Markets in green amid broad-based buying; Sensex gains 200 pts, Nifty around 16,700

22 Jul 2022 , 09:37 AM

Indian markets traded in green despite broader mixed sentiments in Asian markets and volatility of overnight on Wall Street. On Sensex and Nifty 50, a broad-based buying was witnessed with media, banking stocks outperforming. Heavyweight stocks boosted markets outlook amid June 2022 quarterly results.

More consolidation is expected in domestic equities as select large-cap banks beat estimates on earnings and could lead the gainers.

At around 09:33 AM, Sensex was trading at 55,940.89 up by 258.94 points or 0.47%. The index is near to reclaimed above 56,000-level during the opening bell as it’s intraday high stands at 55,980.54.

Meanwhile, Nifty 50 traded at 16,681.60 up by 76.35 points or 0.46%. The index has jumped to an intraday high of 16,693.35.

In terms of sectoral indices, Nifty Media zoomed nearly by 1%, while Bank Nifty, Nifty IT, Auto also contributed to the winnings soaring marginally.

Top bulls on Nifty were – UPL soaring nearly 2% followed by Kotak Bank climbing over 1%. Other heavyweight stocks such as Eicher Motors, SBI, RIL, Tata Motors, Adani Ports, Titan and Maruti jumped nearly 1%.

Top bears on Nifty were – Infosys and ONGC slipping by 0.3% each, while IndusInd Bank and L&T dived 0.1% each.

Companies that are set to announce their Q1 earnings today and will be in focus are – Reliance Industries, Ultratech Cement, JSW Steel, HDFC Asset Management Company, Bandhan Bank, Coforge, Crompton Greaves Consumer Electricals, Finolex Industries, Andhra Cements, Atul, Greenpanel Industries, HFCL, Mahindra CIE Automotive, Meghmani Organics, Sigachi Industries and Tinplate Company of India. 

On the global front, Asian markets opened mixed with the Japanese ‘Nikkei’ trading almost flat in early trade & the ASX index also trading in the red. Chinese stocks have seen smart ETF flows & could be gainers once the event gets discounted.

Overnight, US markets logged another day of gains as intra day volatility sees Dow Jones gyrate over 500 points before closing higher by 160 points. Nasdaq closes higher for fifth straight day with intra day swings of over 250 points before closing higher by 160.