Markets trade higher; Nifty around 18,000-mark

16 Jan 2023 , 09:36 AM

Indian markets were trading positive on Monday’s early trading session as investors await major Q3 corporate earnings. Volatility is seen among sectoral indices where IT, Auto and metals witnessed selling pressure from the investors. However, banking, financial services, pharma and PSU bank indices traded higher.

At around 9:35 AM, Sensex was trading at 60,388.38 up by 127.2 points or 0.21%. Nifty 50 performed at 17,988.25 higher by 31.65 points or 0.18%.

In terms of sectoral indices, on NSE, the Banking index surged over 220 points. The PSU Banks and Financial index jumped between 0.5-0.8%. The IT, Auto, Metal, Media indices under selling pressure.

Gainers on Nifty were – Bajaj Finserv, Bajaj Finance, HDFC life, HDFC Bank and SBI gaining between 0.7-1.5%.

Losers on Nifty were – JSW Steel, BPCL, Tata Motors, Tata Steel and M&M slipped between 0.5-1.2%.

Today, Federal Bank to be in focus ahead of quarterly earnings including Angel One, JSW Ispat Special Products, Tinplate Company of India, Kesoram Industries, Bank of Maharashtra, Shree Ganesh Remedies, and Trident Texofab will be announcing their quarterly earnings today.

Asian markets opened on a mixed note after the superb two weeks rally by most indices. The Japanese ‘Yen’ which has gained from 150 to hit 128 against the US$ is seeing weakness in Japanese exporters with the Japanese ‘Nikkei’ trading lower by 150 points. Most other Asian indices were trading higher led by the ASX, South Korean & Taiwan markets.

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