Markets trade firm in volatility; IT, Metal stocks rally

17 Mar 2023 , 02:06 PM

During the Friday afternoon session, Indian benchmark indices were trading flat erasing all early morning gains. 

In today’s early morning trade Sensex added nearly 600 points tracking a rebound in global equities, following a series of actions aimed at bolstering the international banking system, concerns regarding a potential financial sector meltdown have been alleviated.

On the sectoral front, Nifty Media index dipped the most following a decline in Zee Entertainment’s stock. Heavyweights Nifty IT and Metal packs gained nearly 2%. Other indices were trading in mixed clues.

At around 2.00 PM, BSE Sensex is trading 263 points higher at 57,898. NSE Nifty is trading at 17,069, up by 84 points.

HCL Tech is the top NSE gainer so far, adding 4%. HDFC Life (+2.60%), Infosys (+2.56%), Coal India (+2.20%), and Nestle India (+1.94%) lifting up the chart with nearly a 2% uptick.

Eicher Motors fell the most on NSE today, followed by ITC. Maruti Suzuki, Sun Pharma, and Hero Moto Corp are trading about 1% lower.

After the Indian government sanctioned the acquisition of equipment valued at $8.5 billion from local companies, defence firms such as Hindustan Aeronautics, Bharat Forge, and Bharat Dynamics saw a rise in their stock prices.

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

Reliance is most active stock so far in terms of trading value. Tata Steel is the most active stock in terms of trading volume. 

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