4 days ago

Stock market midday report: Sensex up 620 points, Nifty around 16,022

Sensex is now trading at 53,550.06, up 619.75 points or 1.17%
Nifty is presently trading at 16,021.70, up 213.70 points or 1.35%
Asian markets were trading in green

Indian equity benchmarks remained strong in the afternoon session due to heavy buying and positive cues from other Asian markets. The Ministry of Finance said in its latest monthly economic report that India’s inflation trajectory in the coming months will be influenced more by the geopolitical situation due to the war in Europe and its impact on supply chains and commodity prices.

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The Sensex is now trading at 53,550.06, up 619.75 points or 1.17% after fluctuating between 53,131.69 and 53,625.25. On the index, 25 stocks advanced while 5 stocks declined.

The broader indexes were trading in negative territory, with the BSE Midcap index up 2.18% and the Small-cap index up 2.18%. On the BSE sectoral front, Auto was up by 3.42%, Industrials was up by 3.11%, Consumer Durables was up by 2.43%, FMCG was up by 2.43% and Capital Goods was up by 2.41%, while Telecom was down by 0.71% was the only losing index on BSE.

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The top gainers on the Sensex were Titan Company up by 4.09%, Mahindra & Mahindra up by 3.56%, Sun Pharma up by 3.46%, Larsen & Toubro up by 3.06% and Hindustan Unilever up by 2.84%.

Among the losers were NTPC down by 2.69%, Bharti Airtel down by 1.23%, ICICI Bank down by 0.58%, Power Grid down by 0.53% and Tech Mahindra down by 0.05%.

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The Nifty is presently trading at 16,021.70, up 213.70 points or 1.35% after fluctuating between 15,886.60 and 16,032.30. On the index, 45 stocks advanced and 5 stocks declined.

The top gainers on Nifty were Tata Motors up by 9.29%, Titan Co up by 4.12%, Mahindra & Mahindra up by 3.66%, and Sun Pharma up by 3.56% and Bajaj Auto up by 3.46%. Among the losers were NTPC down by 2.59%, Bharti Airtel down by 1.16%, Hindalco down by 1.05%, ICICI Bank down by 0.56% and Power Grid down by 0.38%.

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Asian markets were trading in green Nikkei 225 gained 640.33 points or 2.49% to 26,389.05, Taiwan Weighted advanced 210.45 points or 1.35% to 15,827.13, Hang Seng surged 387.02 points or 2% to 19,767.36, Jakarta Composite jumped 7.04 points or 0.11% to 6,606.88, KOSPI soared 46.79 points or 1.83% to 2,596.87, Straits Times rose 34.67 points or 1.1% to 3,199.85 and Shanghai Composite advanced 17.13 points or 0.56% to 3,072.12.

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Stock market midday report: Sensex up 620 points, Nifty around 16,022

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