scorecardresearchMarket Open: Sensex climbs 127.48 points to 61,465.29 in early trade; Nifty advances 37.85 points to 18,306.85

Market Open: Sensex climbs 127.48 points to 61,465.29 in early trade; Nifty advances 37.85 points to 18,306.85

Updated: 19 Dec 2022, 10:23 AM IST
TL;DR.
Sensex climbs 127.48 points to 61,465.29 in early trade; Nifty advances 37.85 points to 18,306.85
During the day, the Sensex hit a new high of 62,412.33, while the Nifty was just a few points away from its record high of 18,604.45 (Mint)

During the day, the Sensex hit a new high of 62,412.33, while the Nifty was just a few points away from its record high of 18,604.45 (Mint)

(Reuters) -Indian shares opened little changed on Monday as hopes of demand recovery in China were offset by jitters over a potential global recession.

The Nifty 50 index was up 0.01% at 18,268.60, as of 09:30 a.m. IST, and the S&P BSE Sensex opened 0.03% higher to 61,366.56.

The information technology stocks fell 0.5% after Accenture Plc forecast lower-than-expected sales for the upcoming quarter.

Among individual stocks, Sun Pharma fell nearly 2% after receiving a warning letter from the U.S. Food and Drug Administration for Halol facility in Gujarat. The stock was the top loser on the pharma index, which fell 0.5%.

Dilip Buildcon surged over 3% on securing an order worth 16.47 billion rupees.

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Asian markets reversed early gains as recession fears soured sentiment, with the MSCI Asia ex Japan falling 0.24%.

Major central banks including the U.S. Federal Reserve and the European Central Bank hiked rates last week and signalled a prolonged rate-hike cycle, triggering fears over the impact on the global economy.

Reports say that China planned to increase flights to encourage the recovery of its air transport market. The decision comes after the world's second-largest economy eased several restrictions from its zero-COVID policy last week.

First Published: 19 Dec 2022, 09:43 AM IST