In the afternoon session, Indian stocks continued to trade in the red due to a lack of purchasing in frontline counters, with the Sensex and Nifty trading below 60,400 and 18,050, respectively. The World Bank’s report stated that interruptions in commodity supply, financial constraints, and increased prices are among the effects of the Ukraine war that may impede Asian economies in the coming months. Additional pressure was put as official statistics revealed that India’s trade imbalance increased 87.5% to $192.41 billion in 2021-22, up from $102.63 billion the previous year.

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On the global front, Asian markets were trading higher with Nikkei 225 surging 51.51 points or 0.19% to 27,787.98, KOSPI rose 1.30 points or 0.05% to 2,759.20, Straits Times advanced 15.03 points or 0.44% to 3,432.00 and Jakarta Composite was up by 7.16 points or 0.1% to 7,123.38.

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The Sensex is now trading at 60,364.35, down 247.39 points or 0.41% after fluctuating between 60,227.36 and 60,786.07. On the index, there were 20 stocks that advanced and 10 stocks that declined.

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The broader indices were trading in green with the BSE Midcap index rising 0.86%, while the Small cap index was up by 1.45%. The top gaining sectoral indices on the BSE were Consumer Durables up by 2.03%, Utilities up by 1.58%, Power up by 1.50%, Auto up by 1.45%, Industrials up by 1.44%, while Bankex down by 0.64% and Realty was down by 0.62% were the only losing indices on BSE.

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The top gainers on the Sensex were Titan Company up by 1.97%, ITC up by 1.27%, NTPC up by 1.25%, Mahindra & Mahindra up by 1.20% and TCS was up by 1.08%. On the flip side, HDFC Bank was down by 2.59%, HDFC was down by 1.77%, Bajaj Finserv down by 1.70%, Reliance Industries down by 1.46% and Bajaj Finance was down by 1.28% were the top losers.

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The Nifty is presently trading at 18,003.35, down 50.05 points or 0.28% after moving in a range of 17,961.10 to 18,089.70. On the index, there were 33 stocks that advanced and 17 stocks that declined.

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The top gainers on Nifty were Eicher Motors up by 3.30%, Adani Ports up by 3.02%, Tata Motors up by 2.46%, Titan Company up by 1.97% and Shree Cement was up by 1.94%. On the flip side, HDFC Bank was down by 2.67%, HDFC was down by 1.83%, Bajaj Finserv down by 1.79%, Reliance Industries down by 1.49% and Bajaj Finance was down by 1.28% were the top losers.