Markets bullish with Nifty 50 near 17,400

6 Oct 2022 , 02:08 PM

In Thursday afternoon session, Indian benchmark indices maintained a bullish tone in line with Asian shares. Sensex and Nifty continued the rally with Metal, IT, bank, and realty stocks on a running spree.

Sensex and Nifty gained about 1% with the strong broader markets. On the sectoral front, metal stocks outperformed with about a 3% gain. IT, Realty, and media stocks registered about a 2% upside. Nifty Bank and auto stock joined the rally with over 1% gains each.

At around 2.00 PM, Sensex was trading 340 points higher at 58,405.08. Nifty 50 traded at 17,370.75 points, up by 97 points or 0.56%.

Hindalco (+4.29%) and JSW Steel (+4.23%) emerged as the top bulls on NSE, gaining over 4%. Coal India (+3.92%), ICICI Bank (2.56%), and Larsen & Toubro (+2.32%) followed.

NSE Top losers are: Hindustan Unilever (-2.13%), Bharti Airtel (-1.81%) with nearly 2% downside. Divis Lab (-1.72%), Cipla (-1.50%), and Bajaj Finance (-1.40%) shed about 1%.

JSW Energy remained in focus today as wholly-owned subsidiary JSW Neo signed an agreement with the Maharashtra government to set up a 960 MW hydro pump storage project in Raigarh. FMCG Stocks traded on a dim note.

Further, European shares edged up after a dip in the previous session ahead of key data, and minutes of the European Central Bank’s September meeting.