Markets erase early morning gains; Nifty below 17,500

24 Feb 2023 , 02:02 PM

Indian stock markets erased all the early morning gains and are trading under pressure as concerns over aggressive interest rate hikes from central banks persisted across the globe.

On the sectoral front, all major indices are trading in the red. Nifty Metal is down ~3%. Nifty Auto and FMCG are trading 1% lower. Media index showed some recovery and registered a 0.50% uptick.

At around 2.00 PM, BSE Sensex is trading at 59,547, down by 73 points. NSE Nifty declined 0.18% and is trading at 17,479 points.

ONGC (+1.86%) is the top NSE gainer. Asian Paints (+1.33%), Divis Lab (+1.26%), Coal India (+1.09%), and Axis Bank (+1.09%) extended over a 1% gain.

Adani Enterprise (-5.64%) is trading ~6% lower, being the top NSE loser. Hindalco (-3.98%) is on a nearly ~4% downside. JSW Steel registers a 2% decline. Tata Steel (-1.47%) and Mahindra & Mahindra (-1.42%) are putting pressure on the chart.

A total of 22 stocks on the Nifty index advanced, and 28 declined.

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