Markets trade flat after a positive start

30 May 2023 , 01:01 PM

Indian benchmark indices erased all the early morning gains after a positive start to the day, despite continuous foreign fund inflows.

According to exchange data, Foreign Institutional Investors (FIIs) were net buyers on Monday, buying equities worth Rs 1,758.16 crore.

On the sectoral front, Nifty FMCG, and Media are on the upside. All other sectoral indices are trading with declines.

At around 1.00 PM, BSE Sensex is trading 27 points higher at 62,871. NSE Nifty is up by 12.50 points at 18,610.

ITC (+2.35%) is the top NSE gainer with a 2% upside. HCL Tech (+1.09%) is trading 1% higher, followed by Ultratech Cement (+1.01%). Apollo Hospitals (+1.00%) and Kotak Bank (+0.97%) are among the other top gainers.

Hindalco (-1.81%) fell about 2%, being the top NSE laggard. HDFC Life (-1.31%) and Tech Mahindra (-1.05%) are trading 1% lower. Coal India (-0.91%) and Sun Pharma (-0.97%) are further weighing down the chart.

A total of 20 stocks advanced on the nifty index, while 29 declined, and 1 remain unchanged.

Globally, Tokyo, Shanghai, and Hong Kong were trading lower in Asian markets, while Seoul was trading higher. Meanwhile, the global oil benchmark Brent crude fell 0.5% to USD 76.67 per barrel.

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