Markets bullish with Nifty around 17,500; Auto, banking, power stocks rise

18 Oct 2022 , 02:00 PM

Domestic benchmark indices in a super rally in the late afternoon session today led by banking, auto, power and realty stocks. Both the Sensex and Nifty benchmarks were inching higher as the shares jumped to three-week highs in the early trade amid festive season environment in the country.

Further, four major companies get market resulators SEBI’s approval tofloat their IPO. The companies are BIBA Fashions, Keystone Realtors, Plaza Wires and Hemani Industries..

On the sectoral front, auto, power and IT index climbed more than 1% each to drive the market sentiments.

At around 2:00 PM, Sensex was trading at 58,977.38 higher by 566.4 points or 0.97%. Nifty 50 traded at 17,485.25 higher 173.45 points or 1%.

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Top Bulls on Nifty 50 are: SBI (+3.26%), Adani Ports (+3.05%), Tata Motors (+2.34%) supported by Bharti Airtel (+2.25%) and ITC (+2.24%). Meanwhile, top losers on Nifty 50 are: NTPC (-1.10%), HDFC (-0.72%), BPCL (-0.49%), Bajaj Auto (-0.45%) and Sun Pharma (-0.39%).

Meanwhile, on the global front, Asia index climbed as the dramatic U-turn in British fiscal policy triggered investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week.

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