Markets enlarge gains in late afternoon session

The BSE Sensex is currently trading at 71880.94, up by 1180.27 points or 1.67% after trading in a range of 70880.54 and 71965.28. There were 25 stocks advancing against 5 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 1.48%, while Small cap index was up by 1.07%.

The top gaining sectoral indices on the BSE were Energy up by 4.99%, Oil & Gas up by 4.74%, Utilities up by 3.43%, PSU up by 3.06% and Power was up by 2.67%, while IT down by 0.26%, TECK down by 0.14% and FMCG was down by 0.02% were the few losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 6.80%, Tata Motors up by 3.46%, NTPC up by 3.02%, Kotak Mahindra Bank up by 2.92% and Larsen & Toubro up by 2.88%. On the flip side, Infosys down by 1.01%, ITC down by 0.87%, JSW Steel down by 0.53%, TCS down by 0.42% and Tech Mahindra down by 0.41% were the top losers.

Meanwhile, lauding the Pradhan Mantri Jan Dhan Yojana (PMJDY), Union Minister of Commerce & Industry, Piyush Goyal has said that it has played a pivotal role in empowering the entrepreneurs to be self-reliant and be a part of the country's growth story and also emphasized that the PMJDY has propelled the country from being part of a ‘fragile five’ to be the fifth largest economy in the world. 

The minister said that India has turned into an economy where interest rates and rising inflation have reigned in despite the turbulence caused in the developed nations. Further, expressing his confidence in the youth of the nation, Goyal said that a collective effort from youth, especially women, would make India a corrupt-free nation and would take India’s economy to thirty-five trillion dollars. 

Besides, the minister said that with the launch of ‘Lakhpati Didi Scheme’, India is poised to rapidly grow and the entrepreneurs and innovators will be at the forefront of that growth story. Goyal called upon startups and innovators to contribute to the innovation led growth story of India as ‘we march towards the 100th year of Independence in line with our resolve to become a developed nation by 2047.’ 

The CNX Nifty is currently trading at 21725.35, up by 372.75 points or 1.75% after trading in a range of 21429.60 and 21745.60. There were 40 stocks advancing against 10 stocks declining on the index.

The top gainers on Nifty were ONGC up by 8.12%, Reliance Industries up by 7.05%, Adani Enterprises up by 6.01%, Adani Ports up by 4.60% and Coal India up by 4.55%. On the flip side, Cipla down by 2.76%, LTIMindtree down by 0.99%, ITC down by 0.93%, Infosys down by 0.84% and Bajaj Auto down by 0.54% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 275.87 points or 0.77% to 36,026.94, Hang Seng advanced 125.01 points or 0.78% to 16,077.24, Taiwan Weighted added 124.6 points or 0.69% to 18,119.63 and KOSPI was up by 22.09 points or 0.88% to 2,500.65. On the flip side, Jakarta Composite plunged 4.92 points or 0.07% to 7,132.17, Straits Times fell 16.44 points or 0.52% to 3,143.09 and Shanghai Composite was up by 26.86 points or 0.93% to 2,883.36.

European markets were trading mostly in green; UK’s FTSE 100 increased 26.91 points or 0.35% to 7,662.00 and France’s CAC was up by 8.27 points or 0.11% to 7,642.41. On the flip side, Germany’s DAX was down by 58.58 points or 0.35% to 16,902.81.