Markets nosedive; Sensex falls 200 pts, Nifty below 17,850

11 Jan 2023 , 09:40 AM

Indian markets are under pressure and trading in the red on Wednesday’s opening bell due to a broad-based profit booking across sectoral indices.

At around 9:40 AM, Sensex was trading at 59,872.75 down by 242.73 points or 0.40%. The benchmark has touched a high of 60,177.57 and a low of 59,805.78 respectively.

Nifty 50 performed at 17,837.35 lower by 76.80 points or 0.43%. The benchmark has clocked the day’s high and low of 17,936.75 and 17,837.

In terms of sectoral indices on NSE, the Banking, Auto, Pharma, PSU Banks logged selling pressure from the investors while IT, Media and Metal index logged buying sentiments to trade marginally upside.

Banking stocks are down due to FII selling; however, the segment is doing good and Q3 results will be positive. Investors are optimistic that market will respond to the results. Meanwhile, India’s VIX surged 4% amid negative start on Nifty today.

Top gainers on Nifty were – Hindalco, JSW Steel, Tata Motors, Tata Steel and Infosys.

Top losers on Nifty were – Bharti Airtel, Adani Enterprises, Cipla, HUL and Divis Lab shedding between 1-3%.

On the global front, Asian markets opened in the green led by the Japanese ‘Nikkei’ which was trading higher by 250 points even as most other Asian indices traded near 3-month highs led by the South Korean ‘Kospi’ & Hang Seng. Chinese stocks have seen strong ETF flows.

Overnight, on Wall Street, US markets see another volatile day before closing near day’s highs as Dow Jones gains 186, while Nasdaq climbs 1% to close up 106.

For feedback and suggestions, write to us at [e-mail]