Markets fall amid volatility; Sensex tanks over 700 points

21 Jul 2023 , 01:07 PM

Domestic equity indices were trading lower in Friday’s afternoon session breaking its winning streak of six consecutive sessions in which indices rose to fresh highs. The markets are in an overbought position and could witness some profit booking at broader levels.

On the sectoral front, Nifty Consumer Durables & FMCG indices fell about 1%. Nifty IT index is trading nearly 4% lower, dragged down by a steep fall in Infosys. India’s VIX eased about 1.5%.

At around 1.00 PM, BSE Sensex is trading 732 points lower at 66,840. NSE Nifty is down by 188 points at 19,790.

Larsen & Toubro (+3.49%) is the top gainer on the Nifty pack as the board plans to consider buyback next week. NTPC (+1.48%), ONGC (+1.32%), Tata Motors (+1.21%), and JSW Steel (+1.16%) are trading with an uptick of only 1%.

Infosys (-8.22%) is the top laggard in today’s trade, falling over 8% as the company cut its full-year revenue growth outlook. HCL Tech (-3.69%) is trading about 4% lower. Reliance Industries (-3.39%) and Hindustan Unilever (-3.37%) fell about 3%. Wipro is currently down by 2.5%.

A total of 17 stocks advanced, and 33 declined on the nifty index.