Stock Market Live Today: Indices are trading lower | IT index drags
Stock Market Live Today 13 April 2023: Indian stock markets opened slightly lower on Thursday amid negative cues from the global markets. The Nifty index opened at 17807.30 levels, down by only 5.1 points, while Sensex opened marginally lower by 28.36 points at 60364.41 levels. The domestic equity market indices are trading below their neutral line in the morning deal.
Weakness across the global peers is seen today, as FOMC meeting minutes showed that Fed officials expect a mild recession in the US at the end of this year. The surges in crude oil prices also dampened the domestic market sentiments. Volatility in the markets to continue in today’s trade ahead of F&O expiry later in the day.
Meanwhile, markets tried to recover their lost ground but failed to remain in green terrain and came down below neutral lines in early deals. Traders were concerned over the growth prospects as the UN Trade and Development Conference (UNCTAD) in its latest Trade and Development Report Update stated that India`s economic growth is projected to decelerate to 6 % in 2023 from 6.6 % in 2022.
However, easing retail inflation and growth in industrial production has supported the markets and restricted the downside. Besides, foreign investors continued to buy in the domestic markets, as National Stock Exchange`s provisional data showed that foreign institutional investors (FII) bought shares worth Rs 1,907.95 crore on April 12.
Stock Market Live Today
Market Live at 11.35 am IST, the Indian stock market indices, Sensex and Nifty are trading lower by 0.39 percent and 0.34 percent respectively. The Bank Nifty is trading higher by 0.19 percent at 11.35 am IST. The broader markets are trading flat to positive, as the Nifty mid and smallcap indexes are trading slightly higher by 0.03 percent and 0.05 percent respectively.
Among the sectors, Realty, Banking, and Auto sectors are trading higher while the IT, Media, Pharma, and Metals sectors are trading in the red.
The top-gaining stocks in the Nifty 50 index are Apollo Hospital, Eicher Motors, and Bratinna and the top losing stocks are TechM, Infy and HCLTech
The most active stocks in NSE in terms of value are ICICI Bank, HDFC Bank, and TCS, in terms of volume Tata Steel, ICICI Bank, and SBI
On the global front, the other Asian stock markets are mostly trading lower as Federal Reserve warns of mild recession risk by the end of this year in the US, due to the recent banking crisis.
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