Stock Market LIVE: Indices are trading flat amid high volatility
Stock Market LIVE: It was a negative start for the Indian stock markets on Monday tracking sluggish trade in Asian counterparts. The Nifty index today opened at 17541.95 levels down by 62.4 points while Sensex made a negative opening of 229.21 points at 59206.50 levels. Soon after opening, markets turned positive and are trading flat amid high volatility.
The market participants remained on the sidelines due to high volatility in Adani group and Banking stocks and ahead of the crucial Union Budget to be presented on February 01. The investors are also cautious ahead of the ley events lined up this week including a slew of central banks policy meetings. Meanwhile, the Indian market volatility gauge “India VIX” is up more than 5% and trading above 18 levels now
The market sentiments were dampened amid persistent selling pressure by foreign investors as FII sold shares worth a net of Rs 5,977.86 crore on January 27, 2023, according to the data available on NSE. Asian stock markets mostly erased their early gains and are trading in the red, as investors were cautious ahead of the interest rate decision by the central banks during the week.
Stock Market LIVE Today
Market Live at 12 pm IST, the Indian stock market indices, Sensex and Nifty are trading absolutely flat, with no changes from the previous close. The Bank Nifty is down by 0.56 percent at 12 pm IST. The broader markets are trading higher at this moment, as Nifty midcap and smallcap indexes are trading higher by 0.16 percent and 0.61 percent respectively at this time.
Among the sectors, Nifty PSU Bank, IT, and Pharma are trading higher whereas Energy, Bank, and Media are trading in the red. The top Nifty 5o index gainers at this moment are Bajaj Finance, Adani Enterprise, and Bajaj Finserve, and the top losers are Power Grid, IndusInd Bank, and HUL
Stocks in News Today
Genus Power Infrastructures ( 100% subsidiary company of Hi-Print Metering Solutions Pvt Ltd) bags order worth Rs 2855.96 crore for appointment of advanced metering Infrastructure Service Provider (AMISP) including design of AMI system with supply installation and commissioning of 29.49 Lakh Smart Prepaid Meters. The share price of Genus Power Infrastructures Ltd is trading higher by over 5% at Rs 90.85 per share.
HFCL bagged orders purchase orders aggregating Rs 206.67 crores from the Reliance Project and Property Management services and retail services for supplying various types of optical fiber cables. The share price of HFCL is trading higher by 1.5% at Rs 69 per share
The share price of NTPC jumped above 2% on Monday morning, after the company recorded a 5.4% year-on-year growth in standalone profit at Rs 4476 crore, impacted by lower operating margin performance. The company’s revenue grew by 37% YoY to Rs 41,411 crore compared to the year-ago period. The share price of NTPC is trading at Rs 169.75 per share
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