Bourses trade in red in late afternoon session

In volatile trading session, Indian equity markets continued to trade in red in late afternoon session following weak cues from European markets.  Investors overlooked private report that Union ministry of finance said the number of e-way bills generated in the last financial year had recorded a 16 percent growth over FY23, indicating a robust economic growth. On the global front, Asian markets were trading mixed following the broadly positive cues from global markets overnight, as traders seemed reluctant to make significant moves ahead of key US employment data later in the week, which is expected to show a slowdown in the pace of job growth in June, could impact the outlook for interest rates. European markets were trading lower as a relief rally following the first round of French parliamentary elections proved to be short-lived, while investors awaited inflation data for hints on the euro zone's interest rate path.

The BSE Sensex is currently trading at 79403.87, down by 72.32 points or 0.09% after trading in a range of 79231.11 and 79855.87. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index declined 0.61%, while Small cap index was up by 0.13%.

The top gaining sectoral indices on the BSE were IT up by 0.96%, Realty up by 0.81%, TECK up by 0.42%, Industrials up by 0.33% and Oil & Gas was up by 0.31%, while Telecom down by 0.95%, Bankex down by 0.85%, FMCG down by 0.79%, PSU down by 0.61% and Power was down by 0.61% were the top losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 2.47%, Infosys up by 1.91%, HDFC Bank up by 1.01%, HCL Tech up by 0.88% and Power Grid up by 0.68%. On the flip side, Kotak Mahindra Bank down by 2.28%, Bharti Airtel down by 1.83%, Tata Motors down by 1.79%, Indusind Bank down by 1.69% and ICICI Bank down by 1.63% were the top losers.

Meanwhile, the gross Goods and Services Tax (GST) collection surged 8 per cent to Rs 1.74 lakh crore in June 2024 as compared to Rs 1.61 lakh crore mopped up in June 2023, reflecting a buoyant economy, with businesses demonstrating commendable self-compliance.

Further, the collection in June 2024 was also higher than the Rs 1.73 lakh crore collected in May 2024. The Integrated GST (IGST) worth Rs 39,586 crore was settled towards Central GST (CGST) and Rs 33,548 crore towards State GST (SGST).

Besides, the gross GST collection so far this fiscal (April-June) stood at Rs 5.57 lakh crore. The gross GST collection hit a record high in April 2024 at Rs 2.10 lakh crore, representing a significant 12.4 per cent year-on-year growth, driven by a strong increase in domestic transactions and imports.

The CNX Nifty is currently trading at 24112.25, down by 29.70 points or 0.12% after trading in a range of 24056.40 and 24236.35. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 2.52%, Wipro up by 2.08%, Infosys up by 1.83%, HDFC Bank up by 0.96% and HCL Tech up by 0.83%. On the flip side, Shriram Finance down by 3.39%, Kotak Mahindra Bank down by 2.24%, Tata Motors down by 1.82%, Indusind Bank down by 1.73% and Bharti Airtel down by 1.72% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 443.63 points or 1.12% to 40,074.69, Hang Seng advanced 50.53 points or 0.29% to 17,769.14, Straits Times rose 28.17 points or 0.84% to 3,366.74, Shanghai Composite strengthened 2.28 points or 0.08% to 2,997.01. On the flip side, Jakarta Composite plunged 16.18 points or 0.23% to 7,123.45, KOSPI dropped 23.45 points or 0.84% to 2,780.86 and Taiwan Weighted was down by 179.2 points or 0.78% to 22,879.37.

European markets were trading lower; UK’s FTSE 100 decreased 27.28 points or 0.34% to 8,139.48, France’s CAC fell 44.79 points or 0.6% to 7,516.34 and Germany’s DAX was down by 137.6 points or 0.76% to 18,153.06.