Markets trade flat

3 Apr 2023 , 02:02 AM

The Indian stock market witnessed a flat trading day on Monday with no major fluctuations, owing to concerns about escalating inflation due to the unexpected production cut by OPEC+, leading to a rise in oil prices.

The news of a sudden cut in production by Saudi Arabia and other countries exporting oil, resulting in a sharp increase in crude oil prices, has led to a dampened market sentiment due to concerns over inflation.

Additionally, investors are expected to exercise caution in anticipation of the Reserve Bank of India’s upcoming rate decision scheduled on April 6.

On the sectoral front, Nifty Auto is trading 1% higher led by growth in the sales volume of major auto players. Nifty Metal, Media, and IT are trading under pressure.

At around 2.00 PM, BSE Sensex is trading at 58,939, down by 59.45 points. NSE Nifty is trading marginally lower at 17,345.45 points.

On the nifty index, Hero MotoCorp (+3.35%) is the top gainer with over 3% upside. Maruti Suzuki is trading 2.50% higher. Coal India (+2.48%), ONGC (+1.95%), and Bajaj Auto (+1.89%) are trading 2% higher.

BPCL (-3.73%) is the top NSE loser today. Adani Enterprises (-1.95%) and Apollo Hospital (-1.95%) each fell 2%. Infosys (-1.52%) and Hindustan Unilever (-1.38%) also joined the downtrend with over 1% decline.

A total of 26 advanced and 24 declined on the nifty index.

For feedback and suggestions, write to us at [e-mail]