Bourses extend gains in late afternoon session

Indian equity markets extended their gains in late afternoon session. Among heavy-weights HCL Tech, Bharti Airtel and TCS exhibited a smart performance. Traders remained optimistic after Investment through participatory notes (P-notes) in the domestic capital market rose to Rs 1.02 lakh crore till July-end, making it the highest level in last 40 months. This also marks the fourth consecutive monthly growth. Besides, Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1283448 new jobs in the month of June 2021. On the global front, Asian markets were trading mostly in green amidst a recovery in crude oil prices and positive U.S. stock futures. European markets were trading higher after a bruising selloff last week on global growth worries, while investors awaited a raft of business activity data.

The BSE Sensex is currently trading at 55665.02, up by 335.70 points or 0.61% after trading in a range of 55240.29 and 55781.17. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.35%, while Small cap index was down by 0.93%.

The top gaining sectoral indices on the BSE were Telecom up by 1.93%, TECK up by 1.79%, IT up by 1.64%, Energy up by 0.88% and Oil & Gas was up by 0.69%, while Basic Materials down by 0.84%, Consumer Discretionary down by 0.79%, Consumer Durables down by 0.76%, Auto down by 0.57%, Industrials down by 0.43% were the losing indices on BSE.

The top gainers on the Sensex were HCL Tech up by 4.62%, Bharti Airtel up by 2.59%, TCS up by 2.42%, Bajaj Finserv up by 2.31% and Bajaj Finance up by 2.04%. On the flip side, Ultratech Cement down by 1.76%, Mahindra & Mahindra down by 1.36%, Power Grid down by 1.23%, Asian Paints down by 0.95% and ITC down by 0.86% were the top losers.

Meanwhile, the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1283448 new jobs in the month of June 2021.

As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Trading-Commercial Establishments; Establishment Engaged in Manufacture, Marketing Servicing; Engineers- Engineering Contractors; Building & Construction Industry; Financing Establishment and Hospitals. In the similar age bracket, Maharashtra was the first among the States to create maximum payroll, followed by Karnataka, Gujarat, Tamil Nadu, Haryana and Delhi.

According to the data report, 9515 new jobs were created in less than 18 age group category, while 281772 jobs in 18-21 age group category. Further, 22-25 age, 26-28 age, 29-35 age and more than 35 age group category witnessed 332821, 180324, 254660 and 224356 new payrolls, respectively in June 2021.

The CNX Nifty is currently trading at 16526.75, up by 76.25 points or 0.46% after trading in a range of 16395.70 and 16592.50. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were HCL Tech up by 4.83%, TCS up by 2.50%, Bharti Airtel up by 2.49%, Bajaj Finserv up by 2.24% and Bajaj Finance up by 1.86%. On the flip side, Tata Consumer down by 2.11%, Grasim Industries down by 1.83%, Ultratech Cement down by 1.77%, Eicher Motors down by 1.64% and Tata Motors down by 1.52% were the top losers.

Asian markets were trading mostly in green, Nikkei 225 surged 480.99 points or 1.78% to 27,494.24, Taiwan Weighted strengthened 399.90 points or 2.45% to 16,741.84, Hang Seng increased 259.87 points or 1.05% to 25,109.59, Jakarta Composite soared 79.06 points or 1.31% to 6,109.83, Shanghai Composite gained 49.80 points or 1.45% to 3,477.13 and KOSPI was up by 29.70 points or 0.97% to 3,090.21. On the flip side, Straits Times was down by 13.38 points or 0.43% to 3,089.37.

European markets were trading higher, UK’s FTSE 100 increased 19.69 points or 0.28% to 7,107.59, France’s CAC increased 35.89 points or 0.54% to 6,662.00 and Germany’s DAX was up by 5.29 points or 0.03% to 15,813.33.