Markets see a day of volatility

7 Feb 2023 , 04:00 PM

Indian equity markets saw a day of volatility today. Markets ended the day in red. Nifty 50 ended, down by 50.20 points. Sensex ended, down by 220.86 points. Top Gainers were Adani Enterprises, Dr Reddy’s and Adani Ports. Top Losers were Tata Steel, Hindalco and ITC. 

All the broader market indices ended the day in red today. Selling pressure was seen across all market capitalization categories. Buying demand was seen in some realty stocks. Buying demand was also seen in some banking stocks. RBI is going to announce its interest rate hike decision tomorrow. There is expectation that the central bank will either go for a 25-basis point hike or will not announce any hike. If the RBI goes for a 25-basis point hike, then it will be beneficial for banking stocks. If it goes for no hike, then it will be beneficial for realty stocks. Selling pressure was seen today in many FMCG stocks. 

Idea, Adani Power, and Tata Steel were the most active stocks today at NSE, in terms of trading volume. Adani Enterprises, Adani Power and Adani Ports were the most active stocks today in terms of value. 25 stocks touched new 52-week high today at NSE. 115 stocks touched new 52 week low. Broader market breadth was therefore negative.