Markets trade flat with Nifty50 around 17,600

31 Jan 2023 , 09:50 AM

Indian markets traded flat on Tuesday with benchmark Sensex and Nifty 50 with marginal ups and downs. Also, December 2022 (Q3FY23) quarter earnings, Union Budget announcement, Federal Reserve meeting have further influenced domestic equities.

At around 9:34 AM, Sensex was trading at 59,451.15 down by 49.26 points or 0.08%. Nifty 50 performed at 17,630.45 lower by 18.50 points or 0.10%. 

In terms of sectoral indices, on NSE, the IT, FMCG, Pharma, Oil & Gas, Consumer Goods logged selling pressure however Banking, Auto and Financial stocks trading marginally higher.

Gainers on Nifty were – BPCL, Adani Enterprises, JSW Steel, ONGC and UPL.

Losers on Nifty were – Tech Mahindra, Larsen & Toubro, TCS, Sun Pharma and Cipla tumbling between 1.1-2.3%.

Coal India, Power Grid Corporation of India, Sun Pharmaceutical Industries, UPL, ACC, BASF India, Blue Star, Edelweiss Financial Services, Great Eastern Shipping, Godrej Consumer Products, Indian Hotels, Indian Oil Corporation, Jindal Steel & Power, KEC International, KPIT Technologies, Max Financial Services, MOIL, RailTel Corporation of India, Spandana Sphoorty Financial, Star Health, and TTK Prestige will be in focus ahead of quarterly results today.

On the global front, Asian markets opened mixed with most indices trading flat as markets consolidated ahead of Federal Reserve meet on Wednesday. The Japanese ‘Nikkei’ was trading down 25 points while the Hang Seng was flat after seeing a sharp correction yesterday.

Overnight, on Wall Street, US markets witnessed profit booking before the Federal Reserve meet on 1st February with both Dow Jones & Nasdaq seeing fall of 260 & 226 points respectively.

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