Bourses remain in green in late afternoon session

In highly volatile trading session, Indian equity markets remained in green.  The broader indices, the BSE Mid cap index and Small cap index traded in green. Traders took note of report that External Affairs Minister S Jaishankar said India and Japan are natural partners in a world headed towards ''re-globalisation”, asserting that the two nations also share basic affinities, being democracies and market economies. Sector wise, textile sector remained in focus as the Union Minister for Textiles Piyush Goyal has said that ramping up textile production in the country will spur income, open up employment opportunities and play a vital role in making the country ‘Atmanirbhar’ as well.

On the global front, Asian markets were trading mixed with Japanese markets falling as the yen hit a one-month high against the dollar on growing speculation that the Bank of Japan could end negative interest rates this month. European markets were trading lower as investors turned cautious ahead of the European Central Bank's interest rate decision, while Virgin Money soared after Britain's Nationwide Building Society agreed to potentially buy the lender.

The BSE Sensex is currently trading at 74178.21, up by 92.22 points or 0.12% after trading in a range of 73921.48 and 74245.17. 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 0.60%, while Small cap index was up by 0.88%.

The top gaining sectoral indices on the BSE were Metal up by 1.78%, Basic Materials up by 1.34%, Capital Goods up by 1.33%, Telecom up by 1.24% and Industrials was up by 1.18%, while Oil & Gas down by 0.90%, Energy down by 0.83%, Bankex down by 0.24% and Auto was down by 0.21% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 4.59%, JSW Steel up by 2.34%, Bajaj Finserv up by 2.13%, Tata Motors up by 2.00% and Bajaj Finance up by 1.91%. On the flip side, Mahindra & Mahindra down by 3.59%, Reliance Industries down by 1.20%, Axis Bank down by 1.15%, ICICI Bank down by 0.83% and Maruti Suzuki down by 0.70% were the top losers.

Meanwhile, urging textile beneficiaries to be vocal for local and take local to global, the Union Minister for Textiles Piyush Goyal has said that ramping up textile production in the country will spur income, open up employment opportunities and play a vital role in making the country ‘Atmanirbhar’ as well. 

The Textiles Minister also urged the artisans to register their businesses on the Government e-Marketplace (GeM). He said that he has instructed GeM to register all artisans and weavers connected with handicraft and handloom without any registration fee. Besides, Goyal said registering on the e-marketplace will boost the visibility of artisans and help promote businesses enhancing their income. 

He further said that the government would try to facilitate the GeM-registered businesses to be on-boarded on major e-commerce websites in the country and push for registering their businesses on foreign websites prioritising handicraft and handloom. He noted that the support of the officials to the handicraft and handloom businesses, especially small enterprises, would help them create an identity through their craft on the GeM website.

Goyal also urged the textile sector to collectively work towards technological innovation that would ease the lives of the artisans and weavers and provide an impetus to their income. He thanked the beneficiaries for safeguarding the cultural heritage of the nation and hailed women’s contribution in the textile sector.

The CNX Nifty is currently trading at 22511.65, up by 37.60 points or 0.17% after trading in a range of 22430.00 and 22525.65. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Tata Steel up by 4.52%, Bajaj Auto up by 3.16%, Tata Consumer up by 2.95%, JSW Steel up by 2.25% and Hindalco up by 2.20%. On the flip side, Mahindra & Mahindra down by 3.69%, BPCL down by 1.77%, Reliance Industries down by 1.22%, Axis Bank down by 1.10% and LTIMindtree down by 0.96% were the top losers.

Asian markets were trading mixed; Nikkei 225 slipped 492.07 points or 1.24% to 39,598.71, Hang Seng declined 208.31 points or 1.28% to 16,229.78, Shanghai Composite weakened 12.53 points or 0.41% to 3,027.40 and Straits Times was down by 2.13 points or 0.07% to 3,134.01. On the flip side, KOSPI increased 6.13 points or 0.23% to 2,647.62, Jakarta Composite gained 50.53 points or 0.69% to 7,380.33 and Taiwan Weighted was up by 194.07 points or 0.99% to 19,693.52.

European markets were trading lower; UK’s FTSE 100 decreased 25.8 points or 0.34% to 7,653.51, France’s CAC fell 23.96 points or 0.3% to 7,930.78 and Germany’s DAX was down by 63.65 points or 0.36% to 17,653.06.