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Markets trade in fine fettle in late afternoon session
Aug-10-2020

Indian equity markets were trading in fine fettle in late afternoon session on Monday. Meanwhile, the session was also positive for broader indices, which were trading with gains of over 1.30% each. The sentiments were supported by Niti Aayog CEO Amitabh Kant’s statement that India's FDI regime is the most liberal in the world, and even during the COVID-19 pandemic, the country has attracted over $22 billion worth of direct investments. On the sectoral front, traders were seen piling up position in Healthcare, Capital Goods, Realty, Industrials and Utilities, while selling was witnessed in Energy, Telecom, and Oil & Gas. Shares of defence equipment manufacturers and suppliers were trading higher on the BSE after the Ministry of Defence (MoD) announced a phased, year-wise embargo on the import of 101 items of defence equipment. On the global front, European markets were trading lower despite investors were hopeful of potential passage of a US stimulus bill.

Back home, the BSE Sensex is currently trading at 38244.12, up by 203.55 points or 0.54% after trading in a range of 38163.71 and 38430.69. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 1.31%, while Small cap index up by 1.41%.

The gaining sectoral indices on the BSE were Healthcare up by 4.60%, Capital Goods up by 3.55%, Realty up by 2.19%, Industrials up by 2.11%, Utilities up by 1.49% while, Energy down by 0.66%, Telecom down by 0.14%, Oil & Gas down by 0.02% were the losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 5.39%, Larsen & Toubro up by 5.06%, Sun Pharma up by 3.14%, NTPC up by 2.57% and Tech Mahindra up by 2.29%. On the flip side, Asian Paints down by 1.43%, Maruti Suzuki down by 1.13%, Bajaj Finserv down by 0.99%, Reliance Industries down by 0.85% and Bharti Airtel down by 0.84% were the top losers.

Meanwhile, in order to boost fertilizer sector towards servicing farmers, Union Minister of Chemicals and Fertilizers DV Sadananda Gowda has said that the government has taken various initiatives

Gowda also noted that with a view to disseminate knowledge on optimum usage of fertilizer nutrients to sustain the agriculture productivity and to make farmers aware of new developments in the field of fertilizer usage, Department of Fertilizers, Department of Agriculture Cooperation & Farmers Welfare and Department of Agricultural Research and Education jointly organized Fertilizer Application Awareness Programme for farmers.

Further highlighting the efforts taken by the government, Union Minister said that in order to encourage research and innovation in fertilizer and fertilizer technology, CPSEs under Department of Fertilizers formed a separate think tank body called “Indian Council for Fertilizers and Fertilizer Technology Research (ICFFTR)”.

The CNX Nifty is currently trading at 11283.10, up by 69.05 points or 0.62% after trading in a range of 11261.10 and 11337.30. There were 30 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Cipla up by 9.09%, Mahindra & Mahindra up by 5.47%, Larsen & Toubro up by 5.12%, Sun Pharma up by 3.18% and Tata Motors up by 3.06%. On the flip side, Eicher Motors down by 1.41%, Asian Paints down by 1.29%, BPCL down by 1.17%, Maruti Suzuki down by 1.04% and Bajaj Finserv down by 0.98% were the top losers.

European markets were trading lower; UK’s FTSE 100 decreased 1.03 points or 0.02% to 6,031.15, France’s CAC decreased 9.16 points or 0.19% to 4,880.36 and Germany’s DAX was down by 60.42 points or 0.48% to 12,614.09.

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