Bourses continue to show positive trend

Mirroring strong global cues, Indian equity benchmarks continued to show a positive trend in late afternoon session. Metal, Basic Materials and Realty counters were on the priority list of the buyers. Some support came after Centre has launched the 'Secured Logistics Document Exchange' along with a Calculator for Green House Gas Emissions, in order to further improve ease of doing business. The Digital initiative is now set to improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability in a big way. Besides, Chief Economic Adviser (CEA) K V Subramanian stated that India is expected to hit a growth rate of 6.5-7 percent in 2022-23 and accelerate further to 8 percent in the subsequent years on the back of reforms undertaken by the government. On the global front, all Asian markets were trading higher after the Federal Reserve kept its accommodative monetary policies and signaled that economic recovery was on track. European markets were trading higher, as strong earnings from commodity majors, Airbus and others set a bright tone in markets, while concerns about China’s regulatory moves faded.

The BSE Sensex is currently trading at 52,694.55, up by 250.84 points or 0.48% after trading in a range of 52561.39 and 52777.18. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.42%, while Small cap index was up by 0.82%.

The top gaining sectoral indices on the BSE were Metal up by 5.17%, Basic Materials up by 2.47%, Realty up by 1.79%, PSU up by 1.45% and IT was up by 0.77%, while FMCG down by 0.71% and Healthcare was down by 0.02% were the only losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 6.41%, Bajaj Finserv up by 4.62%, SBI up by 2.97%, HCL Tech up by 2.25% and Sun Pharma up by 2.04%. On the flip side, Power Grid down by 25.96%, Maruti Suzuki down by 1.95%, Nestle down by 1.08%, ITC down by 1.00% and Hindustan Unilever down by 0.84% were the top losers.

Meanwhile, in order to further improve ease of doing business, Centre has launched the 'Secured Logistics Document Exchange' along with a Calculator for Green House Gas Emissions. The Digital initiative is now set to improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability in a big way.

These digital initiatives have been launched to fill the gap areas where no action has yet been taken either by private players or any of the line ministries. The Launch Event was attended by more than 75 participants from the Central Ministries, Banks, IT companies, international organizations, logistics sector stakeholders and industry bodies.

The Event emphasized on the importance of digital transformation in the logistics sector to achieve the targets of improved India’s ranking in Logistics Performance Index; reduction in logistics cost and establishment of indigenous India-specific metrics for continual improvement in logistics.

The CNX Nifty is currently trading at 15,785.95, up by 76.55 points or 0.49% after trading in a range of 15737.80 and 15817.35. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 8.58%, Tata Steel up by 6.57%, Bajaj Finserv up by 4.67%, JSW Steel up by 3.85% and SBI up by 3.03%. On the flip side, Power Grid down by 26.02%, Maruti Suzuki down by 2.15%, Nestle down by 1.13%, ITC down by 1.03% and Dr. Reddy's Lab down by 0.88% were the top losers.

All Asian markets were trading higher, Hang Seng increased 841.44 points or 3.3% to 26,315.32, Taiwan Weighted strengthened 267.59 points or 1.56% to 17,402.81, Nikkei 225 surged 200.76 points or 0.73% to 27,782.42, Shanghai Composite gained 50.13 points or 1.49% to 3,411.72, Straits Times advanced 33.10 points or 1.05% to 3,174.85, Jakarta Composite soared 32.21 points or 0.53% to 6,120.73 and KOSPI was up by 5.79 points or 0.18% to 3,242.65.

European markets were trading higher, UK’s FTSE 100 increased 41.34 points or 0.59% to 7,057.97, France’s CAC increased 45.45 points or 0.69% to 6,654.76 and Germany’s DAX was up by 13.55 points or 0.09% to 15,583.91.