Markets rally, led by broad-based buying; Nifty above 18,200 mark

30 Dec 2022 , 09:43 AM

Indian stock markets rose higher on the last trading day of the calendar year 2022 with Sensex topping over 61-200-mark and Nifty 50 nearing towards 18,300. The domestic equities witnessed a bull run amid positive global cues. Back at home, a broad-based buying was recorded with metal and PSU Bank stocks emerging as major boosters of the performance. All the sectoral indices were up.

At around 9:45 AM, Sensex traded at 61,293.66 up by 159.78 points or 0.26%. The index has touched an intraday high of 61,329.16.

Nifty 50 performed at 18,251.95 up by 60.95 points or 0.34%. The index has climbed to the day’s high of 18,264.70.

In terms of sectoral indices, on NSE, the Metal index soared over 100 points, while the Banking, Auto, Pharma index advanced marginally.

Gainers on Nifty were – Bajaj Finserv (+2.4%) followed by Bajaj Finance (+2.3%). Tata Steel, Hindalco, ONGC, Titan, SBI zoomed between 1-2%.

Heavyweights like Wipro, L&T, Adani Enterprises, RIL also added substantial gains with nearly 1% upside each.

Losers on Nifty were – Eicher Motors (-0.9%) followed by SBI Life, Asian Paints, Sun Pharma, ICICI Bank.

Further, Q3 results starting from January 12 will be the next trigger for markets. Capital goods, financials and construction-related segments are likely to post positive and healthy results.

On the global front, Asian markets opened in the green led by the Hang Seng & Chinese index as overnight smart rally on Wall Street saw equities globally rebound. The Taiwan index also saw gains even as the South Korean ‘Kospi’ was closed for a holiday.

Overnight, on Wall Street, US markets finally saw year-end rally as jobs data reflected rise in unemployment,  which saw bond yields moderate slightly & equities rebound strongly. Dow Jones closes higher by 345 points while Nasdaq recovers from 2-year lows to close higher by 265 points.

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