Markets rebound after 8 weak trading sessions

1 Mar 2023 , 01:23 AM

In the Wednesday afternoon session, the Indian stock markets are trading higher following eight straight sessions of losses, with the metal sector driving gains following the release of robust manufacturing data from China. 

However, concerns about a slowdown in India’s own economic growth and fears of continued interest rate hikes limited the market’s upward momentum.

On the Sectoral front, all the major sectoral indices are trading higher. Nifty Metal extended 3.50% upside. Nifty Bank, Financial Services, Auto, Media and IT are trading nearly 1% higher. 

At around 1.15 PM, BSE Sensex is trading at 59,280, up by 316 points. NSE Nifty is trading 99 points higher at 17,403.

Adani Enterprises (+11.59%) is the top NSE gainer in second trading session, registering uptick of about 12%. Hindalco joined the rally with 3% gains. Axis Bank (+2.43%), Tech Mahindra (+2.30%), and TCS (+1.87%) are trading nearly 2% higher.

Britannia Industries (-2.11%) and Power Grid (-1.96%) are top laggards on NSE. Cipla (-0.88%), SBI Life (-0.69%), and Hindustan Unilever (-0.26%) are trading marginally low.

A total of 39 stocks advanced, and 11 declined on Nifty index.

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