Markets trade lower with Nifty around 17,000-levels

13 Oct 2022 , 02:00 PM

Domestic benchmark indices trading in the red after a gap-down opening on Thursday. Both the Sensex and Nifty benchmarks are marginally lower in the afternoon market session. Moreover, on back of a surge in retail inflation to 5-month high of 7.41% in September.

On the sectoral front banking, IT index underperformed by tumbling over 1% each with all major sectors trading in the red except pharma and healthcare stocks.

At around 2:00 PM, Sensex was trading at 57,225.13 lower by 370.78 points or 0.64%. Nifty 50 traded at 17,014.10 lower 109.50 points or 0.64%

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Top Bulls on Nifty 50 are: HCL Tech (+3%), Sun Pharma (+1.39%), Hindalco (+0.96%) supported by Reliance (+0.55%) and Britannia (+0.52%). Meanwhile, top losers on Nifty are: Wipro (-7%), Adani Ports (-3.20%), SBI (-1.82%), SBI Life (-1.81%) and L&T (-1.81%).

Wipro shares declined around 7%, gives up Rs400-mark after Q2 earnings. Furthermore, TVS Motor surpasses Hero MotoCorp in market capitalization to become the sixth largest automobile company. Now TVS’ m-cap stands at Rs51,681 crore a s compare to that of Hero MotoCorp at Rs50,951 crore.

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