In the midday session, Indian equity benchmarks pared some of their losses, but they remain below the neutral levels, with the Sensex and Nifty trading below around 51,400 and 15,300, respectively. Globally, Asian markets were mainly down as central banks raised interest rates to combat growing inflation, fueling worries of a recession.

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Asian markets were trading mostly in the red with KOSPI falling 10.48 points or 0.43% to 2,440.93, Nikkei 225 slipped 468.20 points or 1.77% to 25,963.00, Jakarta Composite lost 136.85 points or 1.94% to 6,913.48, Straits Times trembled 20.53 points or 0.66% to 3,076.90 and Taiwan Weighted was down by 197.35 points or 1.25% to 15,641.26. On the flip side, Hang Seng increased by 211.55 points or 1.01% to 21,056.98 and Shanghai Composite was up by 27.86 points or 0.85% to 3,313.24.

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The Sensex is presently trading at 51,342.97, down 152.82 points or 0.30% from its low of 50,921.22 and high of 51,634.15. On the index, 11 equities advanced while 19 stocks declined.

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The broader indices were trading in red with the BSE Mid cap index losing 0.83%, while the Small cap index was down by 1.20%. The only gaining sectoral indices on the BSE were Bankex up by 0.27% and Metal was up by 0.12%, while Consumer Durables was down by 2.59%, IT down by 2.43%, TECK down by 2.26%, Oil & Gas down by 1.85%, Consumer Discretionary was down by 1.60% were the top losing indices on BSE.

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The top gainers on the Sensex were Bajaj Finserv up by 1.75%, Reliance Industries up by 1.19%, ICICI Bank up by 0.97%, Bajaj Finance up by 0.94% and ITC was up by 0.82%. On the flip side, Titan Co was down by 5.75%, Wipro was down by 4.46%, TCS down by 3.64%, Dr Reddy’s Lab down by 2.76% and Tech Mahindra was down by 2.47% were the top losers.

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The Nifty is presently trading at 15,292.65, down 67.95 points or 0.44% after moving in a range of 15,183.40 and 15,400.40. On the index, there were 16 stocks that advanced and 34 stocks that declined.

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The top gainers on Nifty were Bajaj Finserv up by 2.01%, Coal India up by 1.64%, JSW Steel up by 1.41%, Reliance Industries up by 1.30% and Bajaj Finance was up by 1.15%. On the flip side, Titan Co was down by 5.71%, Wipro was down by 4.36%, TCS down by 3.38%, HDFC Life Insurance down by 2.97% and Dr Reddy’s Lab was down by 2.48% were the top losers.