Markets in green; Nifty 50 above 18,250 level; Tata Motors in focus

9 Nov 2022 , 09:30 AM

Indian markets opened in green during Wednesday’s early exchange of deals led by corporate earnings, major macroeconomic data and positive global cues. Banking and IT stocks lifted the broader benchmarks, while metal, FMCG stocks also contributed substantial gains.

In the opening bell, Sensex has touched an intraday high of 61,036.56 and Nifty 50 rose to more than 18,210.

At around 9:31 AM, Sensex was trading at 61,370.83 up 185.68 points or 0.30%. Nifty 50 jumped by 56.55 points or 0.31% and was trading at 18,259.35.

In terms of sectoral indices on NSE, the Bankex index jumped nearly 130 points while the auto, pharma, IT and metal index trading on a muted level but in the green..

Bulls on Nifty were – Coal India up 3.75% followed by Adani Ports, CIpla, Nestle India and HCL Tech zooming between 1.3-2%.

Bears on Nifty were – Hindalco, Divis Lab, ONGC, Power Grid and HDFC plunging between 0.3-3%.

Companies that are set to announce their Q2 today are – Tata Motors, Lupin, NALCO, Bajaj Consumer Care, Balrampur Chini Mills, Barbeque-Nation Hospitality, Deepak Nitrite, Edelweiss Financial Services, Engineers India, Godrej Properties, Nuvoco Vistas Corporation, Petronet LNG, Pidilite Industries, Prestige Estates Projects, Quess Corp, Star Health, and Tracxn Technologies.

On the global front, US markets closed in the  green led by Dow Jones gained over 1150 points with fall in US dollar seeing return to equities coupled with short covering. Nasdaq also gained moderately ahead of the CPI numbers due this Thursday. 

Moreover, Asian markets opened mixed with the Japanese ‘Nikkei’ seeing profit booking after the rally of last 4 days as it traded mildly in the negative.The other indices were also rangbound with most trading sideways as investors await the inflation data due in the US tomorrow which could see the Federal reaction over rates in  December.

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