Markets in positive territory

16 Feb 2023 , 02:06 AM

Domestic equity markets are trading higher in line with global trends. The latest positive retail sales figures from the United States and a renewed interest in domestic equities from foreign investors have improved the overall market sentiment.

With January’s U.S. retail sales increasing by the highest amount in nearly two years, both Wall Street and global equities have been lifted, leading to a surge in domestic equities.

On the sectoral front, all the major indices remained positive so far. Nifty IT, Metal, and Pharma gained over 1%.

At around 2.00 PM, the Indian benchmark index BSE Sensex was trading 200 points higher at 61,476 points. NSE Nifty was trading 57 points higher at 18,075.

Tech Mahindra (+5.55%) was the top gainer registering over a 5% uptick. ONGC (+4.37%) joined the rally with a 4% upside. Apollo Hospitals was trading 3% higher.

Following its Q4 hit numbers, Nestle India was among the top gainers with above 2% rise. Adani Ports (+2.11%) gained about 2%.

BPCL (-1.74%) emerged as the top laggard with a 2% downside. Eicher Motors (-0.97%), Bajaj Finance (-0.87%), Hindustan Unilever (-0.70%), and Hero MotoCorp (-0.66%) were in down spirit.

Out of the 50 stocks on Nifty 50, 34 advanced, and 16 declined.

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