Opening bell: Strong gains are seen in barometers, indicating strong market breadth

Opening bell: Strong gains are seen in barometers, indicating strong market breadth

by 5paisa Research Team Last Updated: Dec 12, 2022 - 12:32 pm 27k Views
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On optimistic global cues, Indian markets start the day in the green. 

In early trade, domestic equities indices pushed higher, matching advances in their Asian counterparts. Nifty was hovering above 16,300 points. The charge was driven by equities in information technology, banking, financials, and automobiles.

The top Nifty gainers were Tech Mahindra (up 3.24 percent), Infosys (up 2.99 percent), HCL Tech (up 2.93 percent), Wipro (up 2.68 percent), and IndusInd Bank (up 2.38 percent). The top Nifty laggards were ONGC (down 2.44 percent), Asian Paints (down 1.06 percent), NTPC (down 0.84 percent), and Power Grid Corp (down 0.73 percent). 

At 9:40 AM, the Sensex has soared by 458 points and is trading at 54,711.03 levels. The BSE MidCap also jumped by 225 points and is trading at 22,368.78 levels, while SmallCap has climbed by 366 points and is trading at 25,684.40 levels. The stocks trading in green on the BSE Sensex are Induslnd Bank, HCL Technologies, Bajaj Finance, Tech Mahindra, and Bajaj Finserv. 

The Nifty 50 index similarly opened on a positive note gaining 132 points and is now trading at 16,302.40 levels. Bank Nifty traded in green, up by 396 points at 35,491.35 levels. The gainers on Nifty 50 are HCL Technologies, Bajaj Finance, Induslnd Bank, Tech Mahindra, Coal India, and Induslnd Bank. 

On the Sensex, outlook is positive as 2114 and only 560 stocks have declined in the morning session. Whereas, there are 116 stocks locked up in upper circuit and 109 stocks are locked in the lower circuit today, 27 stocks are trading at 52-week high and 28 stocks that are trading at a 52-week low. 

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