Indian equity benchmarks
continued to trade in deep red in the afternoon session on account of selling
in frontline blue chip counters. Sentiments were weak as International Monetary
Fund (IMF) stated that the global economic outlook remains downbeat and some
countries are expected to slip into recession in 2023, but it is too early to
say if there will be a widespread global recession.

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The Sensex was trading at
59,291.90, down by 672.15 points or 1.12% after trading in the range of
59,154.73 and 59,720.50. On the index, there were 4 stocks advancing and 26
stocks declining.

The broader indices were
trading in red with the BSE Midcap index down by 1.28% and the Small cap index
down by 0.99%. The top losing sectoral indices on the BSE were IT down by
2.30%, Auto down by 2.12%, TECK down by 2.07%, Basic Materials down by 1.47%
and Energy down by 1.37%, while there were no gainers.

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The top gainers on the
Sensex were Indusind Bank up by 4.21%, Sun Pharma up by 0.70%, Kotak Mahindra
Bank up by 0.51% and Titan up by 0.31%. On the flip side, Tech Mahindra down by
3.36%, Mahindra & Mahindra down by 3.23%, Infosys down by 2.44%, TCS down
by 2.40% and Ultratech Cement was down by 2.38% were the top losers.

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The Nifty was trading at
17,674.25, down by 203.15 points or 1.14% after trading in the range of
17,642.80 and 17,820.05. On the index, there were 7 stocks advancing and 43
stocks declining.

The top gainers on the Nifty
were Indusind Bank up by 4.18%, Cipla up by 2.46%, Sun Pharma up by 0.64%,
Kotak Mahindra Bank up by 0.49% and JSW Steel up by 0.33%. On the flip side,
Hero MotoCorp down by 3.82%, Tata Consumer Products down by 3.67%, Tech
Mahindra down by 3.43%, Mahindra & Mahindra down by 3.21% and UPL was down
by 2.56% were the top losers.

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Asian markets were trading mostly in red with the Nikkei 225 falling
308.26 points or 1.11% to 27,567.65, Taiwan Weighted dropped 108.28 points or
0.74% to 14,561.76, Straits Times trembled 3.34 points or 0.1% to 3,264.64,
Hang Seng decreased 124.90 points or 0.66% to 18,805.48, Jakarta Composite lost
122.75 points or 1.68% to 7,182.85, KOSPI fell 22.52 points or 0.94% to
2,379.31 and Shanghai Composite as down by 54.65 points or 1.71% to 3,145.27.