Markets under selling pressure with Nifty around 18,100-levels

Domestic benchmark indices are trading mixed after a gap opening on Monday. Both the Sensex and Nifty indices are down slightly in the afternoon market session.

On the sectoral front, the pharma index underperformed as it fell by more than 1.4%, followed by the IT, consumer goods, and media stocks that fell marginally.

At around 2:00 PM, Sensex was trading at 60,849.47, down 100.89 points, or 0.17%. Nifty 50 traded at 18,105.70, down 11.45 points or 0.06%

The top bulls in the Nifty 50 are: Britain (+9.14%), SBI (+3.3%), Adani Enterprises (+2.5%) backed by BPCL (+2.2%) and Coal India (+1.8%). At the same time, the biggest losers in Nifty stock are: Divis Lab (-6.67%), Asian Paints (-2.32%), Cipla (-2.2%), Titan (-1.6%), Sun Pharma (-1.5%).

Moreover, State Bank of India (SBI) shares hit a record high of Rs 621.60 per share on Monday during daily trading on the Bahrain Stock Exchange after the bank’s net profit rose 73.93% year-on-year to Rs 13,265 crore in the July quarter. to September (second quarter of fiscal year 23). ), supported by improved interest margins and lower bad loan provisions.

Meanwhile, oil prices fell more than 2% in early trading on Monday after China reiterated its strict Covid containment approach to curb cases. Brent crude fell $1.58 to $96.99 a barrel, while US West Texas Intermediate crude settled at $90.84 a barrel, down $1.77.

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