Opening Bell: Markets trade in the red amid geopolitical tensions between US and China

Asia Pacific markets plunge heavily. 

On Tuesday morning, the benchmark equity indices were trading flat amidst mixed reactions from global markets. The US Equity indices, The Dow Jones and S&P 500 gained by 0.83% and 1.1%, respectively, whereas the tech-heavy Nasdaq index ended lower by 0.18% on Monday’s session.

Shares in the Asia Pacific markets were trading lower as the Hang Seng index dropped by 2.7% and the Shanghai Composite index fell by 2.86%. Meanwhile, Japan’s Nikkei Index was also trading lower by 1.4%. This happened on the back of the geopolitical tensions arising over US Speaker Nancy Pelosi’s visit to Taiwan and China’s forewarning to the US in that matter.

The Sensex is at 58.101.94, down by 13.65 points or 0.02% whereas the Nifty 50 is trading at 17,317.50, down by 22.55 points or 0.14%, since the last trading session. Nifty Bank was also down by 0.16% and trading at 37,840.75. BSE Midcap was trading at 24,487.76, up by 0.02% and BSE Smallcap was at 27,547.97, up by 0.34%.

The top gainers on the frontline indices this morning were IndusInd Bank, Asian Paints, ITC, SBI, Hindustan Unilever, and Reliance Industries. Whereas the top losers are Tata Steel, HDFC, ICICI Bank, Tech Mahindra, and Larsen and Toubro.

On the BSE, 1652 shares have advanced,1106 shares have declined and 128 are unchanged. Also,140 stocks have hit their upper circuit and 78 stocks have hit their lower circuit.

The top trending stocks on BSE, this morning are Adani Enterprises, Deepak Fertilisers, Adani Transmission, Kansai Nerolac, and Siemens. The shares of ITC, Reliance Industries, Tata Motors, and Zomato are witnessing high turnover this morning.

On the sectoral front, only FMCG, Utilities, Energy, and Telecom stocks are seen gaining on the bourses.

Adani Green Energy, Accelya Kale, Bank of India, Bosch, Lemon Tree Hotels, and JM Financial Services are some of the major companies that are going to report their results for Q1FY23 today.