Markets add losses in late afternoon session

The broader indices were trading in red; the BSE Mid cap index declined 0.23%, while Small cap index was down by 0.05%.

The top gaining sectoral indices on the BSE were Healthcare up by 0.74%, Capital Goods up by 0.53%, Industrials up by 0.39%, Energy up by 0.22% and Telecom was up by 0.21%, while Utilities down by 1.96%, Consumer Durables down by 1.67%, Power down by 1.48%, Metal down by 0.97% and Bankex was down by 0.70% were the top losing indices on BSE.

The top gainers on the Sensex were Sun Pharma up by 2.89%, Tech Mahindra up by 2.29%, Tata Motors up by 1.01%, Axis Bank up by 0.96% and Mahindra & Mahindra up by 0.95%. On the flip side, HDFC Bank down by 3.68%, NTPC down by 3.52%, Asian Paints down by 2.53%, Indusind Bank down by 2.11% and Power Grid down by 1.90% were the top losers.

Meanwhile, in an effort towards the benefit of farmers and to increase overall productivity, the Ministry of Agriculture & Farmers Welfare, Government of India, is leveraging cutting-edge Artificial Intelligence (AI) technologies. As a pioneering force in the integration of AI, the Ministry is setting a precedent for leveraging advanced technologies to address the challenges faced by the farmers in India. It is championing the India Digital Ecosystem Architecture (InDEA) 2.0's network approach, designed by the Ministry of Electronics & IT (MeitY), Government of India.

To further leverage artificial intelligence in the agriculture sector, on January 17, 2024, a tripartite memorandum of understanding (MoU) was signed between the National Farmers’ Welfare Programme Implementation Society, IndiaAI under Digital India Corporation, and Wadhwani Foundation. As per the MoU, Wadhwani Foundation will provide critical support in formulating and executing an AI strategy. 

The Foundation commits to assisting the Ministry in establishing India as a global leader in AI-driven digital agriculture transformation, aligning with the MeitY’s National Plan for AI. This collaboration marks a pivotal moment in India's agricultural landscape, where Ministry has institutionalized the use of AI in transforming digital agriculture through the creation of an AI cell within the Ministry.

The CNX Nifty is currently trading at 21444.30, down by 127.65 points or 0.59% after trading in a range of 21285.55 and 21539.40. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Sun Pharma up by 2.99%, Tech Mahindra up by 2.20%, Cipla up by 2.04%, Apollo Hospital up by 1.56% and Mahindra & Mahindra up by 1.17%. On the flip side, LTIMindtree down by 10.67%, HDFC Bank down by 3.64%, NTPC down by 3.59%, Asian Paints down by 2.48% and Indusind Bank down by 2.14% were the top losers.

Asian markets were trading mostly in green; Taiwan Weighted added 66 points or 0.38% to 17,227.79, Jakarta Composite gained 42.53 points or 0.59% to 7,243.17, Hang Seng advanced 114.89 points or 0.75% to 15,391.79, Shanghai Composite strengthened 12.16 points or 0.43% to 2,845.78 and KOSPI was up by 4.14 points or 0.17% to 2,440.04. On the flip side, Straits Times fell 4.5 points or 0.14% to 3,137.72 and Nikkei 225 was down by 11.58 points or 0.03% to 35,466.17.

European markets were trading mostly in green; France’s CAC rose 20.27 points or 0.28% to 7,338.96 and Germany’s DAX was up by 21.92 points or 0.13% to 16,453.61. On the flip side, UK’s FTSE 100 was down by 6.02 points or 0.08% to 7,440.27.