Markets trade flat amid Economic Survey 2023, Nifty around 17,650

31 Jan 2023 , 02:49 PM

Domestic benchmark indices trading flat amid volatility during afternoon market session on Tuesday ahead of Economic Survey 2023.

On Tuesday, Finance Minister Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament. The survey estimated India’s GDP growth in FY23 at 7 per cent, while the growth for the next financial year has been projected at 6.5 per cent.  At this growth rate, the Indian economy will continue to be the fastest-growing economy in the world, as per the report.

On the sectoral front, Nifty IT, Pharma and Oil & Gas stocks were under selling pressure and all the other sectoral indices are trading in the green followed by Banking, Auto, Media, Metal and PSU Bank stocks surging marginally to 2%.

At around 2:00 PM, Sensex was trading at 59,529.35 lower by 28.94 points or 0.05%. Nifty 50 traded at 17,660.20 lower by 11.25 points or 0.06%

Top Gainers on Nifty are Adani Enterprises (+4.4%), Adani Ports (+3.7%), Power Grid and SBI (+3.2%) supported by BPCL (+2.7%). Meanwhile, top losers on Nifty are Tech Mahindra (-2.3%), Bajaj Finance (-2%), Britannia (-1.8%), TCS (-1.6%) and HDFC Life (-1.5%).

Furthermore, On the third and final day of bidding, the Follow-On Public Offering (FPO) of Adani Enterprises had got bids for 18.3 million shares against an offer size of 45.5 million shares, representing a 40% subscription, in the afternoon session of January 31.

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