Markets recover from early losses to trade higher; Banking, Financial stocks outperform

17 Oct 2022 , 02:03 PM

Domestic benchmark indices recoverd some losses and trading in the green on Monday's market session led by financials, banking, power and auto stocks. Both the Sensex and Nifty benchmarks were marginally higher as now the focus shifts to banking stocks quarter updates after a decent set of Q2 numbers by IT majors.

Further, today, Electronics Mart India makes strong debut in the stock exchanges and listed at Rs90, a premium of nearly 52% as compared to its IPO issue price of Rs59.

On the sectoral front, except metals, media and realty stocks falling around 1% each, all other major indices are trading in the green.

At around 2:00 PM, Sensex was trading at 58,361.01 higher by 441.04 points or 0.76%. Nifty 50 traded at 17,306.05 higher 120.35 points or 0.70%.

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Top Bulls on Nifty 50 are: SBI (+2.33%), ICICI Bank (+1.5%), Bajaj Auto (+1.4%) supported by Infosys (+1.34%) and NTPC (+1.3%). Meanwhile, top losers on Nifty 50 are: Ultra Cements (-1.73%), JSW Steel (-1.69%), Hindalco (-1.47%), L&T (-0.96%) and Apollo Hospitals (-0.61%).

Meanwhile, on the global front, Asia, equities slipped today following another drubbing for Wall Street as investors brace for a further drastic tightening in global financial conditions.

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