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    Opening Bell: Maruti Suzuki, Hero MotoCorp biggest gainers as Nifty reclaims 16,300 in volatile market

    Opening Bell: Maruti Suzuki, Hero MotoCorp biggest gainers as Nifty reclaims 16,300 in volatile market

    Opening Bell: Maruti Suzuki, Hero MotoCorp biggest gainers as Nifty reclaims 16,300 in volatile market
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    By CNBCTV18.com  IST (Updated)

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    Opening Bell: Sensex, Nifty opened with nominal gains on Monday with Nifty above 16,300, tracking mixed Asian cues, but pared opening gains to turn volatile soon after. Metal stocks took a beating on the increase in steel export duty. Tata Steel was the biggest laggard on Nifty, nosediving 10 percent while ITC was down 1.8 percent. JSW Steel fell over 5 percent while Hindalco fell over 2 percent.

    Indian equity benchmark indices opened with nominal gains on Monday with Nifty above 16,300, tracking mixed Asian cues.  The US Fed’s meeting minutes on Wednesday remains on investors' radar for cues on whether the central bank can curb inflation without denting the economy.
    At 09:16 am, the Sensex was up 288.99 points or 0.53 percent at 54,615.38, and the Nifty was up 77.80 points or 0.48 percent at 16,344.
    About 1,563 shares have advanced, 531 shares declined, and 98 shares are unchanged.
    Maruti Suzuki, Hero MotoCorp, NTPC, Mahindra & Mahindra were among major gainers on the Nifty.
    On the flip side, metal stocks slumped on the increase in steel export duty. Tata Steel was the biggest laggard on Nifty, nosediving 10 percent while ITC was down 1.8 percent. JSW Steel fell over 5 percent while Hindalco fell over 2 percent.
    The broader markets were trading mixed with the BSE MidCap rising 0.16 percent while the SmallCap index fell 0.11 percent.
    Amid sectoral indices, Nifty Metals plunged over 6 percent, while auto index led the gains, up over 2 percent. Realty and consumer durables were other gainers. While, Nifty IT and financials held muted gains.
    Logistics giant Delhivery is likely to make its debut on Tuesday, while markets may face bouts of volatility due to the monthly F&O expiry on Thursday.
    Among stocks, Zomato, Divis Labs, Century Textiles, and Data Patterns will be in focus ahead of their fourth quarter results today.
    Global Markets
    Asian markets were trading mixed on Monday morning. Nikkei rose 0.88 percent, Kospi and S&P/ASX 200 gained up to 0.5 percent. Shanghai Composite, Shenzhen Composite and Strait Times were trading flat while Hang Seng opened 0.5 percent down.
    Meanwhile, oil prices remain elevated, trading up to 0.8 percent higher in early deals. Brent Crude and WTI were at $113 and $111 a barrel, respectively.
    Fears of recession propelled the S&P500 briefly into a bear market on Friday before it closed flat. Some recovery also led the Dow to close unchanged, while the Nasdaq fell 0.3 percent. However, stock futures in the US gained over 1 percent on Monday.
     
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