Market opens ~1% higher; Nifty above 16,300 points

27 May 2022 , 09:34 AM

Domestic Markets make entry in green zone today, driven by positive global cues. Sectoral indices auto, IT, and Pharma remained nearly 1% higher. Oil & Gas makes a dim start to the day with marginal downfall, while all other indices trade in green.

Sensex opened at 54,727.83 points, up by 475.30 points or 0.88% against the previous close. Nifty opened 144.90 points or 0.90% higher at 16,315.05 points

At around 9.37 AM, BSE Sensex was trading 0.91% higher at 54,746 points. NSE Nifty gained 144.80 points or 0.90% and was trading at 16,314.95 points.

Tech Mahindra (+2.84%) emerged as the top gainer, followed by HCL Technologies (+2.55%), and Infosys (+2.46%). Apollo Hospitals (2.38%) and Wipro (+2.07%) start the day with nearly 2% increase.

ONGC (-4.51%) was the top underperformer shedding nearly 5%. NTPC (-1.27%), Power Grid (-0.97%) opened nearly 1% lower.  Asian Paint (-0.80%), and Britannia (-0.30%) dragged down the chart further.

On the sectoral front, Nifty IT (+1.77%), Media (1.24%), and Auto (1.03%) rallied above 1%. Nifty Bank (+0.68%), Pharma (+0.90%), and Metal (+0.81%) joined the rally with marginal gains.

Globally, US Markets reflected positive cues as earnings reports from large Corporates witnessed short covering/value buying emerge. Dow Jones settled 1.61% or 516.91 points higher at 31,697.19 points in the previous trade.

Asian Markets remained cheery today on the back of overnight US positive cues. Hang Seng (2.93%) led the chart adding nearly 3%. Taiwan TSEC (+1.66%), and Nikkei (+0.59%) also kept up the spirit.