NIFTY 50 holds 22,200 levels, SENSEX trades above 73,000
Upstox
2 min read • Updated: April 18, 2024, 10:23 AM
Summary
Domestic markets opened higher, but weakness in global markets and geopolitical tensions continue to remain key concerns for investors. Oil marketing companies rise nearly 6% after Brent crude oil prices crashed 3% in a week.
Indian markets open positive, snapping a three-day losing streak. The NIFTY 50 and BSE SENSEX opened 0.4% higher on Tuesday morning. The morning gains were largely led by heavyweights in banking, auto index.
On the global markets front, the US markets closed lower amid rising concerns over delayed rate cuts. The Tech heavy Nasdaq composite closed nearly 1.8% lower, falling the most amongst all US benchmark indices. The Asian markets opened positive with marginal gains on Japanese and Chinese indices like Nikkei (+0.4%) and Shanghai Composite (+0.6%).
Amongst the sectoral indices, NIFTY Oil & Gas (+1.7%) and NIFTY Bank (1.6%) are the top gainers, while NIFTY FMCG (-0.2%) and Pharma (-0.1%) were the top sectoral losers.
The broader indices continue to rally further as the NIFTY midcap 100 and NIFTY Smallcap 100 are trading positive on Thursday morning with 0.5% and 0.8% gains, respectively. The NIFTY Smallcap index is nearly 200 points away from its all-time high of 16,664.
On Tuesday, FIIs sold equities worth ₹4,468 crore, while domestic institutional investors bought Indian equities worth ₹2,040 crore.
Top trending stocks
Oil marketing companies like Bharat Petroleum (+3.6%), Hindustan Petroleum (+5.4%) and Indian Oil Corporation (2.8%) are trading higher after Brent crude oil prices fell by nearly 3% from the recent tops of $92/barrel.
Bajaj Auto (+1.4%), HDFC Life (+2.8%) and Infosys (+0.3%) are trading positive ahead of their quarterly earnings release later today.
Ambuja Cements opened nearly 3.5% higher on Thursday after Adani group fully subscribed to their warrants programme. The group's total investment in the company now stands at ₹20,000 crore.