Bourses trade at new high points in late afternoon session

Markets traded at highest points of the day in late afternoon session as market participants indulged in enlarging positions. The broader indices, the BSE Mid cap index and Small cap index also traded at new high levels. Traders took note of report that Finance Ministry said stellar macroeconomic management in the midst of unprecedented global challenges has put India on a quicker recovery path than has been the case in other nations. On the global front, Asian markets were trading mostly in red with hawkish Fed meeting minutes and lingering U.S.-China tensions keeping investors nervous. European markets were trading lower as heightened concerns about an economic slowdown and further rate hikes globally dented risk sentiment, while shares of Embracer group slid after a discounted share issue.

The BSE Sensex is currently trading at 65744.85, up by 298.81 points or 0.46% after trading in a range of 65328.29 and 65749.44. There were 21 stocks advancing against 9 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.71%, while Small cap index was up by 0.65%.

The top gaining sectoral indices on the BSE were Realty up by 2.32%, Oil & Gas up by 1.82%, Utilities up by 1.75%, Energy up by 1.68% and Power was up by 1.41%, while IT down by 0.21%, TECK down by 0.15% and FMCG was down by 0.08% were the few losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 4.35%, Tata Motors up by 2.41%, Power Grid up by 2.19%, Reliance Industries up by 1.97% and NTPC up by 0.96%. On the flip side, Bajaj Finance down by 1.24%, Maruti Suzuki down by 0.99%, HCL Tech down by 0.98%, Indusind Bank down by 0.56% and Infosys down by 0.52% were the top losers.

Meanwhile, automobile dealers body Federation of Automobile Dealers Associations (FADA) in its latest report has showed that domestic automobile retail sales rose 10 per cent in June to 18,63,868 units from 17,01,105 units in the year-ago period, driven by sales growth across various segments, including passenger vehicles and two-wheelers.

As per the report, passenger vehicle retail sales increased 5 per cent to 2,95,299 units in June 2023 as against 2,81,811 units in June 2022, while two-wheeler sales climbed 7 per cent to 13,10,186 units last month as compared with 12,27,149 units in the same month last year. 

The report also showed that three-wheeler sales surged 75 per cent to 86,511 units in June 2023 from 49,299 units in June last year. Tractor retail sales jumped 45 per cent year-on-year to 98,660 units while there was a marginal rise in sales of commercial vehicles at 73,212 units in June 2023 from 72,894 units in June 2022.

The CNX Nifty is currently trading at 19456.90, up by 58.40 points or 0.30% after trading in a range of 19373.00 and 19490.20. There were 35 stocks advancing against 15 stocks declining on the index.

The top gainers on Nifty were Apollo Hospital up by 4.37%, Mahindra & Mahindra up by 4.04%, Tata Motors up by 2.41%, Power Grid up by 2.19% and Reliance Industries up by 1.72%. On the flip side, Eicher Motors down by 2.24%, HDFC Life Insurance down by 1.65%, Bajaj Finance down by 1.22%, Maruti Suzuki down by 1.15% and HCL Tech down by 0.94% were the top losers.

Asian markets were trading mostly in red, Hang Seng declined 577.33 points or 3.12% to 18,533.05, Nikkei 225 slipped 565.68 points or 1.73% to 32,773.02, Taiwan Weighted lost 294.26 points or 1.76% to 16,762.17, Straits Times fell 35.06 points or 1.11% to 3,150.32, KOSPI dropped 22.71 points or 0.89% to 2,556.29 and Shanghai Composite was down by 17.38 points or 0.54% to 3,205.57. On the flip side, Jakarta Composite was up by 39.88 points or 0.59% to 6,758.86.

European markets were trading lower, UK’s FTSE 100 decreased 86.64 points or 1.18% to 7,355.46, France’s CAC fell 116.17 points or 1.61% to 7,194.64 and Germany’s DAX was down by 147.19 points or 0.93% to 15,790.39.