Markets trade positive as IT, Auto index outperform; Sensex over 61k, Nifty 50 around 18,100-levels

1 Nov 2022 , 09:32 AM

Indian markets began this month on a positive note driven by broad-based buying across sectors. Sensex was racing towards earmarking the 60,000-mark again, while Nifty 50 has touched over 18,000. IT and Auto stocks outperformed, while substantial gains were added by banking, pharma and metals.

Domestic equities tracked a broader upside in the Asian cues and highest peak of Wall Street. Major corporate earnings and economic data will be influencing markets sentiments.

At around 09:36 AM, Sensex was trading at 61,054.70 up by 308.11 points or 0.51%. The index has touched an intraday high of 61,124.89. Nifty 50 performed at 18,102.40 higher by 90.20 points or 0.50%. The index has clocked an intraday high of 18,130.70.

On a sectoral indices basis, on NSE, the IT index soared over 230 points, while the auto climbed more than 100 points. The Nifty Bank and Pharma jumped by 170 points and 160 points respectively.

Top bulls on Nifty were – Power Grid soaring nearly 2.2% followed by Dr Reddy’s, Apollo Hospitals, SBI Life, Hindustan Unilever, Grasim, NTPC, TCS and Infosys surging between 1-2%.

Top bears on Nifty were – Tata Steel plunging over 1.8% and L&T, Axis Bank tumbling over 1.1% each. Coal India dipped 1%, while Bharti Airtel slipped 0.7%.

Major Q2 results like Sun Pharma, Adani Ports and Special Economic Zone, Tech Mahindra, UPL, Punjab National Bank, FSN E-Commerce Ventures (Nykaa), Karnataka Bank, LIC Housing Finance, Chambal Fertilisers & Chemicals, Cholamandalam Investment and Finance Company, CMS Info Systems, Dhanuka Agritech, JK Tyre & Industries, Kansai Nerolac Paints, Macrotech Developers, Tata Investment Corporation, Varun Beverages, Voltas, and Whirlpool of India. among others, are scheduled for today.

Markets performance comes amid monthly auto sales and metal productions figures for October 2021. Further, traders eye the Markit Manufacturing PMI and Markit Services PMI data.

On the global front, Asian markets opened in the green led by the ASX & Japanese markets which edged into the green after a weak open.

Overnight, on the Wall Street, US markets logged best ever returns in October as Dow Jones climbs over 12%. Profit booking sees 128 loss on last day of October in Dow while Nasdaq falls 110 points.

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