Bourses trade volatile in late afternoon session

Indian equity markets traded volatile in late afternoon session. The broader indices, BSE Mid cap index and Small cap index were trading in green. Traders were seen piling up positions in Basic Materials, Oil & Gas and FMCG sectors while selling was witnessed in Capital Goods, Telecom and Consumer Durables sectors’ stocks. The overall breadth too was fairly positive, with more than 2,000 advancing shares on the BSE versus 1277 declining stocks. Sector wise, power sector remained in focused, as ministry of Power in its latest report has said that CPSEs under Ministry of Power have incurred capital expenditure (capex) of Rs. 40395.34 crore till the month of December during FY2021-22, 47% higher than the expenditure incurred during the corresponding period of FY 2020-21. On the global front, Asian markets were trading mixed after more declines in big technology stocks pulled major indexes lower on Wall Street. European markets were trading lower as investors bet Friday’s U.S. jobs data would do little to change the Federal Reserve’s path toward faster-than-expected tightening.

The BSE Sensex is currently trading at 59,619.73, up by 17.89 points or 0.03% after trading in a range of 59401.44 and 60130.18. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.31%, while Small cap index was up by 0.28%.

The top gaining sectoral indices on the BSE were Basic Materials up by 0.71%, Oil & Gas up by 0.57%, FMCG up by 0.52%, Energy up by 0.38% and Bankex was up by 0.26%, while Capital Goods down by 0.93%, Telecom down by 0.58%, Consumer Durables down by 0.47%, Auto down by 0.42%, Healthcare down by 0.33% were the top losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 1.35%, TCS up by 0.99%, Wipro up by 0.97%, Hindustan Unilever up by 0.88% and Nestle up by 0.85%. On the flip side, Bajaj Finserv down by 1.81%, Mahindra & Mahindra down by 1.64%, Bajaj Finance down by 1.50%, Larsen & Toubro down by 1.25% and HDFC down by 1.24% were the top losers.

Meanwhile, ministry of Power in its latest report has said that CPSEs under Ministry of Power have incurred capital expenditure (capex) of Rs. 40395.34 crore till the month of December during FY2021-22, 47% higher than the expenditure incurred during the corresponding period of FY 2020-21.

The report further noted that thus, the capex performance of the Ministry is significantly better compared to the previous year. It also showed that the CPSEs have also collectively met 80% of the capex target of FY2021-22, i.e. Rs.50,690.52 crore. The top performers among the power sector CPSEs include Power Grid (90.6%), SJVN (90.19%), NTPC (86.5%) and THDC (85.38%).

According to the report, the Ministry of Power has laid a strong emphasis on accelerating the pace the capital expenditure of the power sector projects. Besides, regular monitoring and reviews are held to resolve issues hindering the implementation of the projects.

The CNX Nifty is currently trading at 17749.85, up by 3.95 points or 0.02% after trading in a range of 17704.55 and 17905.00. There were 22 stocks advancing against 28 stocks declining on the index.

The top gainers on Nifty were Grasim Industries up by 3.80%, ONGC up by 3.22%, Tata Consumer up by 1.97%, Shree Cement up by 1.67% and Hindalco up by 1.62%. On the flip side, Bajaj Finserv down by 1.79%, Mahindra & Mahindra down by 1.66%, Bajaj Finance down by 1.63%, Tata Steel down by 1.21% and Larsen & Toubro down by 1.18% were the top losers.

Asian markets were trading mixed, Hang Seng increased 420.52 points or 1.82% to 23,493.38, Jakarta Composite soared 47.97 points or 0.72% to 6,701.32, KOSPI rose 34.36 points or 1.18% to 2,954.89 and Straits Times was up by 21.09 points or 0.66% to 3,205.39. On the flip side, Shanghai Composite declined 6.54 points or 0.18% to 3,579.54, Nikkei 225 slipped 9.31 points or 0.03% to 28,478.56 and Taiwan Weighted was down by 198.16 points or 1.08% to 18,169.76.

European markets were trading lower, UK’s FTSE 100 decreased 10.28 points or 0.14% to 7,440.09, France’s CAC decreased 13.68 points or 0.19% to 7,235.98 and Germany’s DAX was down by 67.04 points or 0.42% to 15,984.99.