Markets Update: Sensex, Nifty20 trade mute intraday – metal, FMCG and IT stocks drag

Amid volatility, the Indian markets are trading flat swinging between the red and green zone intraday on Wednesday. The Sensex is down over 200 points from day’s high level, while the Nifty50 sustained above key sentimental level of 17200-mark. The market is mainly dragged by metal, FMCG and IT stocks. 

At around 1:13 pm, the BSE Sensex was down marginally 10 points or 0.02 per cent to 57888 level, while the Nifty50 was too down marginally by 10 points or 0.06 per cent to 17223 mark intraday. 

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On the other hand, the broader markets are trading mixed with mid-cap, following the benchmarks suite, down marginally 0.02 per cent, while small-cap was up nearly half a per cent intraday. 

Even the 12-share banking index, Nifty Bank was trading flat with positive bias, up nearly 25 points or 0.07 per cent to 35208 level, led by IndusInd Bank and ICICI Bank intraday. 

Of 50 stocks on Nifty, 22 are advancing and 28 are on declining trend intraday. Sun Pharma continued its winning streak for the second straight session, to be a top gainer intraday up over 2 per cent, followed by IndusInd bank also up over 2 per cent. 

Other stocks such as Dr Reddy, Eicher Motor, Divis Lab, SBI Life, Titan each surging between 1-2 per cent intraday. On the contrary, Coal India, Grasim, ONGC, Tata Steel, ITC are the top laggards in hierarchy each down between 1-2 per cent intraday. 

Almost all sectoral indices are in the red, with Nifty Metal dragging the market most by around 1 per cent, followed by Nifty FMCG. While Nifty Pharma is adding the strength to the market, up over 1 per cent, followed by Nifty Bank, Financial and Auto.  

In the broader markets, Both realty and media indices are impacting the mid and small-cap markets to trade mute intraday on Tuesday.