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Midday report: Sensex falls 312 points, Nifty down 98 points
- The Sensex was trading at 61,437.63 down by 312.97 points or 0.51%
- The Nifty was trading at 18,245.30 down by 98.60 points or 0.54%
- Asian markets were trading lower on Friday
Indian equity benchmarks were trading lower in Friday’s afternoon session following weak cues from global markets. Sentiments were dampened by Moody’s Investors Service which said that weak growth in advanced economies, consistent inflationary pressures, the Ukraine conflict, tight financial conditions, and a lower growth forecast for China will lead to an unfavorable environment for emerging markets in 2023.
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The Sensex was trading at 61,437.63 down by 312.97 points or 0.51% after trading in a high-low range of 61,929.88 and 61,357.70. On the index, only 6 stocks were advancing against 24 declining.
The broader indices were trading red with the BSE Midcap index down by 0.59% and the Small-cap index down by 0.43%.
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The top losing sectoral indices on the BSE were Consumer Durables down 0.96%, Auto 0.89%, Capital Goods 0.75%, Realty 0.71%, and Commodities 0.66%. While there were no gaining sectoral indices on the BSE.
The top losers on the Sensex were Mahindra & Mahindra down by 2.38%, Bharti Airtel 1.09%, Bajaj Finance 1.05%, Titan Company 0.96%, and IndusInd Bank 0.91%. On the flip side, Axis Bank up by 0.66%, Kotak Mahindra Bank 0.57%, Hindustan Unilever 0.27%, and SBI 0.02% were gainers on the index.
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The Nifty was trading at 18,245.30 down by 98.60 points or 0.54% after trading in a high-low range of 18,394.60 and 18,220.95. On the index, only 7 stocks were advancing, against 42 stocks declining and 1 stable on the index.
The top losers on Nifty were Mahindra & Mahindra down 2.57%, Coal India 1.68%, ONGC 1.54%, Britannia Industries 1.21, and Bajaj Finance 1.20%. While Axis Bank up 0.73%, Kotak Mahindra Bank 0.52%, Tata Motors 0.37%, Divi’s Lab 0.33%, and Hindustan Unilever 0.20% were the top gainers on the index.
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Asian markets were trading mostly lower, Nikkei 225 fell 0.11%, Shanghai Composite fell 0.39%, KOSPI Composite rose 0.06%, and Hang Seng slipped 0.48%.
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