Opening bell:Markets open higher as US inflation data turns out better than expected

Opening Bell.

Indian Market
by 5paisa Research Team Last Updated: 2022-08-11T10:27:33+05:30

IT, realty and consumer durables stocks gain in the morning trade!

On Thursday morning, the benchmark equity indices opened in the green as the Asia Pacific markets rose by a per cent due to better-than-expected US Inflation data.

 The Consumer Price inflation in the US rose by 8.5% in July compared to the same period in the last year. The Hang Seng index rose 1.63%, with the Hang Seng Tech index also gaining by 1.66%.

The US equity indices, The Dow Jones and S&P 500 gained by 1.63% and 2.13%, respectively, whereas the tech-heavy Nasdaq index ended marginally higher on Wednesday’s session.

The Sensex is at 59,320.45 up by 503.16 points or 0.86% whereas the Nifty 50 is trading at 17,711.65 up by 176.90 points or 1.01%, since the last trading session. Nifty Bank was also up and trading higher by 1.11% at 38,712.95.

BSE Midcap was trading at 24,689.12 up by 0.67% and BSE Smallcap was at 27,813.73 up by 0.57%. The top gainers of BSE Midcap were Info Edge, Indraprastha Gas, New India Assurance Company, AU Small Finance Bank, and Mphasis. Whereas the shares of SAIL, JSW Energy, Bayer CropScience, Bajaj Holdings, and Cummins India were pulling down the index.

The top gainers on the frontline indices this morning were Tech Mahindra, Wipro, Infosys, IndusInd Bank, and TCS. Whereas the top losers were UltraTech Cement, Hindalco Industries, Tata Consumer Products, SBI Life Insurance Company, and Divi’s Labs

On the BSE, 1712 shares have advanced, 598 hares have declined and 99 are unchanged. Also,107 stocks have hit their upper circuit and 52 stocks have hit their lower circuit.

The top trending stocks on BSE, this morning are Bharat Electronics, Coal India, Eicher Motors, ICICI Bank, J K Paper, TVS Motor Company, Metro Brands, and Schaeffler India.

On the sectoral front, BSE IT index is up by 1.90%, BSE Realty is up by 1.1%, and BSE Private Bank is up by 1.05%, BSE Consumer Durables is up 0.98%, is trading almost a per cent higher on the bourses.

Bata India, BPL, Bharat Forge, Greaves Cotton, Page Industries, and Bajaj Electricals, are some of the major companies that are going to report their results for Q1FY23 today.


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