Markets trade higher; Sensex jumps 350 pts, Nifty 50 over 17,600; ONGC, JSW Steel top gainers; Infosys in focus

13 Apr 2022 , 09:36 AM

Indian markets opened on a positive note on Wednesday and made a notable recovery from previous bearish session. However, the ongoing sea-saw battle of brent crude oil prices are affecting investors globally where the prolonged crises between Russia and Ukraine have left markets on a global level in a frantic state.

At home, markets made massive gains due to positive cues with all sectoral indices trading in the green. Also, the performance comes as investors’ sentiments shifts to quaterly earnings for financial year 2022.

Further, Country’s retail inflation jumps to 17-month high of 6.95% in March due to rising food and oil prices, acording to government released data on Tuesday.

At around 09:35 AM, Sensex was trading at 58,928.63 higer by 352.26 points or 0.60%. The benchmark has touched an intraday high of 58,958.25.

Nifty 50 soared by 103.35 points or 0.59% and was trading at 17,633.65. The index has climbed to an intraday high of 17,640.15.

All indices listed on NSE platform had advanced. ONGC was the top gainer soaring by 2.6% followed by JSW Steel surging 2%. Stocks like Apollo Hospitals, Tata Steel and Coal India zoomed 1.5% each.

In terms of sectoral indices, on NSE, Metals outperformed to surge over 1.4% followed by banking, IT, auto, realty drive the bullish trade.

Today, Infosys stocks in focus as the IT-giant is all set to announce its quaterly results later today. 

On the global front,  Asian indices opened in the green led by the Japanese ‘Nikkei’ as strong US futures coupled with the reopening of China after Covid restrictions eased saw demand for stocks rise. Export oriented stocks saw a jump with technology spending set to rise which saw the “Nikkei’ trade higher by 300 points joined by a strong show by South Korea & Taiwan markets.