Markets trade volatile; Banking -; Financial, FMCG drag while metal stocks outperform

21 Mar 2022 , 09:42 AM

Sensex and Nifty 50 traded flat during Monday’s opening bell weigh down by banking, financials and FMCG sectors while metal stocks outperformed counterparts tracking mixed global cues. Investors are betting cautiously as oil prices climbs to $109.89 a barrel due to the pressure from Ukraine conflict.

Further as per media reports, the price of diesel sold to bulk users has been hiked by about Rs25 per litre in line with a near 40% rise in international oil prices, but retail rates at petrol pumps remain unchanged.

Meanwhile, latest data from the RBI stated that the country’s foreign exchange reserves declined USD 9.646 billion to USD 622.275 billion in the week ended March 11.

At around 9:45 AM, Sensex was trading at 57,944.60 up by 80.67 points or 0.14%. The index has touched an intraday high and low of 58,127.95 and 57,754.36 respectively.

Nifty 50 performed at 17,326.60 higher by 39.55 points or 0.23%. The index has touched an intraday high and low of 17,353.35 and 17,255.70 respectively.

In terms of sectoral indices, the NSE Metal index surged more than 130 points or 2%.

Top Bulls on Nifty50 were – Hindalco, Maruti, Wipro, Tata Steel and ONGC.

Top Bears on Sensex were – Asian Paints, Kotak Bank, Britannia, Hindustan Unilever and Shree Cements.

Today, Reliance Industries, Maruti Suzuki stocks will be focus as Reliance Retail acquires 89% stake in intimate wear maker Clovia and Maruti Suzuki finally announced the investment of Rs10,400 crore to build EVs in India. On NSE, the stocks of Maruti Suzuki were trading higher by 3% at Rs7,925 per share.

Furthermore, FMCG index logs profit booking due to the ongoing Russia-Ukraine war, hindered investors sentiments as the announcement of FMCG makers to go around 10% hike to mitigate infationary pressure risks the appetite for the sector.