In the morning trade, the Sensex traded below the psychological 60,000 level. Metal, IT, consumer durables stocks, financial services, bank and FMCG shares dropped. The barometer index, the S&P BSE Sensex, fell 234.86 points or 0.39% to 59,880.62. The Nifty 50 index slipped 65.40 points or 0.37% to 17,848.75.

The S&P BSE Mid-Cap index shed 0.23%, while the S&P BSE Small-Cap index jumped at 0.17%. On the Bombay Stock Exchange (BSE), 1,604 shares were high, 1,004 shares went down, and 147 shares were the same.

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Today, domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,806.62 crore, and foreign portfolio investors (FPIs) sold shares worth Rs 2,109.34 crore in the Indian equity market.

Tata Motors hit a high of 1.39%. Ford India (FIPL) and Tata Passenger Electric Mobility (TPEML) executed a unit transfer agreement on August 7, 2022.

Asian stocks were trading higher as investors looked ahead to the US consumer price index. US stocks ended firmly higher yesterday that Federal Reserve Chair Jerome Powell refrained from.

On January 11, 2023, Federal Reserve Chairman Jerome Powell argued that the central bank needs to eliminate political influence while dealing with persistently high inflation. Meanwhile, global GDP will grow by 1.7% in 2022. Additionally, the bank cut its growth forecast for 2024, citing persistent inflation and higher interest rates impacted by Russia’s invasion of Ukraine and a drop in investment.