Markets rally! Sensex over 61,300, Nifty 50 above 18,275; Consumer Durables outperform; HDFC, Titan in lead; RIL in focus ahead of Q2

Consumer durables recouped some losses and were among top gainers with financial stocks also contributing major gains.

Oct 22, 2021 09:10 IST India Infoline News Service

Investors recovered some losses of the past few days on Friday as benchmarks Sensex and Nifty topped 61,400 and 18,300 mark. A broad-based buying was witnessed across sectoral indices. Consumer durables recouped some losses and were among top gainers with financial stocks also contributing major gains. Major Q2 earnings will sway markets outlook for today.

For today, another volatile day is expected as the benchmarks witness mixed bouts of buying/ selling from local and foreign investors.

At around 09.49 am, Sensex was trading at 61,303.08 higher by 379.58  points or 0.62%. The benchmark has touched an intraday high and low of 61,420.13 and 61,005.56 respectively.

Nifty 50 performed at 18,276.40 up 98.30 points or 0.54%. The index has clocked the day's high and low of 18,314.25 and 18,204.20 respectively.

In terms of sectoral indices, on BSE, the Consumer Durables index climbed over 740 points. The Finance index surged around 1% each. However, the Metal index nosedived over 1% and was the top laggard.

Top bulls on Sensex were - HDFC and Titan zoomed 2.5% each, while Bajaj Auto, Tech Mahindra and Bajaj Finserv climbed more than 2% each. HUL and Bajaj Finance advanced nearly 2% each, while HDFC Bank gained over 1%.

Top bears on Sensex were - Asian Paint plunged over 1% followed by Tata Steel and NTPC tumbled 0.8% and 0.6%. ICICI Bank, SBI, Infosys dipped marginally.

Companies that will be in focus ahead of their Q2 results today are Reliance Industries, HDFC Life Insurance Company, Yes Bank, Apollo Pipes, Crompton Greaves, Consumer Electricals, Dodla Dairy, Federal Bank, Gland Pharma, Hindustan Zinc, Inox Leisure, Jubilant Pharmova, Kajaria Ceramics, Kirloskar Ferrous Industries, Kwality Pharmaceuticals, Mahindra Holidays & Resorts India, Omkar Speciality Chemicals, Polycab India, ABB Power Products and Systems India, PVR, Steel Strips Wheels, Subros, Sundaram-Clayton, Supreme Industries, Tata Consumer Products, Tata Elxsi, and Zenotech Laboratories.

Asian markets opened in the green led by the Japanese 'Nikkei' which was trading higher by 200 points after an over 2% sell-off yesterday. This as most Asian markets see consolidation as business traction returns to pre Covid levels. Chinese stocks were the only place to hide in yesterday's weakness seen across Asian markets and could outperform in the near term.

Sentiments were positive also amid rise in China Evergrande Group after reports stated that the realty firm is set to pay off a coupon payment on a dollar-denominated bond.

Overnight, on Wall Street, US markets close mixed with S&P 500 index hitting fresh new all-time highs, while Dow Jones closed flat after seeing an intraday dip of over 170 points. Nasdaq and Russell 200 closed in the green even as bond yields on 10-year paper hit 1.69%. Oil prices fall sharply as US supplies see better than expected growth.

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