Markets bullish; Sensex tops 600 pts, Nifty 50 above 16,500; RIL, ONGC in lead

20 Jul 2022 , 09:35 AM

Indian markets are trading bullish on Wedensday with benchmark Sensex rising to at least over 55,523 and Nifty 50 nearing the 16,565-mark. The domestic equities tracked bullish global cues as investors concerns cooled down from positive US corporate earnings.

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

India’s volatility index nosedived by more than 2%.

Wipro, IndusInd Bank, Havells India, Ceat, Century Plyboards, Gland Pharma, Syngene International, Tata Communications, Hathway  Cable & Datacom, JSW Ispat Special Products, Llyods Steels Industries, Mastek, Agro Tech Foods, MIC Electronics, Newgen Software Technologies, Oracle Financial Services Software will be in focus ahead of their June 2022 quarterly results today.

At around 09:38 AM, Sensex was trading at 55,375.38 up by 607.76 points or 1.11%. While, the Nifty 50 was performing at 16,522.30 higher by 181.75 points or 1.11%.

Top bulls on Nifty are – ONGC in lead soaring by 5.4% followed by RIL surging by 3%. Infosys, JSW Steel and Tech Mahindra climbed 1.6%. 

HUL, TCS, HCL Tech, Tata Motors, Titan and Wipro soared more than 1% each.

On the other hand, only Nestle India was top losers on Nifty tumbling with a marginal downside.

In terms of sectoral indices, Nifty IT soared by 528 points, while Nifty Metal, Auto and Banking jumped more than 1% each to drive the broader bullish markets.

In the Asian markets, Japanese “Nikkei’ rose over 550 points in early trade accompanied by the ASX & South Korean markets with US cues rubbing off on Asian equities.

Overnight, US markets logged another big day with Dow Jones gaining over 750 points while Nasdaq climbs over 350 points or 3.5% to record its best month since October till now.