Stock market midday report: Sensex down 97 points, Nifty around 16,640
- Sensex is now at 55,828.05, down 97.69 points or 0.17%
- Nifty is presently trading at 16,644.45, down 16.95 points or 0.10%
- Asian markets were trading mostly in green on Tuesday
In the midday session, Indian equity indexes remained in the negative zone, with the Sensex and Nifty trading below 55,900 and 16,650, respectively.
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Traders were concerned after a private report stated that India’s economy expanded less than earlier projected last year, with virus restrictions in the last quarter regarded as a drag on output and the European conflict adding a fresh inflation obstacle to recovery.
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Asian markets were trading mostly in green with Hang Seng increasing 214.30 points or 1.01% to 21,338.23, Taiwan Weighted strengthened 197.15 points or 1.19% to 16,807.77, KOSPI rose 9.43 points or 0.35% to 2,679.09, Straits Times advanced 22.25 points or 0.69% to 3,261.17, Shanghai Composite gained 30.39 points or 0.97% to 3,179.45 and Jakarta Composite was up by 45.53 points or 0.65% to 7,083.10. On the flip side, Nikkei 225 was down by 89.63 points or 0.33% to 27,279.80.
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Sensex is now at 55,828.05, down 97.69 points or 0.17% after trading between 55,386.50 and 55,896.60. On the index, there were 16 stocks that advanced and 14 stocks that declined.
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The broader indexes were trading in positive territory, with the BSE Midcap index climbing 0.62% and the Small-cap index rising 0.93%. Realty was up 1.85%, Auto was up 1.39%, Consumer Discretionary was up 1.11%, Industrials was up 0.89%, and Telecom was up 0.86% on the BSE, while Consumer Durables was down 0.96%, Power was down 0.90%, Utilities was down 0.71%, Healthcare was down 0.22%, and FMCG was down 0.16%.
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The biggest gainers on the Sensex were Mahindra & Mahindra, which rose 4.04%, Power Grid, which rose 2.08%, Nestle, which rose 1.77%, NTPC, which rose 1.39%, and Bajaj Finserv, which rose 0.84%. Sun Pharma was down 3.71%, Titan Co was down 2.63%, HDFC was down 1.70%, Hindustan Unilever was down 1.07%, and Kotak Mahindra Bank was down 1.04%.
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Nifty is presently trading at 16,644.45, down 16.95 points or 0.10% from a low of 16,521.90 and a high of 16,670.90. On the index, 28 stocks advanced and 22 stocks declined.
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On the Nifty, the biggest gainers were ONGC (up 3.96%), Mahindra & Mahindra (up 3.94%), Power Grid (up 2.48%), Coal India (up 2.16%), and Apollo Hospital (up 2.14%). Sun Pharma was down 3.42%, Titan Co was down 2.59%, HDFC was down 1.76%, Shree Cement was down 1.42%, and Kotak Mahindra Bank was down 1.35%.
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