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Indian equity benchmarks continued to trade in fine fettle in afternoon deals as traders continue to get encouragement with regular foreign capital inflows on the back of strong global cues and domestic economic activity. Buying in realty and energy counters too helped markets to edge higher, though some selling was witnessed in oil & gas and power stocks. Market participants continued to cheer private report that the government's collections from levy of excise duty on petroleum products have jumped 48 per cent in the first four months of the current fiscal year, with the incremental mop-up being 3-times of the repayment liability of legacy oil bonds in the full fiscal.

On the global front, most of the Asian counters are trading in green at this point of time after weak U.S. hiring in August fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices. Back home, Indian Railway Catering and Tourism Corporation (IRCTC) entered the top 100 most valuable listed companies' club after the stock of the transport support services firm hit a new highs on September 6, 2021.

The BSE Sensex is currently trading at 58263.79, up by 133.84 points or 0.23% after trading in a range of 58200.29 and 58515.85. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.37%, while Small cap index was up by 0.60%.

The top gaining sectoral indices on the BSE were Realty up by 1.54%, Energy up by 1.18%, Consumer Durables up by 1.06%, Auto up by 0.69% and Industrials up by 0.65%, while Oil & Gas down by 0.44%, Power down by 0.33%, Metal down by 0.32%, Telecom down by 0.29% and PSU was down by 0.28% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 2.04%, HCL Tech up by 1.08%, Bajaj Auto up by 0.95%, Infosys up by 0.63% and Dr. Reddy's Lab up by 0.57%. On the flip side, Tata Steel down by 0.87%, Indusind Bank down by 0.80%, Asian Paints down by 0.77%, NTPC down by 0.68% and ICICI Bank down by 0.59% were the top losers.

Meanwhile, the government is likely to extend an incentive scheme 'the Indian Footwear Leather and Accessories Development Programme (IFLADP)' for leather and footwear industries till 2025-26, to further boost manufacturing, exports and job creation. The commerce and industry ministry has submitted a proposal for implementation of the IFLADP with an outlay of Rs 1,700 crore, to be incurred during 2021-22 to 2025-26, and the Union Cabinet may soon approve the same.

The programme has six components - Sustainable Technology and Environmental Promotion (proposed outlay Rs 500 crore); Integrated Development of Leather Sector (proposed outlay Rs 500 crore); Establishment of Institutional Facilities (Rs 200 crore); Mega Leather Footwear and Accessories Cluster Development (Rs 300 crore); Brand Promotion of Indian Brands in Leather and Footwear Sector (Rs 100 crore); and Development of Design Studios (Rs 100 crore). The expenditure finance committee has already approved the proposal of the ministry.

Under the 'Sustainable Technology and Environmental Promotion' component, assistance could be provided for setting up a common effluent treatment plant; and support could be extended for modernisation/capacity expansion/ technology up-gradation under the 'Integrated Development of Leather Sector' component. Similarly, under the 'Establishment of Institutional Facilities' component, support could be provided for setting up of new infrastructure and upgradation of requisite infra of the existing campuses of Footwear Design and Development Institute (FDDI).

The CNX Nifty is currently trading at 17361.80, up by 38.20 points or 0.22% after trading in a range of 17345.55 and 17429.55. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Reliance Industries up by 1.99%, Eicher Motors up by 1.57%, Wipro up by 1.40%, Cipla up by 1.28% and Grasim Industries up by 1.23%. On the flip side, ONGC down by 1.14%, Indian Oil Corp. down by 1.11%, JSW Steel down by 1.04%, Tata Steel down by 0.99% and Indusind Bank down by 0.94% were the top losers.

Asian markets are trading mostly in green, Nikkei 225 surged 531.78 points or 1.83% to 29,659.89, Hang Seng increased 256.86 points or 0.99% to 26,158.85, Straits Times advanced 12.05 points or 0.39% to 3,095.90, Shanghai Composite gained 40.93 points or 1.14% to 3,622.66, KOSPI rose 2.27 points or 0.07% to 3,203.33. On the flip side, Taiwan Weighted dropped 21.62 points or 0.12% to 17,495.30 and Jakarta Composite lost 2.25 points or 0.04% to 6,124.67.

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