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Mirroring their Asian peers, Indian equity markets were trading in fine fettle with Sensex and Nifty crossing 59900 and 17850 levels in the noon session due to heavy buying in consumer durables, auto and realty stocks. Gains in frontline blue chip stocks such as Indusind Bank, Bajaj Finance and Titan Co also helped lift the markets. Sentiments were upbeat with private survey report indicating that Indian consumers are concerned about rising costs but 71 per cent of them believe the economy will recover within a year. Foreign fund inflows also added to the momentum. Foreign institutional investors (FIIs) have net bought shares worth Rs 312.31 crore on September 19, as per provisional data available on the NSE. On the global front, all Asian markets were trading higher due to technical buying after heavy correction with the worries over global economic health ahead to the monetary policy decision by Federal Reserve on Wednesday. Back home, market breadth remained optimistic, as there were 2320 shares on the gaining side against 1050 shares on the losing side, while 136 shares remained unchanged.

The BSE Sensex is currently trading at 59964.29, up by 823.06 points or 1.39% after trading in a range of 59556.91 and 60009.48. There were 29 stocks advancing against 1 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 1.97%, while Small cap index was up by 1.46%.

The top gaining sectoral indices on the BSE were Consumer Durables up by 2.39%, Auto up by 2.12%, Realty up by 2.09%, Healthcare up by 1.88% and Metal up by 1.79%, while there were no losers.

The top gainers on the Sensex were Indusind Bank up by 2.85%, Bajaj Finance up by 2.63%, Titan Co up by 2.60%, Tata Steel up by 2.52% and Asian Paints was up by 2.35%. On the flip side, Nestle was down by 0.24% was the only losers.

Meanwhile, welcoming the National Logistics Policy launched by the government, the Federation of Indian Chambers of Commerce & Industry (FICCI) has said that the policy has the potential to significantly reduce costs, improve industry competitiveness, and along with Gati Shakti the resultant unified policy environment would substantially strengthen the logistics sector through optimum inter-ministry coordination and deployment of resources.

FICCI stated that combining the strengths of different modes of transport, adopting technology, and digitization will give a major fillip to the industry. The National Logistics Policy and the PM Gati Shakti would significantly help to reduce costs and augment competitiveness. The logistics policy is aimed at bringing down the logistic costs and improving the competitiveness of domestic goods in the global market.

It further said with PM Gati Shakti significantly boosting the pace of infrastructure development in the country, it is an opportune time for an integrated tech-enabled approach to logistic operations to bridge efficiency gaps and improve industry competitiveness. The focus on building an efficient multimodal transport mix, comprising 45 per cent of freight movement by road, 40 per cent by rail and 15 per cent through coastal shipping and inland waterways, in the National Logistics Policy is significant. It will reduce costs, but importantly, will help create jobs in the nascent opportunities like inland waterway.

The CNX Nifty is currently trading at 17877.35, up by 255.10 points or 1.45% after trading in a range of 17744.40 and 17890.55. There were 47 stocks advancing against 2 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were Apollo Hospital up by 3.43%, Hero MotoCorp up by 3.42%, Tata Motors up by 3.27%, Cipla up by 3.14% and Eicher Motors was up by 3.12%. On the flip side, Grasim Industries down by 0.46% and Nestle was down by 0.15% were the only losers.

All Asian markets are trading higher; Hang Seng increased 193.41 points or 1.04% to 18,759.38, Jakarta Composite soared 0.15 points to 7,195.64, Nikkei 225 surged 120.77 points or 0.44% to 27,688.42, Taiwan Weighted strengthened 123.62 points or 0.86% to 14,549.30, Straits Times advanced 14.50 points or 0.45% to 3,270.81, KOSPI rose 12.19 points or 0.52% to 2,367.85 and Shanghai Composite gained 3.67 points or 0.12% to 3,119.27.

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