Bourses continue to trade with healthy gains

Indian equity markets continued to trade with healthy gains in late afternoon session. Titan Company, Maruti Suzuki, Infosys, SBI were among the top gainers on Sensex, while Wipro, Nestle and Asian Paints were the top losers. The broader indices, BSE Mid cap index and Small cap index are trading with solid gains. Traders remained optimistic after private report stated that total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period. The rise shows improvement in economic activities after lifting of lockdown restrictions by states to curb the spread of deadly virus after the second wave of the COVID-19 pandemic hit the country in April 2021. In scrip specific, Reliance Industries remained in focus as Mukesh Ambani-led Reliance Industries announced that it had entered a pact to acquire New York-based premium luxury hotel the Mandarin Oriental.

On the global front, Asian markets were trading mostly in green as traders brushed off another negative performance on Wall Street as US data showed fewer new jobs than expected were created last month but that wages saw a strong gain, keeping pressure on the Federal Reserve in its battle against inflation. European markets were trading lower as traders set aside Asian gains to focus on sliding Wall Street shares and weak US data.

The BSE Sensex is currently trading at 60246.66, up by 502.01 points or 0.84% after trading in a range of 59987.18 and 60308.52. 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 0.62%, while Small cap index was up by 1.16%.

The top gaining sectoral indices on the BSE were Capital Goods up by 1.50%, Auto up by 1.50%, Bankex up by 1.37%, Realty up by 1.36% and Industrials was up by 1.33%, while there were no losers on sectoral indices on the BSE.

The top gainers on the Sensex were Titan Company up by 2.47%, Maruti Suzuki up by 2.45%, Infosys up by 2.25%, SBI up by 2.05% and Kotak Mahindra Bank up by 1.91%. On the flip side, Wipro down by 2.13%, Nestle down by 1.07%, Asian Paints down by 0.91%, Power Grid down by 0.54% and Sun Pharma down by 0.52% were the top losers.

Meanwhile, highlighting several successful initiatives taken by government, Union Minister Jitendra Singh has said that India under Prime Minister Narendra Modi is leading the 21st century Digital revolution. The Minister also said that India has emerged as a data powerhouse in the World and it is taking all steps under the leadership of Prime Minister Narendra Modi for data protection through legislative and other measures.

Jitendra Singh further said that Digital India has helped ease access to services for millions of people, particularly the poor and needy in the country and noted that whether it's issuance of Aadhar card, driving licence, birth certificate or payment of electricity bill, water bill, or income tax return, these can now be processed via Digital India platform faster & easily and even in villages, these things are being done through Common Service Centres.

Besides, Singh said that several successful initiatives have been brought about by Governments in making services faceless, paperless and cashless through electronic service delivery and subsidy disbursement using Aadhar enabled DBT, PDS, MGNREGA, LPG and Pensions are well recognized success stories. The Minister recognized 26 successful initiatives in the areas of excellence in e-Governance and underlined that it is also important to establish benchmarks and undertake independent assessments as we move forward in improving Digital Governance models.

The CNX Nifty is currently trading at 17964.10, up by 151.40 points or 0.85% after trading in a range of 17879.15 and 17981.45. There were 33 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were UPL up by 3.97%, Hero MotoCorp up by 2.66%, Maruti Suzuki up by 2.56%, Titan Company up by 2.48% and Coal India up by 2.36%. On the flip side, Wipro down by 2.24%, Asian Paints down by 0.98%, Nestle down by 0.87%, Divi's Lab down by 0.84% and Sun Pharma down by 0.63% were the top losers.

Asian markets were trading mostly in green, Hang Seng increased 253.16 points or 1.08% to 23,746.54, Taiwan Weighted strengthened 69.62 points or 0.38% to 18,239.38, Straits Times advanced 23.25 points or 0.73% to 3,228.51 and Shanghai Composite was up by 13.98 points or 0.39% to 3,593.52. On the flip side, Jakarta Composite lost 10.20 points or 0.15% to 6,691.12 and KOSPI was down by 28.17 points or 0.95% to 2,926.72.

European markets were trading lower, UK’s FTSE 100 decreased 25.20 points or 0.34% to 7,460.08, France’s CAC decreased 39.26 points or 0.54% to 7,180.22 and Germany’s DAX was down by 74.90 points or 0.47% to 15,872.84.