Bourses trim some gains in late afternoon session

 Indian equity markets trimmed some of their gains in late afternoon session on account of profit booking. However, buying in metal sector stocks helped the markets to trade higher. Meanwhile, the broader indices, the BSE Mid cap index and Small cap index were trading higher. Traders found support after India has received its highest ever FDI inflow of Rs 6,31,050 crores in Financial Year 2021-22. Further, FDI Equity inflow in Manufacturing sectors has increased to Rs 1,58,332 crore in Financial Year 2021-22 from Rs 89,766 crore (FY 2020-21), which is an increase of 76%. On the global front, Asian markets were trading mostly in red as fresh concerns over economic growth in China eclipsed positive sentiments triggered by the earnings season as well as potential pause or slowdown by the Fed. Hong Kong's Hang Seng declined more than 2 percent as tech stocks and real estate stocks were under pressure. However, European markets were trading higher despite Euro zone inflation rose to another record high in July.

The BSE Sensex is currently trading at 57263.40, up by 405.61 points or 0.71% after trading in a range of 57104.81 and 57531.75. There were 23 stocks advancing against 7 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 0.98%.

The top gaining sectoral indices on the BSE were Metal up by 3.73%, Basic Materials up by 1.90%, Consumer Durables up by 1.51%, IT up by 1.32% and Energy was up by 1.25%, while Bankex was down by 0.15% was the only losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 6.28%, Sun Pharma up by 3.82%, Bajaj Finserv up by 2.77%, Indusind Bank up by 1.85% and Infosys up by 1.79%. On the flip side, Dr. Reddy's Lab down by 4.23%, Kotak Mahindra Bank down by 1.03%, SBI down by 0.85%, ITC down by 0.36% and Hindustan Unilever down by 0.35% were the top losers.

Meanwhile, expressing a need to organize small farmers in order to empower them and ensure the quality of the produce at par with global standards, Union Minister for Agriculture and Farmers Welfare, Narendra Singh Tomar has said that the emphasis is being given on increasing farmers income under the leadership of Prime Minister Narendra Modi.

The minister further noted that the Agriculture sector is reaping the fruits of concrete steps taken by Prime Minister Modi. He also said that the country is rapidly moving towards digital agriculture, adding that this is the time to make full use of technology in this computation.

During the launch of the Eleventh Agricultural Census (2021-22), Tomar said that Agriculture Census should be thought of in a broader perspective. Agricultural computations can also contribute to the mapping of crops, so that the country gets its benefits. Besides, Tomar asked the Central Departments, State Governments and concerned institutions to carry out this census with full dedication.

The CNX Nifty is currently trading at 17087.40, up by 157.80 points or 0.93% after trading in a range of 17018.15 and 17141.75. There were 40 stocks advancing against 10 stocks declining on the index.

The top gainers on Nifty were SBI Life Insuran up by 8.40%, Tata Steel up by 6.48%, Hindalco up by 4.82%, Sun Pharma up by 4.63% and HDFC Life Insurance up by 3.98%. On the flip side, Dr. Reddy's Lab down by 4.00%, Kotak Mahindra Bank down by 0.91%, SBI down by 0.81%, Divi's Lab down by 0.57% and Adani Ports down by 0.50% were the top losers.

Asian markets were trading mostly in red, Hang Seng decreased 466.17 points or 2.26% to 20,156.51, Shanghai Composite declined 29.34 points or 0.89% to 3,253.24, Nikkei 225 slipped 13.84 points or 0.05% to 27,801.64, Straits Times trembled 10.99 points or 0.34% to 3,209.66 and Jakarta Composite was down by 5.70 points or 0.08% to 6,951.12. On the flip side, KOSPI rose 16.23 points or 0.67% to 2,451.50 and Taiwan Weighted was up by 108.17 points or 0.73% to 15,000.07.

European markets were trading higher, UK’s FTSE 100 increased 51.68 points or 0.7% to 7,396.93, France’s CAC increased 96.79 points or 1.53% to 6,436.00 and Germany’s DAX was up by 105.20 points or 0.79% to 13,387.31.