Markets on a flat trajectory

24 May 2023 , 01:19 AM

In Wednesday afternoon session, Indian shares recovered early losses but remained subdued as gains in pharma, fast-moving consumer goods, and media stocks offset losses in high-weightage financials and metals, while concerns about the US debt ceiling standoff weighed on investor sentiment.

On the sectoral front, Nifty Metal, Bank, and Financial Services are trading on the downside. Nifty Auto, FMCG, Pharma, and Media are trading with marginal gains.

At around 1.10 PM, BSE Sensex is trading 103 points lower at 61,878. NSE Nifty is marginally down by 38 points at 18,314.

Sun Pharma (+1.52%) is the top NSE gainer today with a 2% gain. Titan (+1.40%), and Dr Reddy’s (+1.23%) join the gainer’s league. Maruti Suzuki (+0.99%), and Hero MotoCorp (+0.93%) are trading 1% higher.

Adani Enterprises (-4.73%) is the top laggard on NSE after a 2-day uptrend. Adani Ports (-1.68%) and Hindalco (-1.45%) are trading with a 2% decline. Tata Motors (-1.02%) and HDFC (-0.77%) are trading marginally lower.

A total of 29 stocks advanced, and 21 declined on the nifty index today.

Globally, rising uncertainty about the US debt ceiling talks weigh down Wall Street equities overnight. Asian shares remain on a flat note.

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