Stock Market LIVE: Sensex, Nifty erase early losses | FMCG, Metal gain

 

Stock Market LIVE Today 23 March 2023: Indian stock market indexes opened lower on Thursday tracking negative cues from Wall Street after US Fed announced 25 bps rate hikes overnight. The Nifty index opened at 17097.40 levels down by 54.5 points while Sensex made a negative opening of 153.18 points at 58061.41 levels. Soon after opening equity benchmarks pared early losses and are trading near their neural lines.

Other than the negative cues from Wall Street overnight, traders were also cautious, as Fitch Ratings said India has some room to cut capital expenditure in FY24 as there may be pressure on revenue as the buoyancy assumptions in the Union budget may be inflated. 

However, markets later took some support amid foreign fund inflows, as FIIs turned net buyers after selling nine consecutive trading sessions in March. The National Stock Exchange`s provisional data showed foreign institutional investors (FII) bought shares worth Rs 61.72 crore on March 22.

 

Stock Market Live Today 

 

Market Live at 12 pm IST, the Indian stock market indices, Sensex and Nifty are trading slightly higher by 0.08 percent and 0.07 percent respectively. The Bank Nifty is trading almost flat, trading slightly up by 0.09 percent at 12 pm IST. The broader markets are trading mixed, as the Nifty midcap is trading lower by 0.21 percent while smallcap index is trading higher by 0.10 percent at this moment.

Among the sectors, the FMCG, Metals, and Auto sectors are trading higher while the IT, PSU Bank, and Realty sectors are trading in the red at this moment.

The top-gaining stocks in the Nifty 50 index are Hindalco, Tata Motors, and Nestle the top-losing stocks are Asian Paints, Bajaj Auto, and HCLTech

The most active stocks in NSE in terms of value are Reliance, ICICI Bank, and HDFC Bank, and in terms of volume are SBI, Tata Steel, and Power Grid.

 

Global Cues

 

Meanwhile, on the global front Asian markets are trading mostly higher on Thursday as US Fed’s rate hike was in line with expectations. Some traders are concerned after Treasury Secretary Janet Yellen said in response to a question that officials are not considering a ‘blanket insurance’ for bank deposits, in regards to the recent banking crisis.

Indonesian stock markets are closed today due to New Year Holiday. The US key index futures, Dow, and Nasdaq futures are trading higher at this moment.

 

Also, read  Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स 

                 Trade Setup for Thursday 23 March: Stock Market News  

                    

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Editor’s Desk