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Markets hold steady amid mixed global cues; Nifty above 17,600

On Nifty, NTPC was the top gainer soaring by 2.3% followed by Bajaj Finserv, Kotak Bank, Eicher Motors and Power Grid up 1% each.

September 02, 2022 9:37 IST | India Infoline News Service
The last day of this week began on a positive note for Indian markets with Sensex climbing nearly 260 points and Nifty 50 surging by at least 75 points during the opening bell of Friday. However, mixed global cues may bring volatility to markets sentiments. Sensex and Nifty 50 both recorded buying sentiments with all sectors trading in the green. 

Meanwhile, investors may carry a cautious tone as US jobs data to be released today and the CPI numbers expected on September 13, will give an indication about the strength of the US economy and its influence on the US Fed's rate decision later this month.

At around 09.36 AM, Sensex was trading at 58,936.92 up by 170.33 points or 0.29%. Nifty 50 traded at 17,612.65 above 69.85 points or 0.40%. 

In terms of sectoral indices, on NSE, all the sectors are trading in the green with marginal gains. Bank Nifty jumped over 200 points to support the benchmark indices.

On Nifty, NTPC was the top gainer soaring by 2.3% followed by Bajaj Finserv, Kotak Bank, Eicher Motors and Power Grid up 1% each.

On the contrary, on Nifty, Hero MotoCorp was the top underperformer plunging 0.34% followed by Grasim slipping 0.22%. Shree Cements, Maruti Suzuki and Larsen & Toubro also tumbled marginally.

On the global front, US markets rebounded from 4 days of frantic selling as Dow Jones closed higher by 145 points while Nasdaq closed lower by 32 after being down over 230 in intra day trade.

Moreover, Asian markets opened mixed with sideways trade in most indices as the recent sharp sell off in the US markets has seen collateral selling in most Asian markets. The Japanese 'Nikkei' was trading flat while the South Korean 'Kospi' was slightly higher.

Back at home, India's tax collection (GST Collection) from the sale of goods and services surged 28% to Rs1.43 lakh crore in July 2022 led by rising demand, higher rates and greater compliance ahead of festive season.

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