Stock Market Live: Sensex, Nifty trading higher amid volatility

 

Stock Market Live Updates Today 22 March 2023: Indian stock market indexes opened higher on Wednesday tracking positive global cues. The Nifty index opened at 17177.45 levels, up by 69.95 points while Sensex made a positive opening of 170.58 at 58245.26 levels. The benchmark indexes trimmed their early gains in the morning deals and are trading slightly above their neutral lines.

The market sentiments got boosted, as traders became optimistic about the financial sector’s outlook following U.S. Treasury Secretary Janet Yellen’s reassurances to safeguard against further banking crises overnight. While some cautiousness is also seen in the markets as investors are looking ahead to the US Fed monetary policy decision after the recent banking turmoil. The policy outcome is due later in the day following Fed Chair Jerome Powell’s conference.

The market participants were also getting some encouragement as the Reserve Bank of India (RBI) in its monthly bulletin published on Tuesday has said unlike the global economy, India would not slow down and maintain the pace of expansion achieved in 2022-23.

It further said the February month’s economic data release indicates that the Indian economy is intrinsically better positioned than many parts of the world to head into a challenging year ahead, mainly because of its demonstrated resilience and its reliance on domestic drivers.

 

Stock Market Live Today 

 

Market Live at 12 pm IST, the Indian stock market indices, Sensex and Nifty are trading higher by 0.23 percent and 0.25 percent respectively. The Bank Nifty is trading up by only 0.17 percent at 12 pm IST. The broader markets are outperforming their larger peers, as the Nifty mid and smallcap indexes are trading up by 0.49 and 0.85 percent respectively.

Among the sectors, the PSU Bank, Auto, and Financial Services are trading higher while the Media stocks are trading marginally lower at this moment.

The top-gaining stocks in the Nifty 50 index are Bajaj Finserve, HDFC life, and Bajaj Finance the top-losing stocks are BPCL, Coal India, and Apollo Hospital

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

 

Global Cues

 

Meanwhile, on the global front Asian markets are trading higher following the broadly positive cues from global markets overnight. Japan led the gains in the region, up around 2% as investors awaited the US Fed interest rate decision later in the day. Other Asian stock market indexes are also trading higher 

 

Also, read   Stock Market Prediction Next Week (20-24 March 2023) 

                      Trade Setup for Wednesday 22 March: Stock Market News

                    

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