Markets volatile; Nifty near 17,300

28 Feb 2023 , 02:20 PM

Indian stock markets are trading under pressure ahead of the GDP data for the December quarter.

On the sectoral front, Nifty media is trading 2% higher driven by Zee Entertainment with over 7% gains. Starting February 28, the corporation’s F&O agreements that terminate in May 2023 will be open for trade, as the NCLT has halted the insolvency process.

Nifty auto extended marginal gains. Nifty Bank, IT, and FMCG slid marginally. Nifty Oil & Gas is trading 1% lower. All other sectoral indices were also trading in red.

At around 2.00 PM, BSE Sensex is trading 480 points lower at 58,806. NSE Nifty is down by 133 points at 17,261.

Adani Enterprises (+12.82%) is the top Nifty gainer with a 13% uptick. Adani Ports (+5.39%) is 5% higher. Asian Paints (+2.68%) is joining the rally with a 3% upside. PowerGrid (+0.84%) and Tata Motors (+0.54%) are also trading nearly 1% higher.

Cipla (-3.70%) emerged as the top loser on the Nifty index today. Hindalco (-2.65%) fell nearly 3%. Coal India (-2.01%), Reliance (-1.94%) and Tata Steel (-1.79%) are weighing down the chart with a 2% fall.

A total of 10 stocks advanced, 39 declined and 1 remain unchanged on the Nifty index.

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