Markets rebound from early losses

20 Jul 2023 , 01:07 PM

Indian benchmark indices are trading on the upside in Thursday’s afternoon session after marking a flat debut. Information Technology stocks are restricting the gains in markets today with declines, ending their four-sessions winning streak.

On the sectoral front, the Nifty IT index is trading nearly 1% lower. Nifty Pharma stocks are up by over 1%, led by the gains in Dr Reddy’s Laboratories. All other sectoral indices are trading in green.

At around 1.00 PM, BSE Sensex is trading 172 points higher at 67,269.50. NSE Nifty is up by 61 points at 19,894.

Dr Reddy’s (+2.45%) is trading with the most gains on the Nifty index today, followed by ITC (+2.04%). Reliance Industries (+1.55%) and Grasim Industries (+1.53%) are trading 1.50% higher. Cipla (+1.29%) is also adding to the broader rally.

Infosys (+-1.88%) is so far the biggest Nifty loser. Ultratech Cement fell by 1.50%. Axis Bank (-0.63%), Eicher Motors (-0.51%), and Bajaj Finserv (-0.37%) are trading on the downside.

A total of 36 stocks advanced, and 14 declined on the nifty index today.