Market trades lower amidst mixed global cues; Nifty below 16,150 points

24 May 2022 , 10:21 AM

Indian markets opened in green amid high volatility on Tuesday driven by mixed global cues. However, soon the global indices lost momentum and erased all early morning gains.

During opening bells, Sensex was 164.93 points or 0.30% higher at 54,453.54 and Nifty added 35.65 points or 0.22% at 16,250.35 points.
At around 10.09 AM, BSE Sensex was trading 188.01 or 0.35% lower at 54,100.60 points. NSE Nifty was trading 71.15 or 0.44% lower at 16,143.55 points.

Gainers on Nifty were — PowerGrid (+1.56%), and Mahindra & Mahindra (+1.15%) adding over 1%, followed by SBI (+0.72%), Dr Reddy’s (+0.71%) and Bajaj Auto (+0.69%).

However, Divis Lab (-5.91%) remained the top underperformer followed by Grasim Industries (-4.69%), Hindustan Unilever (-2.92%), Hindalco (-1.94%), and Apollo Hospitals (-1.68%).

On the Sectoral front, Nifty Bank, auto, and PSU showed slight gains. Nifty Media (-1.35%) tumbles over 1% followed by Nifty FMCG (-1.03%), Nifty IT (-1.25%), and Pharma (-1.05%) while all other indices were marginally lower.

On the global front, US markets witnessed another day full of volatility, and Dow Jones closed 618 points higher.

Asian Indices reflect on weak investor sentiments as all set positions in the red territory. Shanghai SE (-1.10%), and Hang Seng (-1.32%) led down the chart, followed by marginal dents in Nikkei (-0.54%), and Taiwan TSEC (-0.53%).