Markets trade volatile amid mixed global cues; FMCG rises; IT, auto, metals worst hit

2 Aug 2022 , 09:35 AM

Indian markets traded on a muted level led by Asian counterparts having mixed sentiments on Tuesday. Back at home, Sensex and Nifty 50 were dragged by broad-based selling pressure amid monthly business performance and June 2022 quarterly earnings. Meanwhile, India’s Manufacturing PMI has risen to a 8-month high in July this year gives hope to boost the markets outlook. Also, GST collection jumped 28% yoy in July to second highest ever at Rs1.49 trillion.

Furthermore, Consolidation is expected in domestic equities today with weak global cues due to cautious tone from investors.

At around 9:36 AM, Sensex is trading at 58,026.91 down 88.59 points or 0.15%. Nifty 50 performed at 17,296.80 down by 43.25 points or 0.25%.

Top bulls on Nifty were – ITC soaring by 3% followed by Asian Paint surging over 1.6%. Hindustan Unilever jumped nearly 1.4%, while Nestle India and Britannia climbed more than 1% each.

Top bears on Nifty were – Eicher Motors and UPL tumbling around  4% each followed by Hindalco plunging 2.8%. Hero MotoCorp and ONGC are 2.5% down each.

Major companies like Bosch, Indus Towers, Siemens, Adani Green Energy, Bank of India, Voltas, Brigade Enterprises, Deepak Nitrite, Gati, Godrej Properties, Schneider Electric Infrastructure, Thermax, Tube Investments of India, Vaibhav Global will be in focus today ahead of their Q1 earnings.

In terms of sectoral indices, on NSE, the FMCG index outperformed the counterparts by surging over 380 points. However, Banking, auto, IT, metal stocks tumbling marginally to 1% to drag the overall markets.

On a global front, Asian markets opened weakly as profit booking was seen across the board led by the Japanese ‘Nikkei’ which was down over 350 points in early trade.

Overnight, US markets logged another volatile day with Dow Jones swinging over 332 points in intra day trade before closing lower by 47.Nasdaq also gyrates over 228 points before closing lower by 22.