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Wednesday, February 1, 2023

Stock markets give up early gains; coupled with weak global markets

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Equity benchmarks gave up early gains on Wednesday and later traded lower along with weak global markets.



The 30 shares of BSE Sensex, which climbed 82.36 points to 59,113.66 in early trading, later fell into negative territory. Similarly, the broader NSE useful was up 27.9 points to 17,605.40 in initial trading, but failed to maintain momentum.

Both benchmark indices later traded lower, with the Sensex falling 146.56 points to 58,884.74 and the Nifty falling 43.95 points to 17,533.55.

From the Sensex package, Asian PaintsTitan, Larsen & Toubro, Maruti, Hindustan Unilever, Nestle, Tata Steel, Bharti Airtel and State Bank of India were among the big laggards.

On the other hand, IndusInd Bank, Sun Pharma, Reliance IndustriesITC and Power Grid were the winners.

In Asia, markets in Shanghai, Tokyo and Hong Kong were trading lower, while Seoul traded in the green mid-session.

Wall Street ended lower on Tuesday.

The BSE benchmark climbed 257.43 points or 0.44 percent to settle at 59,031.30 Tuesday. The Nifty rose 86.80 points or 0.50 percent to 17,577.50.

Meanwhile, the international oil benchmark Brent oil fell 0.40 percent to $99.82 a barrel.

Foreign institutional investors (FIIs) bought shares worth Rs 563 crore on Tuesday, according to data from the exchange.

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