Markets fall as US robust data sparks rate fears

28 Jul 2023 , 01:01 PM

Indian benchmark indices are trading with losses in Friday’s afternoon session as strong economic data release from the US has led to interest rate concerns. Meanwhile, Japan’s decision to keep interest rates unchanged adds to investor jittery.

Despite losses in benchmark indices, smallcap and midcap stocks are trading with gains.

On the sectoral front, Nifty Realty stocks are trading 2% higher. Media and FMCG stocks are also trading with gains. All other major sectoral indices are trading under pressure.

At around 1.00 PM BSE Sensex is trading 293 points lower at 65,973.75. NSE Nifty is down by 71 points and is currently at 19,589.

Power Grid (+3.03%) is leading the gainers’ chart in today’s intraday session, followed by NTPC (+3%). Dr Reddy’s (+1.69%) is trading about 2% higher. Mahindra & Mahindra (+1.42%) is trading higher today following yesterday’s subdued session. Adani Ports (+1.31%) is trading with over 1% uptick.

Maruti Suzuki (-1.75%) and Bajaj Finserv (-1.68%) are the biggest losers on the nifty pack today. HCL Tech (-1.51%), BPCL (-1.57%), and HDFC Bank (-1.43%) are the other laggards.

A total of 24 stocks advanced, and 26 declined in today’s session.