Markets kickstart in Green; Nifty above 16,620 points

1 Jun 2022 , 09:35 AM

Domestic Markets make entry into the green territory today. Sectoral indices Nifty Auto, FMCG, Oil & Gas opened with nearly 1% gains. All other indices took a position in the green territory, except NIfty Media and Financial Services.

During opening bells, Sensex was trading 129.30 or 0.23% higher at 55,695.71 points against the previous close. Nifty gained 36.80 points or 0.22% at 16,621.35 points. However, soon the markets erased early morning gains.

At around 9.38 AM, BSE Sensex was trading at 55,535.88 points, down by 31.03 points or 0.056%. NSE Nifty was trading below 16,600 levels at 16,578.10 points.

Titan Company (+3.18%) was the star performer adding nearly 3%. Tata Consumer (+2.09%) and NTPC (+1.70%) gained about 2% so far. BPCL (+1.32%) and Asian Paint (+1.22%) joined the rally with above 1% gains.

Hindalco (-1.35%) emerged as the top laggard shedding nearly 1%. Dr. Reddy’s Laboratories (-1.01%) traced the downturn. Wipro (-0.67%), PowerGrid (-0.58%), and HDFC Bank (-0.55%) dragged down the chart further.

On the sectoral front, Nifty Auto (+0.52%), FMCG (+0.65%), Oil & Gas (0.66%) topped the chart with about 1% jump. Nifty Bank (+0.10%), IT (+0.24%), Metal (+0.11%), Pharma (+0.12%), and Metal (+0.11%) remained in green with marginal upturn. Nifty Media (-0.08%) and Financial Services (-0.02%) opened with marginal declines.

Globally, US markets ended the day with a marginal decline. Dow Jones was trading 222.84 points or 0.67% lower at 32,990.12 points.

Asian Markets reflected mixed investor sentiments as Nikkei (+0.65%) was trading marginally higher. Shanghai SE (-0.02%), and Taiwan TSEC (-0.44%) were slightly down. Hang Seng (-0.64%) was the top underperformer with about a 1% decline.