Markets rise, defying global cues

5 Apr 2023 , 02:01 AM

In the afternoon trading session on Wednesday, Indian shares are on the rise, supported by robust quarterly reports from finance firms and banks, although investors remain cautious due to worries about inflation, ahead of the Reserve Bank of India’s upcoming monetary policy announcement.

Data indicating a decline in U.S. job openings to a level not seen in almost two years led to a lackluster performance in global equities.

On the sectoral front, Nifty IT stocks are trading ~1% higher. Following the quarterly reports of the banking and financial companies, the index jumped nearly 1%. Further, all other major sectoral indices are trading with gains, except Nifty Auto and Oil & Gas.

At around 2.00 PM, BSE Sensex is trading 473 points higher at 59,580. NSE Nifty is trading higher by 126 points at 17,523.95.

Larsen & Toubro (+3.39%) is the top NSE gainer today. HDFC Bank (+2.43%) and HDFC (+2.35%) are trading about 2.5% higher following their robust quarterly data. TCS (+1.76%) and ITC (+1.58%) are trading with about a 2% upside each.

Eicher Motors (-2.54%) is trading lower by 3%, being the top NSE loser. Adani Enterprises (-1.76%) fell about 2%. IndusInd Bank (-1.10%), NTPC (-1.07%), and Apollo Hospital (-1.00%) each fell about 1%.

A total of 34 stocks advanced, and 16 declined on the Nifty index today.

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