Markets trade marginally higher ahead of meetings data

12 Jun 2023 , 01:09 PM

Indian stock markets are trading flat in the Monday afternoon session ahead of directions from key central bank meetings. Domestic retail inflation reading is set to be released later in the day.

On the sectoral front, Nifty Bank and FMCG are trading with a marginal downside. Nifty IT and Realty stocks are trading with an uptick of ~1%. All other sectoral indices are keeping the firm ground.

At around 1.00 PM, BSE Sensex is trading 93 points higher at 61,718.70. NSE Nifty is up by 33 points at 18,596. India’s VIX is up by 1.73%.

HCL Tech (+2.45%), BPCL (+2.18%), and Infosys (+2.16%) led the gainers’ chart. NTPC (+1.64%) and Tech Mahindra (+1.37%) are trading with over ~1% gains each.

Larsen & Toubro (0.87%), and Power Grid (-1.02%) are trading 1% lower. ITC (-1.01%), Maruti Suzuki (-0.83%), and Titan (-0.60%) are trading with marginal decline.

A total of 34 stocks advanced, and 16 declined on the nifty index.

Globally, the recent unexpected increase in interest rates by the Bank of Canada has led to continued weak sentiment, as there are concerns that the U.S. Federal Reserve might adopt a similarly strict monetary policy during its upcoming meeting.