Markets tumble in red

17 Feb 2023 , 02:00 AM

In the afternoon session on Friday, Indian equities were on a downward trend on negative global cues. Latest economic data from the United States reinforced the belief that the Federal Reserve will maintain  higher interest rates for an extended period of time.

The decline in domestic equities can be attributed to a downturn in Wall Street. This was caused by the release of new data indicating a greater-than-anticipated increase in producer prices for January, coupled with a reduction in the number of jobless claims.

At around 2.00 PM, BSE Sensex was trading 464 points lower at 60,855 points. NSE Nifty shed 0.75%, and was trading at 17,906 points.

All 13 major indices on the NSE were trading in red. Nifty Bank and PSU shed nearly 2%. Heavyweights IT and Financial services indices cut off about 1%.

Larsen & Toubro (+2.29%), and Ultratech Cement (+2.15%) topped the Nifty gainers’ chart with over a 2% uptick. Hero MotoCorp (+1.56%), BPCL (+1.34%), and Asian Paints (+0.86%) followed the lead with about 1% gain each.

Adani Enterprises (-4.78%) emerged as the top loser on the Nifty index. IndusInd Bank (-3.07%) and Nestle India (-2.95%) lost about 3% each. SBI Life (-2.47%) and HDFC Life (-2.00%) registered above a 2% downside.

Of the total stocks on NSE, 35 stocks declined, 13 advanced, and 2 remain unchanged.

For feedback and suggestions, write to us at [e-mail]