Equity benchmark indices Sensex and Nifty trade flat with a negative bias on Wednesday afternoon, with the Nifty at 17,663.15, down 48 points or 0.2%, and Sensex down 186 points at 60,037 as of 12:00 PM. Nifty Bank, metals, IT trade lower, while auto and FMCG stocks trade steady.
Adani group stocks hold firm, with Adani Enterprises and Adani Ports being the top gainers of Nifty on Wednesday afternoon. Shares of IndusInd Bank surge above 1% as the street expects reappointment of a key managerial person by RBI at the bank, as per several reports. Bajaj Auto also surged over a percent after upgrades from several brokerages like JP Morgan and Motilal Oswal Financial Services.
Shares of Yes Bank, Tata Steel, and Reliance Power remain among the top volume traded stocks. Reliance Power remains in focus amid reports of large block deals in the stock.
Overall, 986 stocks advanced against 981 stocks declining on the NSE on Wednesday.