Markets bullish; IT, Metal, Auto outperform; SBI Life, Bajaj twins lead

29 Jul 2022 , 09:39 AM

Indian markets are trading bullish on Friday with benchmark Sensex rising to at least over 57,477.06 and Nifty 50 nearing the 17,118.75-mark. The domestic equities tracked bullish global cues as investors concerns cooled down from positive US corporate earnings and fed policy outcome.

Back at home, a broad-based buying was recorded across sectoral indices with banking, IT and metal stocks outperforming.

At around 09.36 AM, Sensex was trading at 57,410.45 up by 552.66 points or 0.97%. While, the Nifty 50 was performing at 17,0.95.45 higher by 165.85 points or 0.98%.

Top bulls on Nifty are – SBI Life in lead soaring by 8% followed by Bajaj Finserv surging by 3.3%. Tata Steel, Bajaj Finance, Asian Paints climbed over 2%.

M&M, Hero MotoCorp, Eicher Motors, Tata Motors soared more than 1.5% each.

On the other hand, Dr Reddys, Cipla, Sun Pharma, Divis Lab and BPCL was among top losers on Nifty tumbling with a marginal downside.

In terms of sectoral indices, Nifty IT soared by 450 points, while Nifty Metal, Auto and Financials jumped more than 1% each to drive the broader bullish markets.

Asian markets opened in the green with US cues seeing gains in almost all Asian indices led by the ASX & Taiwan markets.

Overnight, US markets witnessed another big day as Dow Jones closes higher by 320 points while Nasdaq gains over 140 points.