Indian equities break five-day losing streak - 16 March 2023

The Indian stock markets witnessed a day of mixed trading on Thursday, with some stocks registering gains while others saw losses. Despite a volatile session and mixed global cues, the BSE Sensex managed to close 79 points higher at 57,635, and the broader NSE Nifty gained 13 points to end at 16,985. The banking, financial, and FMCG sectors led the way in terms of gains, with Nestle, Titan, Asian Paints, and HUL all performing well. However, Tata Steel, IndusInd Bank, Bharti Airtel, and Infosys saw losses.

In the Nifty index, the media sector and FMCG gained by 4.16% and 1.14%, respectively. Meanwhile, the Nifty Midcap50 rose by 0.52%, while the Smallcap50 saw a decline of 0.38%.

After reaching their lowest level in 15 months in the previous session, crude oil prices increased on Thursday. Brent crude futures was up by 1.06% hitting $74.47 per barrel.

The Indian rupee lost marginally by 0.17% against the US dollar, with one dollar traded at 82.73 Indian rupees. The decline was attributed to concerns over a European lender, which affected overall market sentiment. The dollar index, which tracks the greenback's movement against six major currencies, declined by 0.21% to 104.42 levels.