Markets trade higher with Nifty around 18,000

17 Jan 2023 , 02:00 PM

Domestic benchmark indices in a fast rally during afternoon market session after a positive start on Tuesday.

On the sectoral front, Nifty FMCG index outperforming by rising over 1% after data showed domestic inflation was easing and oil refiners rose on the government’s cut on a windfall tax on crude oil.

At around 2:00 PM, Sensex was trading at 60,462.62 higher by 369.65 points or 0.62%. Nifty 50 traded at 17,991.30 higher 96.45 points or 0.54%

Top Gainers on Nifty are L&T (+3.5%), HUL (+2.1%), HDFC (+1.5%) supported by HCL Tech (+1.4%) and HDFC Bank (+1.3%). Meanwhile, top losers on Nifty are SBI (-2.1%), IndusInd Bank (-1.2%), Bajaj Finserv (-1.08%), Tata Steel (-1%) and Coal India (-0.8%).

Furthermore, the Government has slashed windfall tax on crude oil and exports of diesel and aviation fuel. The windfall tax on crude oil has been slashed to Rs1900 per tonne from Rs2100.

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