Nifty rises 0.7% to 22,982; Sensex edges up amid mixed global cues and Q4 results anticipation

NSE Nifty was up by 0.7 per cent or 14 points to 22,982, while the BSE Sensex was at 75,442 up by 0.03 per cent or 24.45 points.

A total of 3,842 stocks were actively traded, 1,876 advanced, while 1,826 declined and 140 stocks remained unchanged where 195 stocks hit a 52 week high and 21 stocks hit a 52 week low at 1 pm on the BSE.

Avdhut Bagkar Technical and Derivatives Analyst, StoxBox, said, “On the global front, US Stocks moved mostly higher at the start of trading on Thursday but failed to sustain the initial upward move and came under pressure over the course of the session. The major averages pulled back well off their session highs and into negative territory.

After reaching record intraday highs, the Nasdaq fell. Meanwhile, Asian markets were mostly in the red zone; however, they pared partial weakness and recovered from lower levels. On the commodity front, oil prices remained stable as market participants assessed the US Federal Reserve’s recent remarks on interest rates in light of persistent inflation concerns.

On the domestic front, after a record-breaking gain of over 1.5 per cent yesterday, the bulls were eyeing further milestones in trades today on the BSE Sensex and the NSE Nifty. The Nifty 50 index, in particular, was within striking distance of the 23,000 landmark. However, with the global mood turning sour, the Indian stock market may also witness some profit-taking today. Going forward, the investors await the Q4 results of major players such as Hindalco Industries, Hindustan Copper, Glenmark Pharma, Ashok Leyland, NTPC, Bosch, Bajaj Healthcare, Cochin Shipyard, Suzlon Energy, Nazara Tech, and United Spirits, among others.”

Top gainers on the NSE at 1 pm include, BPCL (1.47 per cent), Ultratech Cement (1.24 per cent), Adani Enterprises (1.17 per cent), L&T (1.09 per cent), Bharti Airtel (1.03 per cent). Major losers include, Apollo Hospitals (-1.17 per cent), TCS (-0.91 per cent), Hero Motocorp (-0.78 per cent), ITC (-0.73 per cent), Sun Pharma (-0.60 per cent).

BSE Smallcap was up by 0.46 per cent and BSE Midcap was up by 0.77 per cent indicating gains.

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