Bourses add points in late afternoon session

Indian equity markets added gains in late afternoon session on account of buying in front line counters. Traders were seen piling up positions in Auto, FMCG and Consumer Durables sectors while selling was witnessed in Metal, IT and TECK sectors’ stocks. Traders took support after bank credit grew by 13.29 per cent to Rs 123.81 lakh crore and deposits by 9.77 per cent to Rs 169.61 lakh crore in the fortnight ended on July 1. Traders took note as the finance ministry has released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15. On the global front, Asian markets were trading mixed as China GDP growth data missed forecasts and two Fed officials played down the bet for a 100-bps rate hike at the U.S. central bank's July 26-27 meeting. European markets were trading higher despite disappointing Chinese growth data and an uncertain political situation in Italy.

The BSE Sensex is currently trading at 53571.53, up by 155.38 points or 0.29% after trading in a range of 53361.62 and 53755.96. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.47%, while Small cap index was up by 0.30%.

The top gaining sectoral indices on the BSE were Auto up by 1.82%, FMCG up by 1.20%, Consumer Durables up by 1.16%, Telecom up by 1.09% and Capital Goods was up by 1.03%, while Metal down by 1.27%, IT down by 0.60%, TECK down by 0.37%, Basic Materials down by 0.23% and PSU was down by 0.21% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 2.42%, Hindustan Unilever up by 2.38%, Mahindra & Mahindra up by 2.22%, HDFC up by 1.95% and Maruti Suzuki up by 1.83%. On the flip side, Tata Steel down by 2.64%, HCL Tech down by 2.29%, Wipro down by 2.15%, Power Grid down by 1.95% and Dr. Reddy's Lab down by 1.05% were the top losers.

Meanwhile, highlighting that the evidence-based policymaking is vital for resilient economic systems, Finance Minister Nirmala Sitharaman has said that India's long-term growth prospects are embedded in public capital expenditure programs.

While expressing need for scaling up climate finance and propelling green transitions, the finance minister said that sustainable global recovery should be pivoted on climate actions. Sitharaman also shared views on G20's Health Agenda, including pandemic preparedness and response mechanisms.

Sitharaman also expressed the need for immediate mobilization and deployment of resources for health emergencies. She also called for a global coordination mechanism with WHO at its center. Besides, FM said that India is committed to supporting all efforts to protect and prepare against any future pandemic.

The CNX Nifty is currently trading at 16003.35, up by 64.70 points or 0.41% after trading in a range of 15927.30 and 16041.25. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Tata Consumer up by 2.71%, Hindustan Unilever up by 2.45%, Tata Motors up by 2.43%, Titan Company up by 2.38% and Mahindra & Mahindra up by 2.17%. On the flip side, Tata Steel down by 2.70%, Power Grid down by 2.19%, HCL Tech down by 2.17%, Wipro down by 2.09% and JSW Steel down by 1.69% were the top losers.

Asian markets were trading mixed, Nikkei 225 surged 145.08 points or 0.54% to 26,788.47, Taiwan Weighted strengthened 112.10 points or 0.78% to 14,550.62, KOSPI rose 8.66 points or 0.37% to 2,330.98 and Straits Times was up by 5.65 points or 0.18% to 3,096.28. On the flip side, Jakarta Composite lost 38.19 points or 0.57% to 6,651.90, Shanghai Composite declined 53.68 points or 1.64% to 3,228.06 and Hang Seng was down by 453.49 points or 2.19% to 20,297.72.

European markets were trading higher, UK’s FTSE 100 increased 62.17 points or 0.88% to 7,101.98, France’s CAC increased 36.35 points or 0.61% to 5,951.76 and Germany’s DAX was up by 191.29 points or 1.53% to 12,710.95.