Benchmarks pare losses; breadth remains negative

17 Nov 2022 , 01:37 PM

The benchmark indices sharply pared losses in the afternoon trade. The Nifty hovered a tad below the 18,400 mark, tracking mixed global cues. Trading was volatile due to the expiry of weekly index options on the NSE today. Barring the Nifty Bank index, all the sectoral indices on the NSE were in the red. At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 33.51 points or 0.05% to 61,947.21. The Nifty 50 index lost 16.35 points or 0.09% to 18,393.30. In the broader market, the S&P BSE Mid-Cap index declined 0.21% while the S&P BSE Small-Cap index shed 0.17%. The market breadth was negative. On the BSE, 1474 shares rose and 1906 shares fell. A total of 150 shares were unchanged. Tata Consumer Products (up 2.37%), Larsen & Toubro (up 2.01%), Adani Enterprises (up 0.98%), Power Grid Corporation of India (up 0.88%) and ICICI Bank (up 0.85%) were top Nifty gainers. Titan Company (down 2.19%), Apollo Hospitals Enterprise (down 1.66%), Hindalco Industries (down 1.50%), Tata Motors (down 1.47%) and Eicher Motors (down 1.46%) were major Nifty losers. Global Markets: Shares in Europe and Asia were mixed as investors tried to assess the outlook for Federal Reserve policy following stronger-than-expected retail sales data. US stocks fell on Wednesday after stronger-than-expected U.S. retail sales clouded the inflation outlook and hopes that the Federal Reserve could ease its aggressive interest rate hikes. Retail sales jumped 1.3% in October to $694.5 billion, led by higher gas prices and auto sales. Sales were up 0.9% when excluding gas and auto sales. The data showed the ongoing resilience of the consumer despite elevated inflation and higher interest rates. Meanwhile, global markets are watching developments in Ukraine as the fallout from a missile hitting Polish territory continues. NATO said it was likely that Ukrainian air defenses were trying to intercept Russian missiles when the incident happened on Tuesday evening. Powered by Capital Market – Live News