Markets marginally up

23 Mar 2023 , 02:03 AM

Indian benchmark indices are trading with marginal gains in the Thursday afternoon session, following some losses in the early morning trade. This was after the US Federal Reserve announced a quarter-point rate hike to combat inflation, and the Secretary of the Treasury rejected the idea of providing insurance for all bank deposits.

Initially, Wall Street stocks jumped following the Federal Reserve’s anticipated 25-basis point interest rate hike.

On the sectoral front, IT pack is trading with nearly 0.5% downside. All other major sectoral indices are trading with little gains.

At around 2.00 PM, BSE Sensex is trading higher by 33 points at 58,248. NSE Nifty 50 is trading 13 points higher at 17,161.35.

So far in the day, Hindalco (+1.48%) is the top NSE gainer, followed by Nestle India (+1.46%). Maruti Suzuki (+1.23%), HDFC Life (1.13%) and ITC (+1.11%) are in the uptrend.

Maruti Suzuki secured a place among gainers following its announcement to hike prices across all models effective from April 1.

Asian Paints (-1.67%) fell nearly 2%, topping the losers’ chart. Bajaj Auto (-1.47%) and HCL Tech (-1.29%) are trading nearly 1.5% lower. Heavyweights Infosys (-0.95) and Wipro (-0.89%) put pressure on the IT index with about a 1% decline.

A total of 31 stocks advanced on the Nifty index, and 19 declined.

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