Markets trade flat amid mixed global cues with Nifty below 18,200

22 Nov 2022 , 09:38 AM

The volatility continued on Tuesday in the opening bell amid mixed global cues. Sensex was pushed off the cliff to the point it was even below 61,200-level. Nifty 50 has even erased 18,200-mark so far today. A broad-based selloff was recorded in the sectoral indices with FMCG, IT, metal, realty stocks being the worst hit. The domestic equities tracked weak global cues. 

At around 9:38 AM, continued to maintain their volatile trend. Sensex performed at 61,119.95 down by 24.89 points or 0.04%. Nifty 50 performed at 18,151.95  down 8 points or 0.04%. 

Except for auto and PSU Banks, all other sectoral indices were under pressure. On NSE, the IT index dived above 100 points while the metal, pharma, realty index fell marginally. The PSU Bank index outperformed by surging around 1%.

Larsen & Toubro was the top gainer soaring by 0.7% followed by Ultratech Cement and Dr Reddy’s surging by 0.6% each on Nifty.

IndusInd Bank and Maruti Suzuki gained by 0.5% each.

On the bears front, on Nifty, ONGC took lead by plunging 0.7% followed by TCS, Power Grid and JSW Steel shedding 0.68% each. Wipro, TCS, HCL Tech, Coal India dipped between 0.4-0.6%.

On the global front, Asian markets opened in the green led by the Japanese ‘Nikkei’ which was up over 200 points in early trade. Most other Asian indices traded sideways as China concerns on real estate lending saw caution in Chinese lenders.

Overnight, on the Wall Street, US markets see another day of volatile swings as markets consolidate with global growth concerns seeing oil hit 10 month lows as Brent trades near US$ 83.

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