Markets on a bull run; Sensex tops 60k; Nifty around 17,900

9 Sep 2022 , 09:40 AM

Indian markets traded on a bullish note during Friday’s opening bell amid broader positive global cues. Also, investors reacted to the US Federal Reserve’s hawkish comments on interest rates hike. Back at home, a broad-based buying was witnessed across sectoral indices with banking and metal stocks outperforming and substantial gains recorded in auto, financial, IT and media stocks.

At around 09:36, Sensex was trading at 59,979.58 higher by 291.36 points or 0.49%. The index has touched an intraday high and low 60,119.80 and 59,959.28 respectively.

Nifty 50 performed at 17,888.65 up 89.90 points or 0.51%. The index has touched an intraday high and low of 17,925.95 and 17,887.35 respectively.

In terms of sectoral indices, on NSE, the Banking index jumped more than 300 points. Meanwhile, the Metal index climbed over 1%. IT and Auto stocks also surged marginally.

The top bulls on Nifty were – IndusInd Bank climbed 2.4% followed by Hindalco and Shree Cement soared 2%. Hindustan Unilever, JSW Steel, SBI, Tata Steel zoomed more than 1.5% each.

Stocks like NTPC, ONGC, Grasim, Infosys, Tata Motors, Maruti Suzuki, heavyweights TCS and RIL advanced 0.5-1%.

However, BPCL, Coal India, Bajaj Finserv, Bharti Airtel and LT were the top losers on Nifty with a marginal downside.

On the Asian front, markets rallied following the broadly positive cues from Wall Street overnight. Asian shares crept higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the US Federal Reserve Chair reinforced bets of aggressive tightening ahead.

Overnight, on Wall Street, the main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers.

For feedback and suggestions, write to us at [e-mail]