Markets trade positive; Sensex climbs 180 pts, Nifty above 17,600 on last day of Samvat 2078

21 Oct 2022 , 09:36 AM

Indian markets are trading positive during the opening bell of Friday tracking mixed global cues as today is the last day of Samvat 2078 for Indians. Further, market sentiment could get a leg up after FIIs turned net buyers of local shares in yesterday’s trade which can boost investors’ sentiment for today’s trading.

India’s volatility index plunged more than 1% currently.

However, the domestic equities are expected to record weakness in the morning session as global cues turn weak.

Markets are on a wait-and-watch mode ahead of major companies’ results which may surprise on the upside.

ICICI Bank stocks to be in focus today ahead of quarterly earnings. Further, other major companies are: IDFC First Bank, Kotak Mahindra Bank, RBL Bank, Yes Bank, D-Link (India), Dodla Dairy, Indraprastha Gas, Jaiprakash Power Ventures, MCX India, RMC Switchgears, and Sacheta Metals will be in focus ahead of quarterly earnings today.

At around 9:35 AM, Sensex was trading at 59,384.02 higher by 181.12 points or 0.31%. The index has touched an intraday high and low of 59,524.22 and 59,342.76 respectively.

Nifty 50 performed at 17,613.70 higher by 49.75 points or 0.28%. The index has touched an intraday high and low of 17,634.20 and 17,603.70 respectively.

In terms of sectoral indices, on NSE, the Banking index climbed over 300 points with auto and financial stocks on marginal upside. Meanwhile, except IT and media index all other indices trading in the green.

Top bulls on Nifty were – Axis Bank surging 3.87%. Titan also jumped over 1.3% while Hindustan Unilever, M&M, SBI Life advancing over 1% each.

Top bears on Nifty were – Bajaj Finance slipping nearly 2% followed by JSW Steel, ITC, UPL and Coal India dipped between 0.4-0.6% each.

On the global front,  Asian markets opened in the red led by muted display on the Japanese ‘Nikkei’ which was down 80 points in early trade. 

Meanwhile, overnight, on Wall Street, US markets logged another very volatile day with Dow Jones seeing intra day gains of over 400 points before closing lower by 90. Nasdaq witnessed gains of 160 before closing lower by 65.

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