Opening Bell: Markets gain big, as crude oil price falls; Auto, Metal, Banks stocks shine!
On Thursday morning, the benchmark equity indices were trading higher as the Asian Pacific markets rose slightly owing to reduced oil prices. Crude oil is trading lower by 2% at USD 104 per barrel.
As countries all over the world are staring at the face of the impending recession, the Federal Reserve Chairman has hinted that there might be a possibility of recession if the inflation doesn’t reduce fast in a short period.
The US equity indices S&P 500 and Nasdaq were also trading lower by 0.13 and 0.15%, respectively. Whereas the US bond yields also dipped and were trading at 3.14%.
The Sensex is at 52,384.62, up by 568.60 points or 1.10% points whereas the Nifty 50 is at 15,590.60 up by 177.30 points or 1.15%, since the last trading session. Nifty Bank was also up, by 1.7% and trading at 33.392.95. BSE Midcap was trading at 21,460.3 up by 1.33% and BSE Smallcap was at 24,151.36, up by 1.24%.
The top gainers on the frontline indices this morning were Hero Motocorp, Maruti Suzuki, Tata Motors, Asian Paints, ICICI Bank, and Bharti Airtel. Whereas the top losers were Power Grid Corporation Of India, Titan Company, and Apollo Hospitals.
On the BSE,2,168 shares have advanced, 709 shares have declined and 102 shares are unchanged. Also,139 stocks have hit their upper circuit and 145 stocks have hit their lower circuit.
The top trending stocks on BSE, this morning are Muthoot Finance, NALCO, Chambal Fertilizers and Chemicals, Vedanta, UPL, IRB Infrastructure and Developers
On the sectoral front, Oil & Gas, Auto, Media, Metal and Private Bank sectors were seen gaining over 2% in the morning. Overall the sectors were trading in the green territory.
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