Bourses enlarge gains in late afternoon session

Indian equity markets enlarged their gains in late afternoon session on account of buying in front line counters. Investors were eyeing on Imports and exports data, which slated to be released later in a day. Traders took note of World Economic Forum's latest 'Chief Economists Outlook' report,  which said most economists expect the global economy to weaken in the coming year amid political and financial volatility, but a large majority of over 90 per cent are confident of moderate or strong growth in South Asia, notably India. At the same time, the outlook for China has dimmed following signs of deflationary pressures and fragility in the country's real estate market. 

On the global front, Asian markets were trading mostly in green as investors cheered strong economic data from the U.S. and China as well as signs that the world's biggest central banks may soon end their tightening campaigns. European markets were trading higher after the European Central Bank signalled that Thursday's rate hike could be the last hike in the current cycle. Improved retail sales and industrial production data from China also boosted sentiment.

The BSE Sensex is currently trading at 67814.56, up by 295.56 points or 0.44% after trading in a range of 67614.42 and 67843.29. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.14%, while Small cap index was up by 0.28%.

The top gaining sectoral indices on the BSE were Telecom up by 1.60%, Auto up by 1.50%, TECK up by 0.80%, IT up by 0.67% and Bankex was up by 0.43%, while Oil & Gas down by 0.98%, Realty down by 0.81%, Energy down by 0.44%, FMCG down by 0.39% and PSU was down by 0.23% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 2.50%, Tata Motors up by 1.62%, HCL Tech up by 1.51%, Wipro up by 1.08% and Bharti Airtel up by 0.96%. On the flip side, Hindustan Unilever down by 1.24%, Asian Paints down by 1.22%, Tata Steel down by 0.46%, NTPC down by 0.36% and JSW Steel down by 0.25% were the top losers.

Meanwhile, the Directorate General of Civil Aviation (DGCA) in its latest report has showed that the domestic air passenger traffic surged 22.81 per cent to 1.24 crore in August 2023 as against 1.01 crore in the year-ago period. The overall cancellation rate of scheduled domestic airlines for the month of August 2023 has been 0.65%.

During August 2023, a total of 288 passenger related complaints had been received by the scheduled domestic airlines. The number of complaints per 10,000 passengers carried for the month of August 2023 has been around 0.23.

According to the data, with 89 per cent of its flights arriving and departing as per schedule to and from four key airports -- Delhi, Mumbai, Hyderabad and Bengaluru -- IndiGo had the highest on-time performance during the August month, followed by Air Asia (87.1%), Vistara (83.4%) and Akasa Air (81.4).

The CNX Nifty is currently trading at 20185.25, up by 82.15 points or 0.41% after trading in a range of 20129.70 and 20196.45. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Bajaj Auto up by 5.38%, Mahindra & Mahindra up by 2.40%, Hero MotoCorp up by 2.36%, Grasim Industries up by 2.35% and HCL Tech up by 1.52%. On the flip side, BPCL down by 1.74%, Hindustan Unilever down by 1.29%, Asian Paints down by 1.27%, Britannia down by 0.98% and ONGC down by 0.98% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 364.99 points or 1.09% to 33,533.09, Hang Seng advanced 134.97 points or 0.74% to 18,182.89, Taiwan Weighted added 113.36 points or 0.67% to 16,920.92, Straits Times rose 36.07 points or 1.1% to 3,285.58, Jakarta Composite gained 29.16 points or 0.42% to 6,988.49 and KOSPI was up by 28.39 points or 1.09% to 2,601.28. On the flip side, Shanghai Composite was down by 8.81 points or 0.28% to 3,117.74.

European markets were trading higher; UK’s FTSE 100 increased 53.72 points or 0.7% to 7,726.80, France’s CAC rose 100.75 points or 1.36% to 7,409.42 and Germany’s DAX was up by 160.4 points or 1% to 15,965.69.