Sensex, Nifty fall in early deals tracking losses in global markets; Sun Pharma top gainer

Sun Pharma, Nestle India, ICICI Bank, Power Grid, Bharti Airtel were the top contributors to benchmark indices. On the flip side, NTPC, Bajaj Finance, Wipro, HCL Tech, Infosys, Adani Ports SEZ were among the drags. Shares of Bharti Airtel gained over 1 per cent after the telecom operator reported a five-fold jump in consolidated net profit YoY.
Sensex red.

Sensex, Nifty fall in early deals tracking losses in global markets; Sun Pharma top gainer

New Delhi: Domestic benchmark indices slipped into red after opening in the green in early deals on Wednesday tracking global peers. Investors are currently awaiting a key US inflation report which could give hints to the Federal Reserve's monetary tightening path.
The BSE Sensex declined over 100 points to trade around 58,600 levels while NSE Nifty50 dropped below the 17,500 levels.
Sun Pharma, Nestle India, ICICI Bank, Power Grid, Bharti Airtel were the top contributors to benchmark indices. On the flip side, NTPC, Bajaj Finance, Wipro, HCL Tech, Infosys, Adani Ports SEZ were among the drags.
On the stock-specific front, shares of Bharti Airtel gained over 1 per cent after the telecom operator reported a five-fold jump in consolidated net profit year-on-year (YoY) to Rs 1,607 crore in Q1FY23.
Delhivery shares declined over 5 per cent after the logistics firm net loss widened to Rs 399 crore in Q1FY23.
Sectorally, Nifty led Auto and Nifty FMCG indices led the charge. Nifty IT and Nifty Realty, however, were bogged down in trade. However, broader markets were positive in opening trade as Nifty Midcap 100 and Nifty Small Cap 100 gained up to 0.2 per cent.
In global markets, Asian markets tracked Wall Street, which closed on Tuesday with all three major indices down. While the S&P 500 fell 0.42 per cent, the Dow Jones Industrial Average dropped 0.18 per cent, and the Nasdaq Composite lost 1.19 per cent.
Meanwhile, domestic markets were closed for trade on Tuesday to mark the occasion of Muharram.
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