Indian equity benchmarks
continued to trade flat in negative terrain in afternoon session, with the
Sensex and Nifty trading below their psychological levels of 57,100 and 17,000.
Significant foreign fund outflows, concerns about aggressive interest rate
hikes by global central banks, and potential global recession fears have
impacted traders’ sentiments.

The Sensex was trading at 57,068.62,
down by 38.90 points or 0.07% after trading in a range of 56,498.72 and 57,213.33.
On the index, 18 stocks were advancing and 12 stocks declining.

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The broader indices were
trading in green with the BSE Mid cap index up by 0.30% and the Small cap index
up by 0.34%. The top gaining sectoral indices on the BSE were Telecom up by
1.38%, Auto up by 0.99%, Healthcare up by 0.84%, TECK up by 0.78%, Consumer
Durables was up by 0.68%, while Energy down by 0.66%, Metal down by 0.65%, Oil
& Gas down by 0.61%, PSU down by 0.49% and Bankex was down by 0.37% were
the top losing indices on BSE.

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The top gainers on the
Sensex were Sun Pharma up by 2.90%, Dr. Reddy’s Lab up by 1.77%, Mahindra &
Mahindra up by 1.74%, Asian Paints up by 1.57% and Nestle was up by 1.15%. On
the flip side, ITC shed 2.03%, Reliance Industries 1.47%, Axis Bank 1.33%, NTPC
1.26% and Indusind Bank 0.91%.

The Nifty was trading at 16,996.65,
down by 10.75 points or 0.06% after trading in a range of 16,825.40 and 17,037.60.
On the index, 27 stocks were advancing and 23 stocks declining.

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The top gainers on Nifty
were Sun Pharma up by 2.90%, Eicher Motors up by 1.90%, Dr. Reddy’s Lab up by
1.87%, Mahindra & Mahindra up by 1.79% and Asian Paints was up by 1.59%. ONGC
down by 2.17%, ITC down by 1.93%, JSW Steel down by 1.66%, Reliance Industries
down by 1.51% and Axis Bank was down by 1.31% were the top losers.

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Asian markets were trading
mostly lower with the Nikkei 225 falling 397.89 points or 1.5% to 26,173.98,
Taiwan Weighted dropping 360.52 points or 2.61% to 13,466.07, KOSPI fell 54.57
points or 2.45% to 2,169.29, Shanghai Composite declined 30.13 points or 0.97%
to 3,063.73, Hang Seng decreased 436.50 points or 2.44% to 17,423.81 and
Straits Times was down by 35.65 points or 1.13% to 3,129.85.