Markets trade volatile amid mixed global cues; Metals, IT, banking, oil -; gas drag

20 Jun 2022 , 09:34 AM

Indian markets opened with marginal gains but soon traded flat amid high volatility during opening bells on Monday tracking mixed global cues. At the domestic front, except FMCG and Healhcare stocks all the sectoral indices were trading lower. Metal, IT and oil & gas stocks underperformed the most. However, concerns about inflation, rising interest rates and the possibility of worldwide recession continue to remain in focus.

At around 9:35 AM, Sensex was trading at 51,283.31 down by 77.11 points or 0.15%. The index has touched an intraday high of 51,614.11 in early trade.

Nifty 50, meantime, was performing at 15,305.15 higher by 11.65 points or 0.08%. The index has clocked an intraday high of 15,363.10.

Nifty 50 gainers were – HDFC (+1.8%), Sun Pharma (+1.4%), Hindustan Unilever (+1.3%), Apollo Hospitals (+1.1%), HDFC Bank (+1%). Nifty underperformers were – ONGC, Coal India, Tata Steel, Hindalco, JSW Steel plunging 2-5%.

In terms of sectoral indices, on NSE, the FMCG and Healthcare stocks were marginally higher while metals nosedived 4% followed by Nifty  IT, Media, relaty and banking, oil & gas stocks.

On the global front, US markets witnessed another volatile day with Dow Jones closing in the red down 38 points while Nasdaq rises sharply to close up 1.5% or 155 points.