Market Live: Indices trading lower amid volatility ahead weekly expiry

 

Stock Market Live Updates Today 16 March 2023: Indian stock markets opened flat on Thursday amid negative global cues. The Nifty index opened at 16994.65 levels, up by 22.5 points while Sensex made a slightly negative opening of 45.1 points at 57510.80 levels. Soon after opening the domestic markets turned negative due to a fresh sell-off in the banking sectors amid concerns about the debt woes of Credit Suisse.

The turmoil in Banks spread worldwide and this raised concerns that the global economy could see a significant slowdown in the near to medium term. Earlier Sensex and Nifty breached their crucial 57,300 and 16,900 levels as selling got intensified in counters such as Metal, Industrials, and Capital Goods in the early morning deals. 

The downside of the market is limited, as Credit Suisse announced that it will borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank to boost liquidity and the news came shortly after the share Swiss lender fell sharply on Wednesday.

The market sentiments are also dented due to continued foreign fund outflows from domestic equity markets. The National Stock Exchange`s provisional data showed foreign institutional investors (FII) sold shares worth Rs 1,271.25 crore on March 15.

 

Stock Market Live Today 

 

Stock Market Live at 12.30 pm IST, the Indian stock market indices, Sensex and Nifty are trading lower by 0.25 percent and 0.29 percent respectively. The Bank Nifty is trading down by 0.64 percent at 12.30 pm IST. The broader markets are underperforming their larger peers, as the Nifty mid and smallcap indexes are trading lower by 0.38 and 0.79 percent respectively.

Among the sectors, the metals, IT, and Banking sectors are trading lower at this moment. The sectors that are trading higher and lifting the markets are Nifty Media, Pharma, and Energy. The top-gaining stocks in the Nifty 50 index are BPCL, Titan, and Nestle, and the top-losing stocks are Hindalco, Tata Steel, and IndusInd Bank.

 

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