Markets retain gains supported by power, utilities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/08/3b22edb723484f1054e4e898fd99fc5f.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Markets are retaining their gains in the noon trade, following gains in power, utilities and FMCG stocks. Healthy buying was observed in blue-chip stocks like Ultratech Cement, Bajaj Finserv and Bajaj Finance. Sentiments were upbeat RBI’s article states that the economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions. Traders also remain energized with Federation of Indian Export Organisations (FIEO) President A Sakthivel’s statement that the announcement of Remission of Duties and Taxes on Exported Products (RoDTEP) rates will help in easing liquidity and enhance the competitiveness of domestic exporters over a long-time horizon. On the global front; all Asian markets were trading firm as investors assessed the economic recovery and risks from the resurgent coronavirus.
Back home, BSE Sensex is currently trading at 55959.97, up by 167.70 points or 0.30% after trading in a range of 55891.89 and 56118.57. There were 19 stocks advancing against 11 stocks declining on the index.
The broader indices were trading in green; the BSE Mid cap index rose 0.44%, while Small cap index was up by 0.02%.
The top gaining sectoral indices on the BSE were Power up by 0.85%, Utilities up by 0.85%, FMCG up by 0.54%, Oil & Gas up by 0.53% and PSU was up by 0.40%, while Metal down by 0.67%, Realty down by 0.28% and Consumer Durables was down by 0.26% were the few losing indices on BSE.
The top gainers on the Sensex were Ultratech Cement up by 3.73%, Bajaj Finserv up by 3.13%, Bajaj Finance up by 3.08%, NTPC up by 1.07% and HDFC Bank was up by 0.98%. On the flip side, Kotak Mahindra Bank down by 1.17%, HDFC down by 0.52%, Titan Company down by 0.52%, ICICI Bank down by 0.50% and Tech Mahindra was down by 0.30% were the top losers.
Meanwhile, Retailers Association of India (RAI) in its Retail Business Survey for the month has said that retail sales across India continued to recover in July 2021, reaching 72 percent of the pre-pandemic levels of July 2019. It said that the rate of recovery was 50 percent of pre-pandemic levels in June 2021. It also said the retailers across the country are now pinning their hopes on the festive season for a significant sales recovery.
According to the retailer's body, RAI retail businesses in south India have indicated a very sharp comeback in July 2021 with sales at 82 per cent of the pre-pandemic levels (July 2019), as against 50 per cent sales in June 2021. However, west India is yet to improve, registering sales at 57 per cent of pre-pandemic levels (July 2019). This is mainly because of prolonged curbs in Maharashtra that disrupted the smooth functioning of modern retail in the state. In terms of categories, quick service restaurants (QSR) recovered the best in July 2021 with sales at 97 per cent of the pre-pandemic levels (July 2019). Yet, in July 2021, beauty and wellness, which includes salons, is still at 50 per cent of pre-pandemic sales, while apparel is at 63 per cent sales of the pre-pandemic levels.
Commenting on the outlook of the Retail industry in India, RAI said there is a possibility of significant sales recovery for retail businesses as the festive season approaches, provided restrictions on modern retail are relaxed across the country allowing smooth operations and return to normalcy. It said opening up of retail will give businesses a chance at recovery, saving the livelihood of millions who are dependent on the retail ecosystem.
The CNX Nifty is currently trading at 16660.55, up by 45.95 points or 0.28% after trading in a range of 16634.70 and 16701.85. There were 30 stocks advancing against 20 stocks declining on the index.
The top gainers on Nifty were Ultratech Cement up by 3.76%, Bajaj Finserv up by 3.26%, Bajaj Finance up by 2.96%, Eicher Motors up by 2.35% and Divi's Lab was up by 1.17%. On the flip side, Hindalco down by 1.81%, Kotak Mahindra Bank down by 1.15%, Tata Motors down by 0.86%, JSW Steel down by 0.65% and ICICI Bank was down by 0.47% were the top losers.
All Asian markets were trading firm; Taiwan Weighted strengthened 164.91 points or 0.99% to 16,826.27, KOSPI rose 15.84 points or 0.5% to 3,158.93, Shanghai Composite gained 26.08 points or 0.76% to 3,473.06, Hang Seng increased 155.84 points or 0.61% to 25,901.71, Nikkei 225 surged 161.44 points or 0.59% to 27,585.91, Straits Times advanced 22.59 points or 0.72% to 3,141.10 and Jakarta Composite was up by 44.13 points or 0.72% to 6,132.04.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Gold Jewellery.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mutual Fund 21.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Utkarsh Small Finance Bank.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/real estate sector_856.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Home Finance_12.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/coocker57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IDBI Bank 1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/UPI Auto Pay.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee_040124.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/apple57.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
![Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/009b2b15289ce4f7e143526434c946d5.jpg)