Stock Market Live: Nifty trading below 17400, Bank Nifty down 300 pts

 

Stock Market Live Updates Today 13 March 2023: It was a cautious start for the Indian stock markets on Monday amid mixed cues from Asian markets. The Nifty index today opened at 17421.90 levels up by only 9 points while Sensex made a marginally negative opening of 101.36 points at 59033.77 levels. The domestic markets are trading highly volatile with around a 0.50 percent cut each.

Traders remain cautious amid weak global cues following the US lender Silicon Valley Bank (SVB) crisis and ahead of domestic and US inflation data. Buying witnessed in the morning deal in beaten-down but fundamentally strong stocks added to the upside on the domestic indices. Growth in industrial production of the country also lends some support to the markets. 

Adding more optimism on the street, the Central Board of Direct Taxes (CBDT) said net direct tax collection so far in this fiscal grew 17 percent to reach Rs 13.73 lakh crore, which is 83 percent of the revised target for the full financial year. Though, the upside remained limited as investors are awaiting the retail inflation data is due later in the day.

 

Stock Market Live Today 

 

Market Live at 12.20 pm IST, the Indian stock market indices, Sensex and Nifty are trading lower by 0.49 percent and 0.48 percent respectively. The Bank Nifty is down by 0.90 percent at 12.20 pm IST. The broader markets are underperforming at this moment, as the Nifty midcap index is trading lower by 1.25 percent while smallcap index is trading down by 1.44 percent

Among the sectors, barring Energy and Metals all other sectoral indices are trading lower. The sectors that are dragging down the markets are Nifty Media, Auto, and Pharma. The top gaining stocks in the Nifty 50 index are TechM, JSW Steel, and Adani Enterprise, and the top losing stocks are IndusInd Bank, Infy, and M&M

 

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