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Local equity benchmarks erased all the losses to turn positive in noon session, both Sensex and Nifty were trading above 58400 and 17400 marks, respectively. Buying in frontline stocks such as Bharti Airtel, ITC and HDFC were aiding sentiment, while selling in Axis Bank, Infosys and Kotak Mahindra Bank kept the gains in the markets in check. Sentiments got boost with RBI’s data that sales of 1,647 listed private manufacturing companies recorded ‘extraordinarily high’ growth of 75 per cent in the first quarter of FY'22 mainly due to a very low base in the pandemic-hit year-ago period. Meanwhile, domestically, the biggest booster to investors’ wealth during the current rally since March 2020, as measured by the BSE’s market capitalisation, came from Reliance Industries that saw its market value jump by $134 billion to $210 billion now. The other significant wealth-creators are TCS, up $110 billion to $191 billion, and Infosys up $70 billion to $110 billion now.

On the global front; Asian markets were trading mixed amid continued spike in delta covid-19 cases. Moreover, profit booking after Monday’s sessional gain also weighed down investments in the region. Back home, BSE Sensex is currently trading at 58444.94, up by 148.03 points or 0.25% after trading in a range of 58005.07 and 58459.70. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index rose 0.03%, while Small cap index was down by 0.22%.

The top gaining sectoral indices on the BSE were Telecom up by 3.40%, Consumer Durables up by 1.04%, FMCG up by 0.76%, Energy up by 0.53% was Consumer Discretionary was up by 0.21%, while Realty down by 1.76%, Utilities down by 0.66%, IT down by 0.65%, Oil & Gas down by 0.60%, Power was down by 0.60% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 3.29%, ITC up by 1.62%, HDFC up by 1.62%, Indusind Bank up by 1.20% and Asian Paints was up by 1.18%. On the flip side, Axis Bank down by 1.29%, Infosys down by 0.95%, Kotak Mahindra Bank down by 0.95%, NTPC down by 0.60% and Tech Mahindra was down by 0.57% were the top losers.

Meanwhile, Federation of Automobile Dealers Associations (FADA) has said that retail sales of passenger vehicles (PV) in August increased by 39 per cent year-on-year to 2,53,363 units. PV sales stood at 1,82,651 units in August 2020.

Two-wheeler sales rose 7 per cent to 9,76,051 units last month, compared to 9,15,126 units in the year-ago period. Commercial vehicle sales surged 98 per cent to 53,150 units last month against 26,851 units in August last year.

Three-wheeler sales saw a rise of 80 per cent to 30,410 units last month from 16,923 units in the year-ago period. The total sales across categories increased by 14 per cent to 13,84,711 units in August as against 12,09,550 units in the same month last year.

The CNX Nifty is currently trading at 17410.00, up by 32.20 points or 0.19% after trading in a range of 17287.00 and 17425.15. There were 22 stocks advancing against 27 stocks declining, 1 stock remains unchanged on the index.

The top gainers on Nifty were Bharti Airtel up by 3.20%, HDFC up by 1.76%, ITC up by 1.55%, Indusind Bank up by 1.33% and Asian Paints was up by 1.17%. On the flip side, Axis Bank down by 1.22%, Infosys down by 0.99%, Kotak Mahindra Bank down by 0.95%, Tata Motors down by 0.91% and SBI Life Insurance was down by 0.90% were the top losers.

Asian markets were trading mixed; Hang Seng increased 0.95 points or 26207.22% to 249.77, Nikkei 225 surged 0.86 points or 29883.92% to 256.25, Shanghai Composite gained 1.57 points or 3621.71% to 56.92 and Straits Times was up by 0.11 points or 3093.89% to 3.42.

On the other hand; KOSPI fell 0.50 points or 3200.07% to 15.91, Taiwan Weighted dropped 0.38 points or 17534.38% to 66.43 and Jakarta Composite was down by 0.27 points or 6135.87% to 16.79.

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