Markets maintain winning spree; Sensex gains 300 pts, Nifty 50 over 17,200; RIL, Coal India, Adani Ports among top bulls

21 Apr 2022 , 09:35 AM

Indian markets maintained their winning streak on Thursday as well with heavyweight stocks being in the fast lane. A broad-based buying was witnessed across sectoral indices except for metal stocks which saw lacklustre demand. The domestic equities traded higher despite mixed global cues as Asian indexes traded higher on US yield drop near 2.87%.

Furthermore, corporate earnings offset the onslaught of the inflationary pressure amid Russia-Ukraine war.

Notably, US markets saw a mixed trading with Dow Jones gaining 250 points while Nasdaq loses over 1% as profit booking & sharp fall in Netflix weigh on the index. Netflix loses 200k users which is the first drop in the decade resulted to its massive loss of $50 billion in market cap during the trading on Wednesday.

Back at home, at around 09:37 AM, Sensex is trading at 57,379.78 higher by 342.28 points or 0.60%. Nifty 50 was performing at 17,244.40 up 107.85 points or 0.63%.

Nifty 50 gainers were – Coal India and IndusInd Bank surging around 2% each followed by Reliance Industries, Bajaj Finserv and Adani Ports soaring around 1.5% each. Asian Paints, Eicher and Maruti Suzuki gained by 1.2% each.

On the downside, Nifty 50 saw Nestle India in the lead tumbling by 1% followed by Hindalco and Bajaj Auto plunging 0.9%. Stocks like Tata Steel, JSW Steel and Cipla traded lower by 0.6% each.

Companies that are set to announce their March 2022 quarterly result today and will be in focus are – HCL Technologies, Nestle India, ICICI Lombard General Insurance Company, L&T Technology Services, Tata Communications, CRISIL, Cyient, Rallis India, Sasken Technologies, Shiva Cement, Betala Global Securities, Rajratan Global Wire, Roni Households, Shukra Jewellers, S&T Corporation, and Trident Texofab.

In terms of sectoral indices, Nifty Realty outperformed by surging over 1%. Metal stocks witnessed marginal downside. The remaining other indexes were in green.