Bourses trade in green in late afternoon session

In a volatile trading session, the Indian equity benchmarks traded in green during late afternoon session. Weakness in select banking counters forced the key gauges to trade with limited gains. However, the broader indices, the BSE Mid cap index and Small cap index continued to trade in red. Traders took a note of report that Finance Minister Nirmala Sitharaman met her Chinese counterpart Liu Kun and discussed various deliverables under G20 India Presidency, including strengthening Multilateral Development Banks and global debt vulnerabilities. Sector wise, jewellery sector remained in focused, as GJEPC Chairman Vipul Shah has said that India's gems and jewellery exports are likely to decline by 10 to 15 per cent in the current financial year on account of slowing demand in key markets like the US and China. 

On the global front, Asian markets were trading mostly in red, as traders seem cautious and reluctant to make significant moves amid data showing a slower than expected pace of economic growth in China in the second quarter, raising concerns about the outlook for global growth. European markets were trading higher as investors focused on earnings. 

The BSE Sensex is currently trading at 66718.69, up by 128.76 points or 0.19% after trading in a range of 66574.47 and 67007.02. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.46%, while Small cap index was down by 0.61%.

The top gaining sectoral indices on the BSE were IT up by 1.18%, TECK up by 1.11%, Power up by 0.42%, Capital Goods up by 0.21% and Utilities was up by 0.13%, while Metal down by 1.05%, Realty down by 1.00%, Telecom down by 0.83%, PSU down by 0.82% and Healthcare was down by 0.60% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 3.45%, Asian Paints up by 1.44%, HCL Tech up by 1.12%, Reliance Industries up by 0.69% and ICICI Bank up by 0.66%. On the flip side, SBI down by 1.69%, Bajaj Finance down by 1.63%, Titan Company down by 1.18%, Tata Motors down by 1.09% and Sun Pharma down by 1.03% were the top losers.

Meanwhile, Union Minister for Education & Skill development & Entrepreneurship Dharmendra Pradhan has said that India is home to world’s third largest startup ecosystem. He underlined that Young India’s innovation and creativity coupled with supportive government policies like the Digital India, Startup India are enabling the country’s youth to become job creators. 

The Minister shared his thoughts on how skill development, technology, digitisation, institutional lending, capacity development and branding can further give boost to entrepreneurship at the grassroots and create millions of nano entrepreneurs from the bottom-of-the-pyramid population.

While addressing Chintan Shivir organized by Ministry of Skill Development & Entrepreneurship in New Delhi, Union Minister also shared his thoughts on capitalising on skill development to spur entrepreneurship and how to reap the benefits of the new digital and creator economy.

The CNX Nifty is currently trading at 19725.45, up by 14.00 points or 0.07% after trading in a range of 19690.20 and 19819.45. There were 18 stocks advancing against 32 stocks declining on the index.

The top gainers on Nifty were Infosys up by 3.58%, Asian Paints up by 1.49%, HCL Tech up by 1.15%, Reliance Industries up by 0.70% and ICICI Bank up by 0.70%. On the flip side, LTIMindtree down by 2.49%, SBI down by 1.71%, Bajaj Finance down by 1.56%, HDFC Life Insurance down by 1.56% and Apollo Hospital down by 1.33% were the top losers.

Asian markets were trading mostly in red; Hang Seng declined 398.06 points or 2.09% to 19,015.72, Taiwan Weighted lost 106.38 points or 0.62% to 17,227.91, Jakarta Composite plunged 60.89 points or 0.89% to 6,806.25, Shanghai Composite weakened 11.81 points or 0.37% to 3,197.82, KOSPI dropped 11.38 points or 0.44% to 2,607.62 and Straits Times was down by 0.4 points or 0.01% to 3,254.03. On the flip side, Nikkei 225 was up by 102.63 points or 0.32% to 32,493.89.

European markets were trading higher; UK’s FTSE 100 increased 16.75 points or 0.23% to 7,423.17, France’s CAC rose 12.51 points or 0.17% to 7,304.17 and Germany’s DAX was up by 17.82 points or 0.11% to 16,086.47.