Markets hold steady; Nifty around 18,000-levels

12 Jan 2023 , 09:40 AM

Indian markets traded positive after flat opening on Thursday with benchmark Sensex and Nifty 50 with marginal ups and downs. IT stocks outperformed the broader markets indices, while auto, realty, consumer good stocks further added substantial gains. Metal and Pharma stocks were top laggards in the early deals. Also, December 2021 (Q3FY22) quarter has further influenced domestic equities.

At around 9:42, Sensex was trading at 60,223.20 up by 117.7 points or 0.20%. The index has touched an intraday high and low of 60,290.35 and 60,083.03.

Nifty 50 performed at 17,928.70 higher by 33 points or 0.18%. The index has clocked an intraday high and low of 17,945.80 and 17,895.60 respectively.

In terms of sectoral indices, on NSE, the IT index climbed over 150 points ahead of Infosys and HCL Tech quarter results today. While the Metal, Pharma, PSU Banks index dipped marginally.

Gainers on Nifty were – HCL Tech, Ultraech Cement, Titan, Grasim and Coal India surging between 1.2-1.6%.

Losers on Nifty were – Divis Lab, BPCL, Asian Paints, Hindalco and Tata Steel tumbling between 0.6-1.6%.

On the global front, Asian markets opened on a quiet note with the Japanese ‘Nikkei’ trading flat while the real gainers were the ASX & New Zealand indices up nearly 1%. Profit booking was seen in South Korea & Hang Seng after the superb run of last few weeks. Chinese stocks continue to see ETF flows as reopening to see rerating in the near term.

Overnight, on Wall Street, US markets witnessed another day of gains as global markets get off to a superb start with European indices seeing their best gains in over 10 months. Dow Jones closed higher by 269 while Nasdaq continues running streak for 3rd straight day up 189 points.

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