Markets witness upward trend; Nifty near 19,600

7 Aug 2023 , 01:08 PM

Indian stock markets are trading with gains in Monday’s afternoon session despite caution amidst a data-heavy week that includes US inflation data and the Reserve Bank of India’s monetary policy decision.

On the sectoral front, FMCG and Consumer Durables indices are trading slightly under pressure. Pharma and Healthcare stocks are trading with an uptick of 1%. All other sectoral indices are trading in positive sentiment.

At around 1.00 PM, BSE Sensex is trading 65,905.97, higher by 185 points. NSE Nifty is trading 59 higher at 19,575.60.

Mahindra & Mahindra (+3.22%) is trading as the top Nifty gainer today, joined by Divis Lab (+2.93%). LTI Mindtree (+1.82%), SBI Life (+1.79%), and Hindalco (+1.82%) are trading 2% higher.

On the losers’ chart, Britannia Industries (-3.54%) is trading on top. Nestle India (-0.84%), SBI (-0.67%), Bajaj Auto (-0.63%), and Tata Motors (-0.59%) are the other losers.

On an individual stock basis, Paytm gained up to 11.44% after the fintech firm’s founder and CEO, Vijay Shekhar Sharma, announced plans to purchase back a 10.3% interest in the company, a unit of China’s Ant Financial.