Bourses continue to trade in green in late afternoon session

The Indian benchmarks continued to trade in green in late afternoon session on account of buying in front line counters. The broader indices, the BSE Mid cap index and Small cap index traded with gains in the range of 0.60-1.15%. IT and Metal counters were on the priority list of the buyers. Traders continued to take support after private report stated that the country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption. Meanwhile, Finance minister Nirmala Sitharaman said that the focus of the government is on four ‘I’s -- infrastructure, investment, innovation and inclusiveness -- as it strives to make India a developed nation by 2047, the 100th year of independence.

On the global front, Asian markets were trading mostly in green as weak Chinese data spurred hopes of more policy stimulus and the Bank of Japan stepped into the bond market to influence rates. European markets were trading mostly in green amid the European economy grew modestly in the most recent quarter, breaking out of a months of stagnation or contraction as higher interest rates designed to fight inflation make it more expensive for households and businesses to borrow, invest and spend. 

The BSE Sensex is currently trading at 66388.23, up by 228.03 points or 0.34% after trading in a range of 65998.90 and 66449.11. 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 0.61%, while Small cap index was up by 1.13%.

The top gaining sectoral indices on the BSE were Utilities up by 2.13%, Power up by 2.04%, Metal up by 1.52%, PSU up by 1.41% and Industrials was up by 1.13%, while FMCG down by 0.56% and Healthcare was down by 0.17% were the few losing indices on BSE.

The top gainers on the Sensex were NTPC up by 3.45%, Power Grid up by 2.54%, Tata Steel up by 2.03%, TCS up by 1.82% and Tech Mahindra up by 1.59%. On the flip side, Kotak Mahindra Bank down by 1.17%, Bajaj Finance down by 1.13%, Hindustan Unilever down by 1.05%, Asian Paints down by 1.02% and Bharti Airtel down by 0.91% were the top losers.

Meanwhile, emphasizing India’s role in critical and emerging technologies and importance of Nation’s growth in the electronics sector, particularly semiconductors, External Affairs Minister Dr S Jaishankar has stressed on India’s growing presence as a trusted global electronics manufacturing partner. 

He said in this regard, the international collaborations with the US, Japan & Australia and upcoming opportunities with other like-minded countries hold significant importance, while addressing the last day of the three-day SemiconIndia 2023. The final day of the three-day SemiconIndia 2023 Conference attracted diverse participation ranging from industry, start-ups, academia and government. 

The insightful sessions and engaging talks showcased the importance of critical aspects pertaining to semiconductor manufacturing and steps being taken to ensure the development of a robust, resilient and sustainable semiconductor ecosystem.

The CNX Nifty is currently trading at 19719.05, up by 73.00 points or 0.37% after trading in a range of 19597.60 and 19727.10. There were 35 stocks advancing against 15 stocks declining on the index.

The top gainers on Nifty were NTPC up by 3.52%, Adani Ports up by 2.61%, Power Grid up by 2.59%, ONGC up by 2.39% and Hindalco up by 2.12%. On the flip side, Apollo Hospital down by 2.77%, Britannia down by 2.34%, HDFC Life Insurance down by 2.02%, Divi's Lab down by 1.98% and Kotak Mahindra Bank down by 1.24% were the top losers.

Asian markets were trading mostly in green, Nikkei 225 surged 412.99 points or 1.24% to 33,172.22, Hang Seng advanced 162.38 points or 0.81% to 20,078.94, KOSPI increased 24.26 points or 0.92% to 2,632.58 and Jakarta Composite gained 16.45 points or 0.24% to 6,916.68, Shanghai Composite strengthened 15.11 points or 0.46% to 3,291.04 and Straits Times was up by 4.87 points or 0.14% to 3,376.04. On the flip side, Taiwan Weighted was down by 147.5 points or 0.86% to 17,145.43.

European markets were trading mostly in green, France’s CAC rose 15.15 points or 0.2% to 7,491.62 and Germany’s DAX was up by 10.67 points or 0.06% to 16,480.42. On the flip side, UK’s FTSE 100 was down by 11.33 points or 0.15% to 7,682.94.