Markets trade positive; Sensex zooms 300 pts, Nifty 50 around 15,500; IT, Auto outperform

23 Jun 2022 , 09:43 AM

Indian markets traded on a positive note during Thursday’s opening bell amid  mixed global cues. The domestic equities recorded a broad-based buying with IT stocks outperforming. Oil & gas stocks was the only laggard during the early trade. Notably, on global front, increasing probability of US economy falling into recession is also a fear of concern worldwide led by fluctuating crude oil price.

Moreover, globally UK consumer inflation hit a new 40-year high amid warnings of global recession which is also the key factor to impact indian financial markets today.

At around 09.46 AM, Sensex was trading at 52,117.48 higher by 294.95 points or 0.57%. The index has touched an intraday high of 52,168.61 in early trade.

Nifty 50, meantime, was performing at 15,510.40 higher by 97.10 points or 0.63%. The index has clocked an intraday high of 15,517.25.

Nifty 50 gainers were – Hero MotoCorp surging over 4% followed by Bajaj Auto soaring by 3%. Bharti Airtel, Tata Motors and Maruti Suzuki jumped by 2% each. Tata Steel and Adani Ports gained more than 1.5% each.

Nifty underperformers were – Apollo Hospitals, ONGC, Titan, Relaince and UPL plunging between flat to 1.5%.

In terms of sectoral indices, on NSE, the IT index outperformed by strengthening 300 points. Bank and auto index jumped 290 points and 200 points respectively.

On the global front, US markets see huge inside out day as Dow Jones swings over 650 points to close down 45. Bond yields close lower at 3.13% as crude prices fall sharply.