Market Live Today: Nifty trading below 17100, PSU Bank, IT drag

 

Stock Market Live Today 14 March 2023: It was a cautious start for the Indian stock markets on Tuesday amid negative global cues. The Nifty index opened at 17160.55 levels, up by just 6.25 points while Sensex made a slightly negative opening of 69.1 points at 58168.75 levels. Soon after opening, indices turned volatile and extended previous session losses.

Investors remain concerned about the fallout from the Silicon Valley Bank collapse, which triggered heavy selling, particularly in the banking sector across the globe. Traders are now looking for key US inflation data due later in the day.

Traders took encouragement as Commerce and Industry Minister Piyush Goyal said the country`s goods and services exports are marching ahead to cross $750 billion in the current financial year and talks for expanding rupee trade with certain countries are at an advanced stage.

However, the downside remained capped as India’s CPI inflation in February eased as compared to January but remained above RBI’s tolerance range. India`s consumer price inflation (CPI)-based inflation data came at 6.44% in February as compared to 6.52% in January. Meanwhile, WPI numbers released on Tuesday showed that the Wholesale prices also eased to 3.85% in February vs 4.73% in January.

 

Stock Market Live Today 

 

Market Live at 12.10 pm IST, the Indian stock market indices, Sensex and Nifty are trading lower by 0.47 percent and 0.51 percent respectively. The Bank Nifty is down by 0.87 percent at 12.10 pm IST. The broader markets are also trading lower almost in line with their larger peers, as the Nifty midcap index is trading lower by 0.57 percent while smallcap index is trading down by 0.79 percent

Among the sectors, all sectoral indices are trading lower at this moment. The sectors that are dragging the markets are Nifty PSU Bank, IT, Realty, and Banks. The top gaining stocks in the Nifty 50 index are BPCL, Tata Steel, and Titan, and the top losing stocks are Adani Enterprise, Adani Ports, and TechM

 

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