Markets in a bloodbath; Nifty falls below 19,400

7 Jul 2023 , 01:07 PM

Indian stock markets are trading with losses in Friday’s afternoon session, breaking their six-day streak. Markets are highly volatile, swinging between gains and losses. Even though markets sighed relief on account of robust corporate earning numbers, and sustained foreign inflows, investors are cautious of US Fed’s hawkishness regarding monetary policy.

On the sectoral front, all sectoral indices are trading on the downside. Nifty Media is the only index trading with a marginal upside. India’s VIX eased about 2%.

At around 1.00 PM, BSE Sensex is trading 395 points lower at 65,391. NSE Nifty is trading at 19,371, down by 127 points.

Titan (+1.89%) is the top Nifty gainer so far in today’s trade following the release of its Q1 numbers. Mahindra & Mahindra (+1.03%), HDFC Life (+0.80%), SBI Life (+0.44%), and TCS (+0.35%) are trading with modest gains.

Adani Ports (-2.76%) is leading the losers’ chart, followed by Power Grid (-2.46%). IndusInd Bank (-1.96%), Apollo Hospital (-1.54%), and Bajaj Finance (-1.59%) are trading nearly 2% lower.

Only 7 stocks advanced on the nifty index today, and 43 declined.