Bourses add points in late afternoon session

In volatile trading session, the Indian benchmarks extended their gains in late afternoon session. Traders continued to take support as India’s inflation based on wholesale price index (WPI) deflated for the third straight month in June, on the back of fall in prices of mineral oils, non-food Articles, crude petroleum & natural gas and electricity. WPI inflation stood at (-) 4.12% for the month of June 2023 against (-) 3.48% recorded in May 2023. Traders took note of report that Cooperation Minister Amit Shah said the contribution of agriculture and allied sectors to the country's GDP can be further enhanced by strengthening marketing, for which Farmer Producer Organisations (FPOs) are the key.

On the global front, Asian markets were trading mostly in green with optimism about receding inflation in the U.S. and China stimulus hopes aiding sentiment. European markets were trading mostly in green as U.S. inflation and interest-rate worries receded and investors pinned hopes of more Chinese stimulus to revive stalling growth in the world's second largest economy.

The BSE Sensex is currently trading at 65859.17, up by 300.28 points or 0.46% after trading in a range of 65610.82 and 65917.80. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.66%, while Small cap index was up by 1.01%.

The top gaining sectoral indices on the BSE were IT up by 3.96%, TECK up by 3.34%, Realty up by 0.95%, FMCG up by 0.77% and Metal was up by 0.67%, while Power down by 0.53%, Utilities down by 0.46%, Consumer Durables down by 0.36%, Bankex down by 0.29% and PSU was down by 0.12% were the top losing indices on BSE.

The top gainers on the Sensex were TCS up by 4.62%, Tech Mahindra up by 4.43%, Infosys up by 4.08%, HCL Tech up by 3.86% and Wipro up by 2.45%. On the flip side, Power Grid down by 1.19%, Axis Bank down by 1.19%, Mahindra & Mahindra down by 1.04%, Titan Company down by 0.96% and Ultratech Cement down by 0.95% were the top losers.

Meanwhile, India’s inflation based on wholesale price index (WPI) deflated for the third straight month in June, on the back of fall in prices of mineral oils, non-food Articles, crude petroleum & natural gas and electricity. WPI inflation stood at (-) 4.12% for the month of June 2023 against (-) 3.48% recorded in May 2023.

The Component wise, primary articles index, having weight of 22.62%, increased 0.57% to 176.3 (provisional) in June 2023 from 175.3 (provisional) for the month of May 2023. Prices of Food Articles increased in June 2023 as compared to May 2023. Prices of Non-food Articles, Crude Petroleum and Natural Gas, and Minerals declined in June 2023 as compared to May 2023.

Fuel & Power index, having weight of 13.15%, declined 1.75% to 146.0 (provisional) in June 2023 from 148.6 (provisional) for the month of May 2023. Prices of Coal increased in June 2023 as compared to May 2023. Prices of Mineral Oils and Electricity declined in June 2023 as compared to May 2023.

Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, declined by 0.50% to 140.0 (provisional) in June 2023 from 140.7 (provisional) for the month of May 2023. Meanwhile, for the month of April, 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 151.1 and (-) 0.79% respectively.

The CNX Nifty is currently trading at 19502.20, up by 88.45 points or 0.46% after trading in a range of 19433.50 and 19520.55. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were TCS up by 4.24%, Tech Mahindra up by 4.06%, Infosys up by 3.88%, HCL Tech up by 3.63% and LTIMindtree up by 3.32%. On the flip side, HDFC Life Insurance down by 2.23%, Axis Bank down by 1.21%, Power Grid down by 1.13%, Titan Company down by 1.07% and Mahindra & Mahindra down by 0.98% were the top losers.

Asian markets were trading mostly in green, Taiwan Weighted added 222.31 points or 1.29% to 17,283.71, Hang Seng advanced 63.16 points or 0.33% to 19,413.78, Jakarta Composite gained 54.78 points or 0.8% to 6,864.99, KOSPI increased 37.07 points or 1.41% to 2,628.30, Straits Times rose 10.14 points or 0.31% to 3,248.60 and Shanghai Composite was up by 1.22 points or 0.04% to 3,237.70. On the flip side, Nikkei 225 was down by 28.07 points or 0.09% to 32,391.26.

European markets were trading mostly in green, UK’s FTSE 100 increased 12.74 points or 0.17% to 7,452.95 and France’s CAC was up by 26.65 points or 0.36% to 7,396.45. On the flip side, Germany’s DAX was down by 18.67 points or 0.12% to 16,122.36.