Markets trade under pressure amid volatility

22 Jun 2023 , 01:06 PM

Indian benchmark indices are trading in the red territory in Thursday’s afternoon session amid heavy volatility as profit-taking and negative trends are emerging in the world’s largest US markets.

Investors are highly cautious following US Fed Chair Jerome Powell’s hawkish remarks. Jerome’s testimony failed to surprise investors globally, putting pressure on global equities.

On the sectoral front, Nifty Realty and PSU Bank stocks are trading with the largest declines. All other sectoral indices are in low sentiments, dragging down the broader indices. India’s VIX is 2% higher.

At around 1.00 PM, BSE Sensex is trading 204 points lower at 63,319. NSE Nifty is trading at 18,795, registering a decline of 61 points

Among the top gainers are Divis Lab (+1.12%), Hero MotoCorp (+0.85%), HDFC (+0.69%), ICICI Bank (+0.65%), and HDFC Bank (+0.65%).

Bajaj Finance (-1.89%) is the top NSE laggard, joined by NTPC (-1.87%). Tata Consumer (-1.79%) also fell about ~2%. JSW Steel (-1.54%) and Grasim Industries (-1.52%) are also weighing down the chart.

A total of 37 stocks plunged in today’s trade on nifty, while only 13 stocks rallied.