Markets trade higher on broad-based buying; Sensex tops 380 pts, Nifty above 17,750

27 Oct 2022 , 09:30 AM

Indian markets cruised on a higher altitude in the opening bell of Thursday on the day of monthly futures & options contracts expiry. Benchmarks Sensex and Nifty 50 defied weak global cues sentiments. Metal, oil & gas stocks drive the performance, while IT, pharma and banking also supported the sentiments. Sensex has surged to near 60,00-level and Nifty 50 even topped the 17,780-mark so far in the trading session.

At around 9:31 AM, Sensex was trading at 59,928.87 up 384.91 points or 0.65%. The index has touched an intraday high of 59,959.94.

Nifty 50 traded at 17,770.80 up 114.45 points or 0.65%. The benchmark has clocked the day’s high of 17,783.90.

Tops bulls on Nifty were – JSW Steel soaring nearly 3% followed by Hindalco climbing nearly 2.21%. Stocks like Kotak Bank, HDFC, Titan Cipla, Sun Pharma, Dr Reddy’s jumped between 1.5-2%.

Top bears on Nifty were – NTPC diving by 0.62% followed by ITC slipping over 0.42%. Stocks like Maruti Suzuki, Eicher Motors and TCS dropped marginally%.

On BSE, the metal and oil & gas index has advanced by nearly 120 points and 70 points. Banking and Pharma stocks zoomed by more than 0.5% each.

On Asian market, the market opened in the green led by the South Korean & Taiwan markets which had got deeply oversold & now are seeing value buying emerge.

On Wall Street, US markets logged two volatile days as weak earnings guidance by Microsoft & Amazon sees Nasdaq give up gains to close lower by 200 points while Dow Jones closes flat, however the index has gained over 6% from the recent lows in late September.

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