Markets trade lower with Nifty around 17,200; IT sector climbs ahead of TCS results

10 Oct 2022 , 02:00 PM

Domestic benchmark indices recovered from day’s low and still trading in the red on Monday’s market session as auto stocks weigh down the most. Both the Sensex and Nifty benchmarks were marginally lower after US Job data showed signals of persistency with aggressive rate hike by US Fed in next meeting in November.

Domestically, corporate earnings will be among the major drivers for markets in the next few weeks, with IT giant TCS is set to kick off earnings season when it reports quarterly results later in the day.

On the sectoral front IT index outperformed counterparts by rising marginally while auto, banking and metal index continued to remain under pressure.

At around 2:00 PM, Sensex was trading at 57,922.54 lower by 268.75 points or 0.46%. Nifty 50 traded at 17,231.35 higher 83.30 points or 0.48%.

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Top Bulls on NSE are: Axis Bank(+1.92%), TCS (+1.57%), Eicher Motors (+0.75%) supported by HDFC Life (+0.62%) and Maruti Suzuki (+0.47%). Meanwhile, top losers on NSE are: Tata Motors (-3.98%), Hero MotoCorp (-2.66%), Tata Consumers (-2.54%), Asian Paints (-1.82%) and ITC (-1.72%).

Furthermore, rupee falls to fresh record low and slipped to 82.64 against the US dollar. Meanwhile, after rising for five consecutive days, oil prices took a pause on Monday amid profit bookings.

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