HomeEconomyStock Market Updates: Sensex, Nifty Open Flat; Pharma, FMCG Stocks Gain

Stock Market Updates: Sensex, Nifty Open Flat; Pharma, FMCG Stocks Gain

Last Updated: March 14, 2023, 09:37 IST

Sensex Today: Domestic markets are likely to recover in Tuesday’s trading session, after two days of consecutive losses. The Sensex was down 114.36 points or 0.20% at 58,123.49, and the Nifty was down 32 points or 0.19% at 17,122.30. About 1033 shares advanced, 901 shares declined, and 105 shares unchanged.

Dr Reddy’s Laboratories, L&T, ONGC, BPCL and SBI Life Insurance were among major gainers on the Nifty, while losers were Adani Enterprises, Adani Ports, M&M, Asian Paints and IndusInd Bank.

Broader markets, too, were tepid in trade as Nifty Smallcap 100 and Nifty Midcap 100 indices slipped up to 0.3 per cent. Volatility index, India VIX, meanwhile, slipped over 3 per cent.

Sectorally, Nifty IT, and Nifty Pharma gained fractionally higher in trade, whereas the rest remained bogged down.

Among individual stocks, shares of Krsnaa Diagnostics surged over 4 per cent after it operationalised 100 more Pathology Collection Centers.

Besides, shares of Lupin gained over 1 per cent after USFDA completed inspection of Bioresearch Centre in Pune, without any observations.

Global Cues

Asian shares declined Tuesday, as investors around the world continued to be rocked by worries about what’s next to break, following the second- and third-largest bank failures in U.S. history.

Tokyo stocks opened sharply lower Tuesday after a mixed Wall Street session and falls in European markets, despite reassurance from US President Joe Biden that America’s banking system is sound. The benchmark Nikkei 225 index was down 2.33 percent, or 649.86 points, to 27,183.10 nearly an hour into trade, while the broader Topix index lost 2.95 percent percent, or 58.95 points, to 1,942.04.

Sliding bank shares dragged Wall Street down on Monday with investors worried about contagion from the Silicon Valley Bank collapse, but trade was choppy and the Nasdaq composite actually ended higher as some sectors benefited from hopes the Federal Reserve could ease up on interest rates hikes.

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