In the wake of negative indications from other Asian markets, bears held sway on Dalal Street in the mid-day session, with both the Sensex and the Nifty trading in the red.

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The domestic mood remained pessimistic, as the World Trade Organization predicted that Russia’s war in Ukraine will nearly halve global trade growth this year, as well as drive down global GDP growth.

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Asian markets were trading in red with Hang Seng decreased 106.09 points or 0.5% to 21,102.21, Straits Times trembled 29.28 points or 0.87% to 3,334.28, KOSPI fell 28.66 points or 1.06% to 2,664.44, Shanghai Composite declined 21.02 points or 0.66% to 3,146.11, Nikkei 225 slipped 463.72 points or 1.73% to 26,357.80, Jakarta Composite lost 47.22 points or 0.66% to 7,156.57 and Taiwan Weighted dropped 61.69 points or 0.36% to 16,986.68.

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The Sensex is presently trading at 58,553.83, down 410.74 points or 0.70% from a high of 58,338.13 and a low of 58,743.50. On the index, there were four equities that rose against 26 that fell.

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The broader indices were trading in red with the BSE Midcap index being down by 1.29%, while the Small cap index was down by 1.26%. The only gaining sectoral indices on the BSE were Utilities up by 0.61% and Power up by 0.58%, while Metal down by 3.94%, Realty down by 2.68%, Basic Materials down by 2.12%, Energy down by 1.85% and Capital Goods down by 1.75% were the top losing indices on BSE.

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The top gainers on the Sensex were TCS up by 0.94%, Kotak Mahindra Bank up by 0.84%, Maruti Suzuki up by 0.61% and HCL Tech. up by 0.58%. On the flip side, Tata Steel was down by 3.67%, Larsen & Toubro down by 2.03%, Infosys down by 1.51%, Bajaj Finserv down by 1.44% and Ultratech Cement down by 1.41% were the top losers.

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The Nifty is presently trading at 17,520.85, down 154.10 points or 0.87% after trading in a range of 17,462.30 and 17,594.40. On the index, there were 7 stocks that advanced and 43 stocks that declined.

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The top gainers on the Nifty were TCS up by 1.02%, Kotak Mahindra Bank up by 0.76%, Maruti Suzuki up by 0.53%, HCL Tech. up by 0.53% and Shree Cement up by 0.28%. On the flip side, Hindalco is down by 5.70%, Coal India down by 4.51%, Tata Steel down by 3.74%, JSW Steel down by 3.08% and Tata Motors down by 3.03% were the top losers.