indian markets recovered from their previous losses and were in the positive trade during Tuesday’s opening bell tracking positive global cues. Banking stocks rallied the most, while IT, metals, auto stocks also contributed to the upside substantially.

Sensex has gained over 62,200-mark in the early deals. At around 9:36 AM, Sensex was performing at 62,200.67 higher by 70.1 points or 0.11% after touching an intraday high of 62,300.67.

Meanwhile, in the early exchange of trade, Nifty 50 managed to inch near 18,500. At present, the 50-scrip index was trading at 18,516.35 up by 19.20 points or 0.10% after touching an intraday high of 18,540.85.

In terms of sectoral indices, on NSE, the banking index climbed more than 130 points followed by IT, Auto metal on upside with marginal gains.

Nifty bulls were – Tata motors, IndusInd Bank, ONGC, Ultratech Cements and Adani Ports climbing between 0.6-1.2%.

Nifty bears were – Apollo Hospitals, Power Grid, BPCL, Asian Paints and UPL dipping between 0.4-1%.

On the global front, Asian markets opened in the green led by the Japanese ‘Nikkei’ which was up over 100 points in early trade as markets await the CPI inflation number due today in the US & the subsequent Federal Reserve policy action on the December 14.

Overnight, on the Wall Street, US markets see a smart pullback with Dow Jones closing with gains of over 530 points while Nasdaq gains 139 points.

For feedback and suggestions, write to us at [e-mail]