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Markets in a volatile session; IT stocks under pressure; IndusInd Bank jumps 4% post Q1 result

21 Jul 2022 , 09:44 AM

Indian markets logged a volatile performance during Thursday’s opening bell as Asian counterparts turned back to red led by selloffs recorded in Japanese shares. A lacklustre movement was witnessed in benchmarks Sensex and Nifty, however, the bears were kept at bay aided by metal, bank and auto stocks. IT and Pharma were laggards in the early session. In today’s trade, expect consolidation ahead of the ECB and Fed meetings due on July21 and  27, 200 respectively which could see volatility before the weekend.

At around 09.40 AM, Sensex was trading at 55,367.02 down by 30.51  points or 0.06%. The index has touched an intraday high and low of 55,446.51 and 55,270.75, respectively.

Nifty 50 performed high by 8.20 points or 0.05% at 16,529.05. The index has clocked an intraday high and low of 16,538.30 and 16,483.90 respectively.

In terms of sectoral indices, Nifty Media and Metal were top gainers soaring 1.6% and 0.8% respectively, while Nifty Bank and Auto also contributed to the winnings by surging marginally. However Nifty IT and Pharma were under pressure dragged by heavyweights.

Nifty gainers were – IndusInd Bank climbing nearly 4.5% after Q1 results. Hindalco surged nearly 2% while Adani Ports and UPL followed by advancing around 1.4% each. Larsen & Toubro jumped by 1% 

Nifty underperformers were – Wipro tumbling around 1.5% followed by HDFC Life slipping 1%. Kotak Bank dipped by 0.6% while Eicher Motors and SBI Life shed 0.3% each.

Stocks of Can Fin Homes, CSB Bank, Cyient, Happiest Minds Technologies, Hindustan Zinc, IDBI Bank, IndiaMART InterMESH, ICICI Securities, JSW Energy, Kajaria Ceramics, Mphasis, Persistent Systems, Hitachi Energy India, PVR, RBL Bank, Ramkrishna Forgings will be in focus today ahead of their June 2022 quarterly results.

On the global front,Asian markets opened mixed after the big rally yesterday with the Japanese ‘Nikkei’ trading lower by 50 points as profit booking was seen after the gains of 750 points. Most other Asian indices traded flat as markets await further data on cooling inflation with the Federal reserve meet slated for next week

Overnight, on Wall Street, the tale was different. US markets witnessed another day of gains with Dow Jones closing higher by 50 points while Nasdaq jumps over 180 points making the rally from June lows to over 12%.

Related Tags

  • Asian markets
  • Auto sales
  • auto sector
  • Axis Bank share price
  • BSE live
  • bse sensex
  • f&o expiry
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