Markets in deep red; Sensex falls 450 pts, Nifty around 18,100

4 Jan 2023 , 02:00 PM

Domestic benchmark indices trading in the deep red after a flat opening on Wednesday’s trading session. Both the Sensex and Nifty benchmarks are marginally lower in the afternoon market session. Moreover, Indian markets may witness volatility among sectors amid weak global cues.

On the sectoral front, except pharma stocks, all other sectoral indices are trading in the deep red territory. Metal index underperformed by tumbling over 1% followed by auto, banking and IT stocks plunging marginally.

At around 2:00 PM, Sensex was trading at 60,848.48 lower by 445.72 points or 0.73%. Nifty 50 traded at 18,100.35 lower 132.20 points or 0.73%

Top Gainers on Nifty 50 are: Maruti Suzuki (+1.2%), Divis Lab (+1.04%), HDFC Life (+1.05%) supported by Ultratech Cement (+0.76%) and Eicher Motors (+0.40%). Meanwhile, top losers on Nifty are: JSW Steel (-3.2%), Hindalco (-2.8%), Coal India (-2.6%), ONGC (-2.3%) and Tata Motors (-1.8%).

Further, today Equitas SFB hits 52-wewek high after RBI allowed SBI Funds Management to acquire up to 9.9% shareholding of the Bank. The acquisition will be funded via schemes of SBI Mutual Fund.

Moreover, Reliance Industries stocks in focus today as its FMCG arm will acquire a 50% stake in Gujarat-based, soft drinks and juice maker Sosyo Hajoori Beverages.

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