Indices trade with tiny gains; Nifty above 18,400

The key equity benchmarks traded with small gains in early trade. The Nifty traded above the 18,400 mark. Media, PSU bank, realty shares advanced while IT, consumer durables and health care stocks declined.

At 09:28 IST, the barometer index, the S&P BSE Sensex, was up 31.2 points or 0.05% to 61,830.23. The Nifty 50 index added 0.60 points or 0.00% to 18,415.50.

In the broader market, the S&P BSE Mid-Cap index shed 0.32% while the S&P BSE Small-Cap index gained 0.08%.

The market breadth was positive. On the BSE, 1,710 shares rose and 1,060 shares fell. A total of 106 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 710.74 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 260.92 crore in the Indian equity market on 15 December, provisional data showed.

Stocks in Spotlight:

Wipro declined 0.89%. Wipro announced a partnership with Finastra, a global provider of financial software applications and marketplaces, to drive digital transformation for corporate banks in the Middle East.

Infosys slipped 0.03%. A meeting of the board of directors of the company will be held on 11 and 12 January 2023 to approve and take on record the audited consolidated financial results of the company and its subsidiaries for the quarter and nine months ending 31 December 2022.

Reliance Industries (RIL) rose 1.13%. Reliance Digital Health, a subsidiary of RIL, has signed definitive agreements with Synchron Inc. to acquire 2.25% stake (on a fully diluted basis) in Synchron Inc. as part of its Series C financing round.

Global markets:

Asian stocks are trading lower after hawkish signals from central banks sparked a rout in US and European equities.

The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index fell to a seasonally adjusted 48.8 in December from a final 49.0 in the month of November, marking the lowest reading since October 2020.

US stocks closed sharply lower on Thursday as fears intensified that the Federal Reserve's battle against inflation using aggressive interest rate hikes could lead to a recession

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