Markets maintain a subdued momentum

26 Jun 2023 , 01:05 PM

Domestic equity markets are trading in a flat momentum in Monday’s afternoon session erasing early morning gains as the markets look forward to new triggering factors.

On the sectoral front, Nifty Media stocks are trading with the most declines. Nifty Pharma and Auto indices are extending the biggest gains. India’s VIX is higher by 3%.

At around 1.00 PM, NSE Nifty is trading at 18,660.70, marginally down. BSE Sensex is trading at 62,908.22, down by 71 points.

Adani Enterprises (+3.13%) is the biggest gainer registering a 3% uptick, followed by Cipla (+2.53%). UPL (+1.85%), Divis Lab (+1.76%), and Tata Consumer (+1.62%) are trading with an upside of 2%.

Among the biggest losers are JSW Steel (-1.00%), NTPC (-1.02%), Coal India (-0.95%), Reliance (-0.86%), and Power Grid (-0.76%).

A total of 28 stocks advanced on the nifty index, and 22 declined.

Despite concerns over political instability in Russia and the subsequent increase in oil prices following a brief mutiny by Russian mercenaries against Moscow, domestic equities seemed to disregard these worries.

On individual basis, Shree Cement fell nearly 10% as tax evasion reports of the company came in light. While ICICI Securities fell 13% following company’s statement that it is considering delisting of shares.

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