Bourses remain in green in late afternoon session

Indian equity markets continued to trade in green in late afternoon session. Investors were hoping that US Federal Reserve likely to cut interest rate. Traders continued to take support as inflation based on wholesale price index (WPI) in India slowed down in the month of August 2024 to 1.31% from 2.04% in July. Mineral oils prices also decreased in the reported month. The Component wise, primary articles index, having weight of 22.62%, declined 1.37% to 194.9 (provisional) in August 2024 from 197.6 (provisional) for the month of July 2024. On the global front, Asian markets were trading mostly in green as investors braced for the Federal Reserve's most anticipated meeting in years. European markets were trading higher ahead of the U.S. retail sales report due later in the day and the Federal Reserve's interest-rate decision on Wednesday.

The BSE Sensex is currently trading at 83104.63, up by 115.85 points or 0.14% after trading in a range of 82866.68 and 83152.41. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index gained 0.11%, while Small cap index was down by 0.07%.

The top gaining sectoral indices on the BSE were Telecom up by 0.85%, Utilities up by 0.68%, Consumer Durables up by 0.51%, TECK up by 0.47% and Oil & Gas was up by 0.41%, while PSU down by 0.36%, Industrials down by 0.35%, Capital Goods down by 0.31%, Metal down by 0.22% and Basic Materials was down by 0.03% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 1.80%, NTPC up by 1.59%, Titan Company up by 0.97%, Mahindra & Mahindra up by 0.95% and Kotak Mahindra Bank up by 0.81%. On the flip side, Tata Motors down by 2.02%, Adani Ports down by 0.80%, Asian Paints down by 0.69%, ITC down by 0.68% and Tata Steel down by 0.68% were the top losers.

Meanwhile, amid easing prices of crude petroleum, natural gas and food articles, inflation based on wholesale price index (WPI) in India slowed down in the month of August 2024 to 1.31% from 2.04% in July. Mineral oils prices also decreased in the reported month.

The Component wise, primary articles index, having weight of 22.62%, declined 1.37% to 194.9 (provisional) in August 2024 from 197.6 (provisional) for the month of July 2024. Fuel & Power index, having weight of 13.15%, increased by 0.14% to 148.1 (provisional) in August 2024 from 147.9 (provisional) for the month of July 2024, as price of electricity increased . However, the price of coal witnessed no change in August 2024 as compared to July.

Further, Manufactured Products constituting the major portion of the index with weight of 64.23%, declined by 0.07% to 141.6 (provisional) in August 2024 from 141.7 (provisional) for the month of July 2024, as there was a decrease in prices of chemicals and chemical products, textiles etc. Meanwhile, for the month of June 2024 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 154.0 and 3.43% respectively.

The CNX Nifty is currently trading at 25426.20, up by 42.45 points or 0.17% after trading in a range of 25352.25 and 25441.65. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Hero MotoCorp up by 2.94%, Bajaj Auto up by 2.02%, Bharti Airtel up by 1.76%, NTPC up by 1.57% and Cipla up by 1.32%. On the flip side, Tata Motors down by 2.02%, HDFC Life Insurance down by 1.19%, Eicher Motors down by 0.84%, Adani Ports down by 0.82% and Asian Paints down by 0.75% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 237.9 points or 1.35% to 17,660.02, Straits Times rose 23.5 points or 0.66% to 3,593.93 and Jakarta Composite was up by 20.59 points or 0.26% to 7,832.72. On the flip side, Nikkei 225 was down by 378.54 points or 1.05% to 36,203.22.

European markets were trading higher; UK’s FTSE 100 increased 63.47 points or 0.77% to 8,341.91, France’s CAC rose 43.79 points or 0.59% to 7,493.23 and Germany’s DAX was up by 80.47 points or 0.43% to 18,713.58.