Sensex rises 150 points, Nifty above 18,250; Nifty Bank hit record high

Despite the strong but volatile global cues, Markets open is positive, Nifty banks hit record high and Indian rupee opened at 81.36 up by 55.

FPJ Web DeskUpdated: Wednesday, November 09, 2022, 09:49 AM IST
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Sensex rises 130 points, Nifty above 18,250; Nifty Bank hit record high | Representative Image

Despite strong but volatile global cues, the markets opened on a positive note with the Nifty Bank index hitting a record high and the Indian rupee opening at 81.36 to a dollar up by 55 paise.

Coal India, Nestle India, Cipla, Dr Reddy’s Labs and Adani Ports are among top gainers on the Nifty, while the top losers were Divis Labs, Hindalco Industries, Tech Mahindra, HUL and ONGC.

On Monday, Nifty closed around 86 points higher at 18,203 and BSE Sensex closed at 61,185 up by 235 points.

Indian rupee opened at 81.36 up by 55 paise against the US dollar. On Monday rupee closed at 81.91.

Global Market

SGX Nifty was trading 48 points higher on the Singapore Exchange, even the US stock market closed on a positive side on Tuesday. The US markets are reacting to the voting in midterm elections that will decide who controls the US Congress. NASDAQ went up to 101616 whereas Dow Jones was up by 1.02 per cent.

Even the Asian markets are trading on a mix note as they are awaiting the results. The Kospi index is up by 0.76 per cent whereas Nikkei dropped by 0.2 per cent.

On Tuesday oil prices fell more than USD 2 amid growing worries of fuel demand as Covid 19 outbreak goes up again in China which is currently the top crude importer.

Individual stocks

In individual stocks movements can be expected in Jubilant Foodworks as the company announced its quarterly earnings yesterday. Tata Motors, Godrej Properties, Lupin, Petronet LNG and NALCO are expected to announce their July-September earnings today.

IPOs

IPOs getting launched today include Five Star Business Finance and Archean Chemical Industries.

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