The domestic equity barometers traded with limited losses in early trade as key index pivotals witnessed some bit of selling pressure. The Nifty traded below the 18,400 level. Auto, pharma and PSU bank stocks advanced while FMCG, financials and realty shares declined.
At 09:23 IST, the barometer index, the S&P BSE Sensex, was down 122.01 points or 0.20% to 61,750.98. The Nifty 50 index gained 33.85 points or 0.18% to 18,369.55.
Hindalco (down 1.05%), Nestle India (down 0.93%), Tata Consumer (down 0.79%), IndusInd Bank (down 0.73%) and Hindustan Unilever (down 0.72%) dragged the Nifty lower.
Cipla (up 1.12%), Dr Reddy's Lab (up 0.95%), Maruti Suzuki (up 0.84%), Grasim (up 0.82%) and Adani Ports (up 0.77%) outperformed.
In the broader market, the S&P BSE Mid-Cap index rose 0.25% while the S&P BSE Small-Cap index added 0.27%.
The market breadth was strong. On the BSE, 1,533 shares rose, and 1,013 shares fell. A total of 126 shares were unchanged.
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Stocks in Spotlight:
Tata Consultancy Services (TCS) rose 0.11%. TCS has been selected as a strategic partner by TAP Air Portugal, the flag carrier airline of Portugal and a member of Star Alliance, to accelerate its digital transformation and drive innovation.
Wipro added 0.09%. The company announced new retail solutions, built on the Microsoft Cloud and Cloud for Retail, and a new Retail Innovation Experience in Mountain View, California. This physical, virtual, and hybrid Experience will deepen collaboration between Wipro and Microsoft to accelerate delivery of new solutions that will enable retailers to grow their business and build stronger customer relationships.
Bharat Electronics (BEL) gained 2.01%. BEL has signed an MoU with defence PSU Hindustan Shipyard (HSL) to carry out joint development, manufacturing and product upgrades of identified products / systems and to capitalise on the emerging opportunities in the domestic defence, nondefence and export markets.
Global Markets:
Asian stocks traded lower on Wednesday as world leaders gathered in Bali, Indonesia for a second day of the Group of 20 summit.
Meanwhile, two people were reportedly killed after a Russian-made missile fell inside Poland, the country's foreign ministry said early Wednesday. The ministry said Russia was carrying out a lengthy attack on Ukrainian infrastructure when the missile struck the village of Przewod, killing two Polish citizens.
U.S. equities were higher at the close on Tuesday, as gains in the Technology, Consumer Services and Oil & Gas sectors propelled shares higher.
U.S. producer price inflation fell to its lowest in over a year in October. The producer price index rose 0.2% in October. On a year-over-year basis, PPI rose 8% compared to an 8.4% increase in September.
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