Markets at all time high; Sensex jumps 350 pts, Nifty around 18,600 led by oil -; gas stocks

28 Nov 2022 , 01:50 PM

Domestic benchmark indices trading in the green after the gap-down opening on Monday’s market session. Both the Sensex and Nifty benchmarks had begun its fast rally with IT and oil & gas stocks. Sensex and Nifty hit record highs led by gains in oil market companies as crude oil prices slid following protests in major China cities against zero-covid policies.

On the sectoral front Oil & Gas index outperforming by rising over 100 points with IT, banking index on marginal upside.

At around 2:00 PM, Sensex was trading at 62,646.59 higher by 352.95 points or 0.57%. Nifty 50 traded at 18,598.80 higher 86.05 points or 0.46%

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Top Bulls on Nifty are: BPCL (+4.2%), Reliance (+3.4%), Hero MotoCorp (+2.2%) supported by Asian Paints (+1.5%) and Nestle India (+1.3%). Meanwhile, top losers on Nifty are: Hindalco (-2.2%), JSW Steel (-2%), Tata Steel (-1.3%), Apollo Hospitals (-1.2%) and M&M (-1%).

Furthermore, Hero MotoCorp stocks in focus today as from December 1, the company has announced that it will hike the ex-showroom price of its bikes and scooters. The price will be hiked by Rs1500 and the exact hike will vary from model to model.

Meanwhile, a Reuters poll showed the Indian economy likely returned to a more normal 6.2% annual growth rate in the quarter ended September, after clocking double-digit expansion in the previous quarter. India’s GDP data is due on Wednesday.

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