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Markets trade volatile amid weak global cues; Sensex near 57,800, Nifty 50 around 17,300; IT, Healthcare worst hit; L-;T, Tata Steel top bulls

18 Feb 2022 , 10:31 AM

Bull-vs-Bear

Indian markets were in a volatile session on Friday with benchmarks Sensex and Nifty 50 trading lower. IT and healthcare stocks dragged the indices while banking stocks extended their losses. Domestic equities tracked weak global cues as the tension between Russia and Ukraine once again escalated.

At around 10.31 am, Sensex was trading at 57,829.63 lower by 62.38 points 0.1%. The benchmark has touched an intraday high and low of 57,939.65 and 57,488.39 respectively.

Nifty 50 performed at 17,286.75 below 17.85 points or 0.1%. The benchmark has touched an intraday high and low of 17,321.65 and 17,219.20 respectively.

L&T, Tata Steel, Power Grid, HDFC, NTPC and Maruti Suzuki were top bulls on Sensex.

Infosys, Ultratech Cement, Tech Mahindra, Asian Paint, Wipro, Dr Reddy’s Lab and HDFC Bank were top bears on Sensex.

In terms of sectoral indices, BSE IT and Healthcare index shed over 180 points and 160 points. The Bankex dipped marginally.

In the global markets, Asian cues geared up to price in geopolitical risk & rate hike by the Federal Reserve. The prices of gold & silver saw a further rise as haven buying saw precious metals do well. Chinese stocks will again be in the limelight as expected data on exports could see metals rally as environment issues see curtailment in local output.

Overnight, US markets see the worst day in 2022 as Dow Jones falls over 600 points while Nasdaq falls 400 points or 2.88%. Bond yields fall to 1.95% while oil sees a further fall of over 3%. This as US President keeps high rhetoric of imminent Russian attack on Ukraine denied by Russian authorities.

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