Domestic stock indexes kept their heads above water in the midday session, with the Sensex and Nifty trading above the 55,600 and 16,550 levels, respectively. Traders found relief in statistics indicating that India’s fiscal deficit in 2021-22 was 6.7% of GDP due to stronger tax revenues and judicious spending, down from 6.9% predicted in the national budget released in February. The stronger fiscal performance will minimise the amount of fiscal rollback necessary in the present financial year compared to the previous one.

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Asian markets were trading mostly in red with Hang Seng decreasing 172.36 points or 0.8% to 21,242.84, Taiwan Weighted dropping 132.68 points or 0.79% to 16,675.09 and Shanghai Composite declined 16.35 points or 0.51% to 3,170.08. On the flip side, Straits Times advanced 10.88 points or 0.34% to 3,243.37 and Nikkei 225 was up 178.09 points or 0.65% to 27,457.89.

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The Sensex is presently trading at 55,606.01, up 39.60 points or 0.07% after moving in a range of 55,407.47 and 55,791.49. On the index, 11 equities advanced while 19 stocks declined.

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The broader indices were trading in green with the BSE Midcap index rising 0.16%, while the Small cap index was up by 0.80%. The top gaining sectoral indices on the BSE were PSU up by 0.73%, Capital Goods up by 0.66%, Industrials up by 0.62%, Bankex up by 0.51% and Metal was up by 0.43%, while Power down by 1.37%, Utilities down by 1.26%, Realty down by 0.87%, Healthcare down by 0.67% and Auto was down by 0.66% were the top losing indices on BSE.

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The top gainers on the Sensex were NTPC up by 1.63%, Tata Steel up by 0.95%, HDFC up by 0.81%, Asian Paints up by 0.73% and Kotak Mahindra Bank was up by 0.69%. On the flip side, Nestle was down by 2.08%, Tech Mahindra down by 1.58%, Sun Pharma down by 1.54%, Power Grid down by 1.29% and Hindustan Unilever was down by 1.05% were the top losers.

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The Nifty is presently trading at 16,586.30, up 1.75 points or 0.01% after moving in a range of 16,537.90 and 16,649.20. On the index, 17 equities advanced while 33 stocks declined.

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The top gainers on Nifty were JSW Steel up by 2.40%, NTPC up by 1.70%, Coal India up by 1.45%, Kotak Mahindra Bank up by 1.12% and HDFC Life Insurance up by 1.09%. On the flip side, Apollo Hospital was down by 2.91%, Bajaj Auto down by 2.82%, Hindalco down by 2.46%, Britannia Inds down by 2.22% and Sun Pharma was down by 1.65% were the top losers.