Markets rebound amidst interest rate concerns

27 Jun 2023 , 01:09 PM

Indian stock markets are trading with gains in Tuesday’s afternoon session following a flat start even though interest rate worries kept investors cautious.

On the sectoral front, Nifty Auto, FMCG, and Consumer Durables are the only indices trading with declines. Nifty Realty, Financial Services, and Metal packs are trading with the biggest gains. India’s VIX eased by more than 3%.

At around 1.00 PM, BSE Sensex is trading 149 points higher at 63,119. NSE Nifty is up by 43 points at 18,734.

Amid global cues, the upcoming week is expected to be relatively uneventful for large-cap stocks. Valuations have already increased, and there is reduced interest in heavyweight banking and IT stocks.

HDFC Life (+4.65%) is the top NSE gainer. Bharti Airtel (+1.53%), Apollo Hospital (+1.18%), Divis Lab (+1.10%), and Tata Motors (+0.98%) are trading with a nearly 1% uptick.

Cipla is off by 1%, being the top Nifty loser. IndusInd Bank (-1.03%), Adani Ports (-0.87%), UPL (-0.84%), and Britannia Industries (-0.83%) are trading marginally lower.

A total of 33 stocks advanced, and 17 declined on the nifty index today.