Markets log dull demand amid volatility, Metal stocks outperform

27 Dec 2022 , 09:46 AM

Indian markets witnessed a lacklustre demand in Tuesday’s opening trade tracking mixed global cues as investors settle the year-end positions and prepare their portfolios for the new year. Also, investors are continuously assessing the development around the new Covid variant which has increased rapidly in China. The holiday season is seeing low volumes turnout.

Metal stocks were at the forefront in today’s trading session and even outperformed benchmarks and sectoral indices. Banking and Financial stocks were top laggards while remaining other sectors logged slight gains and losses.

At around 9:46 AM, Sensex was trading at 60,482.53 down by 83.89 points or 0.14%. Nifty 50 performed at 17,992.25 lower by 22.35 points or 0.12%.

Nifty bulls were – JSW Steel (+1.8%) followed by Tata Motors and ONGC soaring by over 1.4% each. Tata Steel and Hindalco jumped between 1.2% each.

Nifty bears were – Dr Reddy’s, Bajaj Finserv diving between 0.8-1%. Other stocks like Tech Mahindra, Adani Ports and UPL were also in the red.

On the global front, Asian markets opened in the green led by the Japanese ‘Nikkei’ which was trading higher by 120 points with lower-than-normal volumes as holiday season sees lower turnout. The other indices were also seeing positive ticks as global markets look forward to a better 2023.

On Wall Street, US markets closed for Christmas holiday with futures posting a positive start seeing most Asian markets trade in the green.

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