Markets trade in green after hitting fresh highs

19 Jul 2023 , 01:15 PM

Indian stock markets are trading on the positive side in Wednesday’s afternoon session after hitting new highs, marking a winning streak yet another day led by foreign fund inflows and optimism in the US markets.

On the sectoral front, Nifty FMCG and IT indices are trading under pressure. All other sectoral indices are trading with gains, with PSU Bank stocks trading with over 1% gain.

At around 1.00 PM, BSE Sensex was trading at 66,897.52, up by 102 points. NSE Nifty was higher by 40 points at 19,789.75.

NTPC (+3.23%) is leading the gainers’ pack with an uptick of over 3%. IndusInd Bank (+2.79%) also jumped nearly 3% following the release of strong Q1 numbers. Baja Finance (+2.06%) and Tata Motors (+1.68%) are lending support to the overall upside. Bajaj Finserv (+1.22%) is trading 1% higher.

Hindalco (-0.80%), ITC (-0.69%), LTIMindtree (-0.54%), Nestle India (-0.50%), and Hero MotoCorp (-0.48%) are the top losers, so far.

The markets remain resilient, aided by a favourable global backdrop and consistent FII inflows. It is critical to grasp that the current global market surge is being driven primarily by the strength of the US economy.

A total of 28 stocks advanced, and 22 declined on the nifty index today.