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Bourses continue to trade in green in late afternoon session
Sep-16-2024

Indian equity markets continued to trade in green in late afternoon session. Traders took note of report that Union Minister of Agriculture and Farmers Welfare and Rural Development Shri Shivraj Singh Chouhan said that the Prime Minister Shri Narendra Modi is farmer friendly and agriculture and farmers welfare is his top priority. Modi government has taken some big decisions in the interest of farmers. Farmer friendly Modi government has taken a decision to increase the import duty on edible oils from 0% to 20% and on adding other components, the total effective duty will be 27.5%. On the global front, Asian markets were trading in green as a slew of Chinese data disappointed and caution prevailed ahead of the Fed, BoJ and BoE policy meetings this week, with central banks in Japan and the U.K. both expected to stand pat on rates. European markets were trading mostly in red as a rising British pound weighed on export-oriented companies. 

The BSE Sensex is currently trading at 83,036.92, up by 145.98 points or 0.18% after trading in a range of 82,832.82 and 83184.34. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index declined 0.11%, while Small cap index was up by 0.22%.

The top gaining sectoral indices on the BSE were Power up by 1.98%, Metal up by 0.79%, Capital Goods up by 0.61%, Consumer Durables up by 0.57% and Banking was up by 0.50% while, FMCG down by 0.51%, Telecommunication down by 0.32%, IT down by 0.17% and Services was down by 0.17% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 2.24%, JSW Steel up by 2.06%, L&T up by 1.37%, Axis Bank 1.31% and ICICI Bank 0.79%, while Bajaj Finance down by 3.46%, HUL down by 2.31%, Bajaj Finserv down by 2.21%, Adani ports down by 0.62% and Titan company down by 0.60% were the top losers. 

Meanwhile, in line with the Government of India’s vision to transform India into a global leader in innovation and entrepreneurship, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, is set to launch a digital platform ‘BHASKAR’, aimed at strengthening India’s startup ecosystem. 

The Bharat Startup Knowledge Access Registry (BHASKAR) initiative, under the Startup India program, is a platform designed to centralize, streamline, and enhance collaboration among key stakeholders within the entrepreneurial ecosystem, including startups, investors, mentors, service providers, and government bodies.

India, home to over 1,46,000 DPIIT-recognized startups, has rapidly become one of the world’s most dynamic startup hubs. BHASKAR seeks to leverage this potential by providing an all-encompassing, one-stop digital platform that addresses the challenges faced by entrepreneurs and investors alike. By serving as a centralized registry, BHASKAR will enable seamless access to a wide array of resources, tools, and knowledge that will help fuel the entrepreneurial journey from ideation to execution.

BHASKAR is designed to foster a conducive environment for networking, collaboration, and growth within the startup ecosystem. By providing personalized BHASKAR IDs for each stakeholder, the platform will facilitate easier interaction, enhance searchability, and allow for efficient discovery of relevant opportunities and partnerships.

The CNX Nifty is currently trading at 25396.05, up by 39.55 points or 0.16% after trading in a range of 25336.20 and 25445.70. There were 27 stocks advancing against 23 stocks declining on the index.

The top gainers on Nifty were NTPC up by 2.02%, JSW Steel up by 2.02%, Shriram Finance up by 1.69%, Hindalco up by 1.63% and Larsen & Toubro up by 1.58%. On the flip side, Bajaj Finance down by 3.27%, Hindustan Unilever down by 2.23%, Bajaj Finserv down by 2.20%, SBI Life Insuran down by 1.57% and Britannia down by 1.27% were the top losers.

Asian markets were trading in green; Taiwan Weighted added 90.43 points or 0.41% to 21,850.08, Hang Seng advanced 53.03 points or 0.3% to 17,422.12 and Straits Times was up by 2.56 points or 0.07% to 3,565.21.

European markets were trading mostly in red; UK’s FTSE 100 decreased 3.16 points or 0.04% to 8,269.93 and Germany’s DAX was down by 50.68 points or 0.27% to 18,648.72. On the flip side, France’s CAC was up by 6.77 points or 0.09% to 7,472.02.
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