Markets remain lackluster in late afternoon session

Indian equity bourses remained lackluster in late afternoon session, despite firm cues from European markets. Domestic sentiments were muted, amid a private report stating that India Inc's deal activity in the first six months of this year encompassing both M&A and private equity transactions, stood at $32.1 billion, down 57 per cent over last year. However, key indices managed to remain in green terrain, as rating agency CRISIL in its latest report said that the Reserve Bank's newly introduced guidelines curbing working capital limits may lead to better financial discipline.

On the global front, European markets were trading in green, as France's consumer confidence rose to the highest level in one-and-a-half years in July. The survey data from INSEE showed that the consumer confidence rose to 102 in July from 101 in June. The latest confidence index was the highest since January last year, when it was 105. However, Asian markets were trading in red.

Back home, gems and jewellery companies stocks remained in watch, after the Gems and Jewellery Export Promotion Council of India (GJEPC) said that the government's decision to give relief from IGST on re-import of goods after exhibition would help in promoting shipments of gems and jewellery.

The BSE Sensex is currently trading at 37857.28, up by 26.30 points or 0.07% after trading in a range of 37690.47 and 37978.07. There were 18 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.49%, while Small cap index was up by 0.15%.

The top gaining sectoral indices on the BSE were Auto up by 1.72%, Consumer Disc up by 0.96%, Capital Goods up by 0.94%, Bankex up by 0.86% and Healthcare up by 0.78%, while Energy down by 0.97%, IT down by 0.75%, Oil & Gas down by 0.67%, TECK down by 0.63% and Utilities down by 0.56% were the top losing indices on BSE.

The top gainers on the Sensex were Yes Bank up by 8.67%, Bajaj Finance up by 7.01%, Hero MotoCorp up by 3.40%, Bajaj Auto up by 3.02% and Mahindra & Mahindra up by 2.48%. On the flip side, Vedanta down by 4.29%, Bharti Airtel down by 1.53%, Reliance Industries down by 1.44%, Tech Mahindra down by 1.34% and HDFC down by 1.24% were the top losers.

Meanwhile, the Employees' State Insurance Corporation (ESIC) in its latest payroll data report showed that job creation was a tad higher at around 12.66 lakh in the month of May as compared to 11.15 lakh jobs in April this year.

As per the National Statistical Office (NSO) report, gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19. It further showed that gross new enrolments with the ESIC during September 2017 to March 2018 were 83.32 lakh.

The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, retirement fund body EPFO and Pension Fund Regulatory and Development Authority (PFRDA).

The CNX Nifty is currently trading at 11287.55, up by 35.40 points or 0.31% after trading in a range of 11210.05 and 11307.60. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Yes Bank up by 8.78%, Bajaj Finance up by 6.88%, Bajaj Finserv up by 6.78%, Eicher Motors up by 5.28% and Hero MotoCorp up by 3.26%. On the flip side, Vedanta down by 4.29%, Indian Oil Corporation down by 3.14%, Bharti Airtel down by 1.59%, Tech Mahindra down by 1.42% and GAIL India down by 1.30% were the top losers.

Asian markets were trading mostly in red; Hang Seng decreased 164.93 points or 0.58% to 28,429.37, Nikkei 225 slipped 98.40 points or 0.45% to 21,658.15, Jakarta Composite lost 77.09 points or 1.2% to 6,324.28, Taiwan Weighted dropped 49.43 points or 0.45% to 10,891.98, Straits Times trembled 26.42 points or 0.78% to 3,354.84 and KOSPI was down by 8.22 points or 0.4% to 2,066.26. On the flip side, Shanghai Composite was up by8.44 points or 0.29% to 2,945.80.

All European markets were trading in green; FTSE gained 14.96 points or 0.20% to 7,504.01, CAC rose 6.97 points or 0.12% to 5,585.02 and DAX was up by 20.14 points or 0.16% to 12,382.24.