Markets remain in red; IT stocks outperform

20 Oct 2022 , 02:00 PM

Domestic benchmark indices remain in red on Thursday’s market session amid volatility. Both the Sensex and Nifty benchmarks on a muted level on fear of continous aggressive rate-hike path by US Fed.

Further, today the rupee hit a new record low of 83.08 against a resurgent dollar as investors worry about a potential recession in the coming months.

On the sectoral front, nifty auto and metals were down by 1.2% and 1.09% respectively followed by banking and financial stock whereas IT index outperformed counterparts to climb more than 1% during late afternoon trade today.

At around 2:00 PM, Sensex was trading at 59,057.76 lower by 49.43 points or 0.08%. Nifty 50 traded at 17,505.75 higher 6.50 points or 0.04%.
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Top Bulls on Nifty 50 are: UPL (+2.76%), HCL Tech (+1.93%), Tech Mahindra (+1.76%) supported by Nestle India (+1.24%) and Infosys (+1.13%). Meanwhile, top losers on Nifty 50 are: InndusInd Bank (-5.24%), Apollo Hospitals (-1.89%), Ultratech Cement (-1.58%), Axis Bank (-1.45%) and Titan (-1.08%).

Meanwhile, in broader Asia market, Asia-Pacific shares, excluding Japan, fell to more than two-year low, while the 10-year US yield touched a fresh 14-year high.

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