In a volatile trading session, Indian equity markets managed to keep their heads above water during early noon deals, with both Sensex and Nifty trading marginally higher, supported by buying at Power and Utilities counters tracking positive cues from other Asian markets. Sentiments were upbeat as India and the US have firmed up a key framework for cooperation in ensuring steady supplies of critical minerals. Further, showcasing sustained demand for rupee liquidity amid changing market landscapes, the Reserve Bank of India (RBI) has received robust response for its USD/INR Buy/Sell swap auction with nearly twice subscriptions than the notified amount of $5 billion. On the global front, Asian markets were trading mostly in green, as Singapore's industrial production expanded at the quickest pace in six months in April. Industrial production advanced 17.6 percent year-on-year in April, much faster than the revised 9.2 percent rise in March. The expected increase was 12.0 percent.
The BSE Sensex is currently trading at 76035.12, up by 25.42 points or 0.03% after trading in a range of 75797.01 and 76224.68. There were 23 stocks advancing against 7 stocks declining on the index.
The top gaining sectoral indices on the BSE were Power up by 2.48%, Utilities up by 2.28%, Metal up by 1.78%, Capital Goods up by 1.66% and Telecom up by 1.26%, while Energy down by 0.60%, Oil & Gas down by 0.29%, IT down by 0.18%, FMCG down by 0.13% and Bankex down by 0.12% were the top losing indices on BSE.
The top gainers on the Sensex were Power Grid up by 2.27%, Tata Steel up by 2.14%, NTPC up by 1.98%, Eternal up by 1.50% and Interglobe Aviation up by 1.44%. On the flip side, ITC down by 3.21%, HDFC Bank down by 2.16%, Hindustan Unilever down by 0.75%, Infosys down by 0.45% and Bharat Electronics down by 0.25% were the top losers.
Meanwhile, in an efforts to build a resilient, trusted, and sustainable semiconductor ecosystem in India, the government has launched an online portal titled ‘Investors Support’ under India Semiconductor Mission (ISM) to boost investors’ confidence and to address their concerns. The portal has been developed to provide information relating to Government schemes, policies, approved projects under Semicon India Programme, regulatory requirements, etc. to those investors who are considering investment in India. The portal will also provide a secure, role-based, single-window digital interface to Relevant stakeholders for streamlined coordination and time-bound resolution of concerns.
Besides, CEO of India Semiconductor Mission Amitesh Kumar Sinha has emphasized the importance of handholding and facilitation of foreign investors and urged upon representatives of all concerned stakeholders to proactively discharge their respective roles in addressing concerns of the investors for further strengthening the semiconductor manufacturing and design ecosystem in the country.
Under the Semicon India Programme, so far, 12 Fab/Packaging projects have been approved along with 24 semiconductors design projects. The Central Government had launched the SEMICON India Programme with an investment of Rs 76,000 crore, implemented through the ISM.
The CNX Nifty is currently trading at 23936.10, up by 22.40 points or 0.09% after trading in a range of 23868.50 and 23983.20. There were 35 stocks advancing against 15 stocks declining on the index.
The top gainers on Nifty were Hindalco up by 3.69%, Power Grid up by 2.32%, Tata Steel up by 2.07%, Bajaj Auto up by 1.94% and NTPC up by 1.83%. On the flip side, ONGC down by 3.72%, ITC down by 3.22%, Coal India down by 2.80%, HDFC Bank down by 2.14% and SBI Life Insurance down by 1.02% were the top losers.
Asian markets were trading mostly in green; KOSPI increased 181.19 points or 2.2% to 8,228.70, Taiwan Weighted added 731.43 points or 1.65% to 44,256.80, and Shanghai Composite weakened 51.64 points or 1.26% to 4,093.73, while Hang Seng declined 267.45 points or 1.06% to 25,332.00 and Nikkei 225 surged 337.91 points or 0.52% to 65,334.00.
