Markets trade cautiously; Sensex around 60,400, Nifty 50 near 18k; Bank, Metal underperform; HCL Tech, NTPC, HDFC top bulls; Tata Steel, Bajaj twins worst hit

11 Jan 2022 , 09:55 AM

A cautious tone was seen in the opening bell of Tuesday as investors stay sceptical over active Covid cases with the movement of Omicron and its fall out in India. However, the Q3 corporate earnings season that has commenced keeps bears impact limited on benchmarks Sensex and Nifty 50. A mixed stance was logged across sectoral indices with IT outperforming its counterparts and metal stocks being the worst hit.

On the global front, investors acted defensively as fears about quicker-than-expected interest rate hikes by the US Federal Reserves to tackle inflation and rapid surge in the cases of the Omicron variant of COVID-19, took rounds.

At around 09.56 am, Sensex was trading at 60,373 down by 22.63 points or 0.04%. The index has touched an intraday high and low of 60,571.30 and 60,300.21 respectively.

Nifty 50 performed at 17,996.25 down by 7.05 points or 0.04%. The index has touched over 18,000-mark with an intraday high of 18,053.90 but pulled back and even clocked an intraday low of 17,969.60.

For today, expect some consolidation around these levels with stocks specific movements of the day.

In terms of sectoral indices, on BSE, the Metal index slipped by nearly 300 points, while the Bankex shed over 230 points. However, the IT index gained nearly 185 points.

Top bulls on Sensex were – HCL Tech, NTPC, HDFC, Sun Pharma, Tech Mahindra and Dr Reddy’s Lab.

Top bears on Sensex were – Tata Steel, Bajaj Finance, Asian Paint, Kotak Bank, Bajaj Finserv and ICICI Bank.

Corporate results for today are – Delta Corp, Atharv Enterprises, Danube Industries, Earum Pharmaceuticals, Ganesh Housing Corporation, Gayatri Tissue & Papers, Hathway Bhawani Cabletel & Datacom, Integra Garments And Textiles, JTL Infra, Katare Spinning Mills, Madhusudan Industries, National Standard (India), NR International, Radhe Developers, Sanathnagar Enterprises, and Vikas Proppant & Granite.