Bourses trade with traction in late afternoon session

Indian markets traded with traction in late afternoon session on buying activities in index heavyweights, viz Wipro, Larsen & Toubro, Reliance Industries among others. Investors continued to monitor the earnings from heavyweights companies. Traders took support as private report stated that foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the second straight month after having sold two months on a trot in January and February. On the global front, Asian markets were trading mostly in green after solid earnings from Meta Platform boosted sentiment on Wall Street overnight. European markets were trading lower after data showed the economy stagnated in the first quarter of the year.

The BSE Sensex is currently trading at 60783.10, up by 133.72 points or 0.22% after trading in a range of 60507.83 and 60871.18. 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 0.93%, while Small cap index was up by 0.70%.

The top gaining sectoral indices on the BSE were Telecom up by 2.05%, Capital Goods up by 1.13%, Industrials up by 1.10%, IT up by 0.83% and Utilities was up by 0.76%, while Consumer Durables down by 0.73%, Bankex down by 0.17% and Metal was down by 0.10% were the few losing indices on BSE.

The top gainers on the Sensex were Wipro up by 2.63%, Larsen & Toubro up by 1.72%, Nestle up by 1.69%, Tech Mahindra up by 1.47% and Reliance Industries up by 1.42%. On the flip side, Axis Bank down by 2.57%, Bajaj Finserv down by 1.61%, Hindustan Unilever down by 1.47%, HCL Tech down by 1.30% and Titan Company down by 1.14% were the top losers.

Meanwhile, Union Minister Jitendra Singh has said that under Prime Minister Narendra Modi, India is fast moving to become an economic powerhouse, driven by its extraordinary technological and innovative capabilities which the whole world has begun to acknowledge, particularly after the COVID vaccine success story.

During the India-UK Science & Innovation Council meeting, the minister also said that India is on the fast track move and the nation is determined to achieve its Climate Change and Environmental targets on time. Union Minister further highlighted the close collaboration between the two countries strengthened through an ambitious ‘Roadmap 2030’ that provides a framework for UK-India relations across health, climate, trade, education, science and technology, and defence.

Besides, Jitendra Singh mentioned that India is committed towards the Environmental goals which includes consistent efforts towards development of mitigation & monitoring solutions for environmental pollution and techno based pathways for reducing the carbon emissions and achieve the ambitious net zero targets.

The CNX Nifty is currently trading at 17973.20, up by 58.15 points or 0.32% after trading in a range of 17885.30 and 17989.70. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 4.43%, Adani Ports up by 2.99%, Wipro up by 2.68%, Britannia up by 2.21% and Nestle up by 1.93%. On the flip side, Axis Bank down by 2.55%, Bajaj Finserv down by 1.55%, Hindustan Unilever down by 1.49%, JSW Steel down by 1.38% and Titan Company down by 1.36% were the top losers.

Asian markets were trading mostly in green, Nikkei 225 surged 398.76 points or 1.38% to 28,856.44, Taiwan Weighted added 167.69 points or 1.08% to 15,579.18, Hang Seng advanced 54.29 points or 0.27% to 19,894.57, Shanghai Composite strengthened 37.39 points or 1.13% to 3,323.27 and KOSPI was up by 5.72 points or 0.23% to 2,501.53. On the flip side, Straits Times fell 13.49 points or 0.41% to 3,268.54 and Jakarta Composite was down by 25.73 points or 0.37% to 6,919.75.

European markets were trading lower, UK’s FTSE 100 decreased 35.22 points or 0.45% to 7,796.36, France’s CAC fell 62.7 points or 0.84% to 7,421.14 and Germany’s DAX was down by 69.85 points or 0.44% to 15,730.60.