Indian equities pared losses but remained in the red as traders’ sentiment was frightened by expectations of a speedier rate rise in the United States. Fitch Ratings’ comment that higher budget deficits and a lack of clarity on consolidation measures in the Budget increase risks to its prediction of decreasing India’s debt-to-GDP ratio remained unfavourable to investors.

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On the global front, most of the Asian markets were trading higher with Straits Times advancing 25.68 points or 0.76% to 3,392.16, Shanghai Composite gained 0.34 points or 0.01% to 3,429.92, Taiwan Weighted strengthened 66.26 points or 0.37% to 17,966.56, Nikkei 225 surged 35.65 points or 0.13% to 27,284.52 and KOSPI was up by 2.29 points or 0.08% to 2,747.35. On the flip side, Jakarta Composite lost 9.47 points or 0.14% to 6,795.47 and Hang Seng was down by 309.58 points or 1.26% to 24,269.97.

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The Sensex is now trading at 57,535.78, down 85.41 points or 0.15% after fluctuating between 57058.77 and 57925.82. On the index, 11 equities advanced while 19 stocks declined.

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The broader indices were trading in red with the BSE Midcap index losing 0.53%, while the Small cap index was down by 1.24%. The few gaining sectoral indices on the BSE were Energy up by 0.23% and Healthcare was up by 0.04%, while Utilities down by 2.14%, Power-down by 1.97%, Capital Goods down by 1.18%, PSU down by 1.17% and Realty was down by 1.06% were the top losing indices on BSE.

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The top gainers on the Sensex were Bajaj Finance up by 2.37%, Bajaj Finserv up by 1.59%, Asian Paints up by 0.92%, Titan Co up by 0.72% and Tata Steel was up by 0.71%. On the flip side, Power Grid down by 1.50%, Larsen & Toubro down by 1.23%, SBI down by 1.16%, TCS down by 1.15% and Indusind Bank was down by 1.06% were the top losers.

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The Nifty is presently trading at 17202.05, down 11.55 points or 0.07% after trading in a range of 17043.65 and 17306.45. On the index, there were 22 stocks that advanced and 28 stocks that declined.

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The top gainers on Nifty were Bajaj Finance up by 2.54%, Bajaj Finserv up by 1.81%, Divi’s Lab up by 1.51%, Hero MotoCorp up by 1.17% and Cipla was up by 1.10%. On the flip side, Indian Oil Corporation was down by 1.71%, ONGC was down by 1.54%, Power Grid down by 1.47%, SBI Life Insurance was down by 1.45% and TCS was down by 1.08% were the top losers.