Indian equity benchmarks were trading slightly lower in Wednesday’s afternoon session. Traders were cautious after a statement from Chief Economic Advisor V Anantha Nageswaran that India’s real Gross Domestic Product (GDP) growth is expected between 6.5% to 7% for the current financial year 2022-23. This was the first time that a government official said the real GDP growth for this fiscal to not exceed 7%. 

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The Sensex was trading at 61,075.37 down by 109.78 points or 0.18% after trading in a high-low range of 61,447.23 and 61,043.88. On the index, only 8 stocks were advancing and 22 were declining.

The broader indices were trading mostly red with the BSE Midcap index up by 0.06% and the Small-cap index up by 0.08%.

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The top losing sectoral indices on the BSE were Healthcare down by 0.74%, Consumer Durables 0.47%, Capital Goods 0.38%, Consumer Discretionary 0.36% and Auto 0.20%. While Services up by 1.43%, Energy 0.41%, Realty 0.22%, Telecommunication 0.21%, and Utilities 0.14% were the top gaining sectoral indices on the BSE.

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The top losers on the Sensex were Power Grid Corp down by 2.89%, Tech Mahindra 1.62%, NTPC 1.31%, Bajaj Finserv 1.20% and Sun Pharma Industries 1.15%. On the flip side, ITC up by 1.23%,  IndusInd Bank 0.99%, HCL Technologies 0.92%, Dr. Reddy’s Lab 0.90%, and  Infosys 0.48% were the top gainers on the index.

The Nifty was trading at 18,177.90 down by 24.90 points or 0.14% after trading in a high-low range of 18,296.40 and 18,167.85. On the index, only 18 stocks were advancing, against 32 stocks declining.

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The top losers on Nifty were Hindalco down by 4.05%,  Divi’s Lab 2.62%, Power Grid Corp 2.92%, Grasim Industries 1.55% and NTPC 1.36%. While Adani Ports & SEZ up by 4.98%,  Coal India 3.55%,  ITC 1.23%, IndusInd Bank 1.05 and Britannia Industries 1.03% were the top gainers on the index.

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Asian markets were trading mostly lower, Nikkei 225 declined 0.56%, Shanghai Composite fell 0.50%, KOSPI Composite rose 1.06%, and Hang Sang fell 1.65%.