Domestic benchmark indices trading in the red on Tuesday’s market session dragged by auto, IT, metal and FMCG stocks. Both the Sensex and Nifty benchmarks were marginally lower over worries of impact of high interest rateson economic growth.
Further, top leaders at the World Bank and the International Monetary Fund had also warned of a growing risk of a global recession.
On the sectoral front, auto and energy index plunged by 0.57% and 0.26% respectively while IT index also turned bearish and fell by 1% at the afternoon trade.
At around 2:00 PM, Sensex was trading at 57,630.93 lower by 360.18 points or 0.62%. Nifty 50 traded at 17,120.30 higher 120.70 points or 0.7%.
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Top Bulls on Nifty 50 are: Axis Bank(+2.12%), Asian Paints (+2.10%), Adani Enterprises (+1.56%) supported by Power Grid (+0.62%) and Bajaj Finserv (+0.34%). Meanwhile, top losers on Nifty 50 are: Divis Lab (-3.95%), IndusInd Bank (-3.74%), Dr Reddy’s (-2.63%), JSW Steel (-2.24%) and Eicher Motors (-2.22%).
Meanwhile, as per the Reuters poll, it is found that India’s retail inflation accelerated to a five month high of 7.30% in September due to increasing food prices, staying well above the Reserve Bank of India’s tolerance band for a ninth month.
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