Sensex, Nifty enter into green terrain

Erasing all of their losses, Indian equity markets entered into green terrain in late afternoon session, on account of firm European markets. In late noon deals, market participants were seen taking note of reports that India received the foreign direct investments (FDI) inflow of $64.37 billion during the financial year 2018-19 (FY19). According to the Annual Report 2018-19 of the Department for Promotion of Industry and Internal Trade (DPIIT), FDI worth $286 billion were received in the country in past five years. The street also got comfort as Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan launched Atal Community Innovation Centre (ACIC) in New Delhi, to encourage the spirit of innovation at the community level. This initiative aims to encourage the spirit of innovation through solution-driven design thinking to serve society.

On the global front, European markets were trading in green, as France's headline consumer prices inflation slowed in July, defying expectations for stability, while the EU measure of price growth eased less-than-expected. The flash data from the statistical office INSEE showed that the flash consumer price index rose 1.1 percent year-on-year following a 1.2 percent increase in June. However, Asian markets were trading red.

The BSE Sensex is currently trading at 37508.44, up by 111.20 points or 0.30% after trading in a range of 37128.26 and 37524.03. There were 23 stocks advancing against 8 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.44%, while Small cap index was up by 0.01%.

The top gaining sectoral indices on the BSE were Metal up by 1.69%, Auto up by 1.43%, PSU up by 1.15%, Capital Goods up by 0.91% and Oil & Gas up by 0.90%, while Telecom down by 1.66%, Realty down by 0.79%, Consumer Durables down by 0.27% and Energy down by 0.06% were the top losing indices on BSE.

The top gainers on the Sensex were Indusind Bank up by 5.12%, Yes Bank up by 4.76%, Hero MotoCorp up by 4.04%, Sun Pharma up by 3.45% and Tata Steel up by 2.50%. On the flip side, Axis Bank down by 5.03%, Bharti Airtel down by 2.49%, Tech Mahindra down by 1.30%, NTPC down by 0.86% and Bajaj Finance down by 0.77% were the top losers.

Meanwhile, Goods and Services Tax Network (GSTN) has unveiled trial version of offline tools for GST forms related to supply of goods and services. The offline tools have been released for Annexure of supplies (GST ANX-1) and Annexure of Inward Supplies (GST ANX-2).

These two forms will be part of the proposed GST Return filing system under which a taxpayer would have to file form GST RET-1 (Normal) or form GST RET-2 (Sahaj) or form GST RET-3 (Sugam) on either monthly or quarterly basis.

All the outward supplies will be detailed in GST ANX-1, while GST ANX-2 will contain details of inward supplies auto-populated mainly from the suppliers’ GST ANX-1. The forms will also contain details auto-populated from form GSTR-5 and form GSTR-6.

The CNX Nifty is currently trading at 11134.80, up by 49.40 points or 0.45% after trading in a range of 10999.40 and 11135.85. There were 38 stocks advancing against 12 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 5.32%, Yes Bank up by 5.06%, Indian Oil Corporation up by 4.31%, Hero MotoCorp up by 4.29% and UPL up by 3.77%. On the flip side, Axis Bank down by 4.90%, Zee Entertainment down by 4.20%, Bharti Airtel down by 2.91%, Bharti Infratel down by 1.66% and Titan down by 1.45% were the top losers.

All Asian markets were trading in red; Hang Seng decreased 368.75 points or 1.31% to 27,777.75, Nikkei 225 slipped 187.78 points or 0.86% to 21,521.53, Straits Times trembled 24.11 points or 0.72% to 3,326.43, Jakarta Composite lost 16.36 points or 0.26% to 6,360.64, KOSPI fell 5.25 points or 0.26% to 2,033.43, Shanghai Composite declined 14.08 points or 0.48% to 2,938.26 and Taiwan Weighted was down by 7.09 points or 0.07% to 10,823.81.

European markets were trading mostly in green; DAX gained 22.95 points or 0.19% to 12,170.19 and CAC was up by 5.16 points or 0.09% to 5,516.23, while FTSE was down by 25.20 points or 0.33% to 7,621.57.