Markets trade higher; Sensex jumps 270 pts, Nifty 50 over 17,500

19 Oct 2022 , 09:40 AM

Indian markets traded on a positive tone on Wednesday led by broad-based buying with major stocks in the green. The domestic equities rallied despite mixed global cues. Among the sectors, banking, auto, pharma were marginally higher while the IT, metal indices under pressure. 

In the early openings, Sensex hit an intraday high of 59,343.03 while Nifty 50 rose to at least the day’s high of 17,585.40.

At around 09.39 AM, Sensex was performing at 59,239.84 up 279.24 points or 0.47%. Nifty 50 traded at 17,556.25 higher by 69.30 points or 0.40%.

On NSE, the Bank Nifty surged more than 180 points followed by auto, financials stocks.

Top gainers on Nifty were – HDFC led the bull charge surging by 2.76%. HDFC Bank, Cipla, Power Grid, Bajaj Auto jumped around 1.5% each.

Stocks like Axis Bank, Dr Reddy, Britannia, Asian Paints, Maruti Suzuki also contributed substantially to the upside.

Top bears on Nifty were – JSW Steel, Tata Steel, SBI, Hindalco, ONGC were in the downside however at a slower pace.

On the Asian front, markets opened in the green led by the Japanese “Nikkei’ which was up over 200 points in early trade as markets consolidated the recent gains. Most broader Asian indices traded mixed as investors weighed the recent run up with most opting to book profits.

US markets witnessed another volatile day as Dow Jones gains over 650 points before profit booking sees day end with gains of 335. Nasdaq also closes higher by 97 before seeing intra day gains of over 300.

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