Indian equity benchmarks
continued to trade lower in the late morning session, on the back of negative
cues from other Asian markets. Traders got cautious, following the broadly
negative cues from global markets overnight, after hotter-than-expected US
inflation data
raised concerns the Fed will even more aggressively hike
interest rates at its upcoming policy meeting next week and triggered heavy
selling at several counters from across various sectors.

Also Read | Global markets react to higher than expected US inflation data

The Sensex was trading at
60,171.99, down by 399.09 points or 0.66% after trading in the range of
59,417.12 and 60,194.48. On the index, there were 15 stocks advancing and 15
stocks declining.

The broader indices were
trading in green with the BSE Midcap index up by 0.28% and the Small cap index
up by 0.10%. The top gaining sectoral indices on the BSE were PSU up by 0.52%,
Telecom up by 0.42%, Basic Materials up by 0.38%, Metal up by 0.37% and Bankex
up by 0.30%, while IT down by 3.30%, TECK down by 2.87%, Realty down by 1.30%,
Capital Goods down by 0.75% and Oil & Gas down by 0.70% were the top losing
indices on BSE.

Also Read | US inflation rate eases slightly | A timeline: 1930-2022

The top gainers on the
Sensex were IndusInd Bank up by 2.28%, NTPC up by 2.15%, Power Grid up by
1.70%, SBI up by 1.24% and ITC up by 0.58%. On the flip side, Infosys fell
4.45%, Tech Mahindra 3.64%, TCS 3.29%, HCL Tech 2.47% and Wipro 1.87%.

Also Read | Ambuja Cements shares hit all-time high, surge over 5% on fundraising plan

The Nifty was trading at
17,961.10, up by 108.95 points or 0.60% after trading in the range of 17,771.15
and 17,964.15. On the index, there were 20 stocks advancing and 30 stocks
declining.

The top gainers on Nifty
were Indusind Bank up by 2.54%, NTPC up by 2.24%, Power Grid up by 1.61%, SBI
up by 1.38% and Bajaj Auto up by 0.65%. Infosys down by 4.40%, Tech Mahindra
down by 3.57%, TCS down by 3.38%, HCL Tech down by 2.44% and Wipro down by
1.82% were the top losers.

Also Read | Where to invest during high inflation?

Asian markets were trading
mostly in the red with the Nikkei 225 falling 796.01 points or 2.78% to
27,818.62, Straits Times down 35.08 points or 1.07% to 3,255.00, Hang Seng
losing 486.41 points or 2.52% to 18,840.45, Taiwan Weighted falling 251.82
points or 1.69% to 14,642.59, KOSPI declining 39.07 points or 1.59% to
2,410.47, Jakarta Composite falling 52.88 points or 0.72% to 7,265.14 and
Shanghai Composite losing 29.71 points or 0.91% to 3,234.09.