Markets in a bloodbath; Sensex tumbles over 500 pts; Nifty below 17,900

5 Jan 2023 , 02:00 PM

Domestic benchmark indices trading in the red after a positive opening on Thursday’s trading session. Both the Sensex and Nifty benchmarks are nearly 1% lower in the afternoon market session.

On the sectoral front, FMCG, Auto, Pharma sectoral indices are trading higher while IT, Banking index underperformed by tumbling over1% each followed by metal, realty and consumer good stocks plunging marginally.

At around 2:00 PM, Sensex was trading at 60,076.70 lower by 580.75 points or 0.96%. Nifty 50 traded at 17,898.95 lower 144 points or 0.80%

Top Gainers on Nifty 50 are: Cipla (+1.9%), Britannia (+1.6%), Bajaj Auto (+1.4%) supported by HDFC Life (+1.35%) and ITC (+1.3%). Meanwhile, top losers on Nifty are: Bajaj Finance (-7%), Bajaj Finserv (-5.6%), ICICI Bank (-2.5%), Axis Bank (-1.8%) and Titan (-1.7%).

Further, Marico stocks in focus after the FMCG-major said its revenue grew in the low single digits in the third quarter. The Company said that its revenue growth slowed due to a muted recovery in rural demand.

Moreover, oil market companies HPCL and BPCL advanced nearly 2% after Brent Crude slipped over 9% in the last two days. The crude prices plunged amid concerns over weak global growth and rising Covid cases in Chinda.

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