Markets fall as financial stocks drag

11 Aug 2023 , 01:11 PM

Domestic equity markets are trading under pressure dragged primarily by banking and financial stocks. The central bank decided to keep the key policy rates unchanged to tackle with excess liquidity in the markets. 

On the sectoral front, Nifty PSU Bank is trading over 1% uptick. Nifty Bank and FMCG stocks are dragging down the overall chart by 1% decline. All other sectoral indices are trading in a downward momentum.

At around 1.00 PM, BSE Sensex is trading at 65,382, down by 306 points. NSE Nifty index is trading 91 points lower at 19,452. 

HCLTech (+3.98%) is trading as the top gainer on nifty index owing to its deal with Verizon. Titan Company (+2.04%) is trading 2% higher. PowerGrid Corporation (+1.16%), LTIMindtree (+1.15%), and Tata Steel (+0.75%) are the other gainers on nifty today.

IndusInd Bank (-2.01%) is the biggest loser today, joined by SBI Life (-1.79%). Sun Pharma (-1.44%), Asian Paints (-1.29%), and Hindalco (-1.18%) fell by about 1%.

A total of 18 stocks advanced, and 31 declined on nifty index so far.