Stock Market Live: Nifty trading near 17650; Sensex down 600 pts
Stock Market Live Updates Today 22 Feb 2023: Indian stock market indexes opened lower on Wednesday amid weak global cues. The Nifty index opened at 17755.35 levels down by 71.35 points while Sensex made a negative opening of 280.86 points at 60391.86 levels. The domestic market indexes extended their early losses and are trading in the deep red.
The fear of monetary policy tightening by the global central banks and the escalation of geopolitical tension hit the market sentiments today. The sentiments were also downbeat, as traders were concerned as the State Bank of India (SBI) projected GDP growth of 4.6% for the December quarter, citing that as many as 30 high-frequency indicators are not as robust as they were in the previous quarters.
Meanwhile, the Indian rupee is trading almost flat against the US dollar, as investors remained cautious ahead of the release of US Fed monetary policy minutes as well as geopolitical developments.
Stock Market Live Today
Market Live at 12.25 pm IST, the Indian stock market indices, Sensex and Nifty are trading lower by 0.99 percent and 1.02 percent respectively. The Bank Nifty is down by 1.32 percent at 12.25 pm IST. The broader markets are also trading in the red today, as Nifty midcap and smallcap indexes are trading lower by 1.00 percent and 0.91 respectively.
Among the sectors, barring Nifty Pharma all other sectoral indices are trading red, led by Metal, PSU Bank, and Realty. The top gaining stocks in the Nifty 5o index are Bajaj Auto, ITC, and Divis Lab while the top losing stocks at this moment are Adani Enterprise, Adani Ports, and Grasim
Stocks in News Today
The share price of Bharat Electronics (BEL) is trading slightly lower by 0.25% at Rs 95.30 per share on Feb 22, after the company announced that it has signed a deal with the Aeronautical Development Agency (ADA) and the Defence Research and Development Organisation (DRDO) for an advanced medium combat aircraft (AMCA) Programme.
British International Investment (BII), the UK’s Development Finance Institution and impact investor and Mahindra & Mahindra (M&M) have executed a binding agreement to invest up to Rs 1,925 crore each into a wholly owned subsidiary of M&M that will be newly incorporated (EV Co.). The share price of M&M is currently trading lower by 0.91% at Rs 1339 per share
Patel Engineering has been announced as the lowest bidder by the City and Industrial Development Corporation (CIDCO) and Visvesvaraya Jala Nigam Ltd (VJNL) for works including the design and construction of a long treated water tunnel from Sai Village to Vindhane Village in Raigad District. The share price of Patel Engineering is trading higher by 0.72% at Rs 13.90 per share.
Delhivery shares declined over 2% percent and are trading at Rs 341.50 per share in early trade on February 22 after a block deal worth Rs 410 crore at a discount to market price. A block deal of 1.7 percent of the company’s equity shares happened at an average price of Rs 338, compared to the previous closing price of Rs 348.90.
The share of Adani Transmission is trading lower by 5% at Rs 789.20 per share on NSE after the company announced that it will announce debt refinancing plans soon.
IRB Infrastructure Developers jumped on bagging a Rs 2,132 crore build-operate-transfer project in Gujarat. The share price of IRB Infrastructure Developers is trading higher by above 3% at Rs 30.70 per share
Also, read Best Stock Market Books You Must Read-2023
Trade Setup for Wednesday 22 Feb: Stock Market News
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