In the midday session, Indian equity indexes remained in the negative zone, with the Sensex and Nifty trading below 55,900 and 16,650, respectively.

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Traders were concerned after a private report stated that India’s economy expanded less than earlier projected last year, with virus restrictions in the last quarter regarded as a drag on output and the European conflict adding a fresh inflation obstacle to recovery.

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Asian markets were trading mostly in green with Hang Seng increasing 214.30 points or 1.01% to 21,338.23, Taiwan Weighted strengthened 197.15 points or 1.19% to 16,807.77, KOSPI rose 9.43 points or 0.35% to 2,679.09, Straits Times advanced 22.25 points or 0.69% to 3,261.17, Shanghai Composite gained 30.39 points or 0.97% to 3,179.45 and Jakarta Composite was up by 45.53 points or 0.65% to 7,083.10. On the flip side, Nikkei 225 was down by 89.63 points or 0.33% to 27,279.80.

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Sensex is now at 55,828.05, down 97.69 points or 0.17% after trading between 55,386.50 and 55,896.60. On the index, there were 16 stocks that advanced and 14 stocks that declined.

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The broader indexes were trading in positive territory, with the BSE Midcap index climbing 0.62% and the Small-cap index rising 0.93%. Realty was up 1.85%, Auto was up 1.39%, Consumer Discretionary was up 1.11%, Industrials was up 0.89%, and Telecom was up 0.86% on the BSE, while Consumer Durables was down 0.96%, Power was down 0.90%, Utilities was down 0.71%, Healthcare was down 0.22%, and FMCG was down 0.16%.

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The biggest gainers on the Sensex were Mahindra & Mahindra, which rose 4.04%, Power Grid, which rose 2.08%, Nestle, which rose 1.77%, NTPC, which rose 1.39%, and Bajaj Finserv, which rose 0.84%. Sun Pharma was down 3.71%, Titan Co was down 2.63%, HDFC was down 1.70%, Hindustan Unilever was down 1.07%, and Kotak Mahindra Bank was down 1.04%.

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Nifty is presently trading at 16,644.45, down 16.95 points or 0.10% from a low of 16,521.90 and a high of 16,670.90. On the index, 28 stocks advanced and 22 stocks declined.

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On the Nifty, the biggest gainers were ONGC (up 3.96%), Mahindra & Mahindra (up 3.94%), Power Grid (up 2.48%), Coal India (up 2.16%), and Apollo Hospital (up 2.14%). Sun Pharma was down 3.42%, Titan Co was down 2.59%, HDFC was down 1.76%, Shree Cement was down 1.42%, and Kotak Mahindra Bank was down 1.35%.