Benchmarks near day’s high; auto stocks decline for sixth day

The key equity indices were currently trading near the day’s high in mid afternoon trade. The Nifty was trading above the 16,500 mark. Autos extended losses for the sixth consecutive session. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 260.93 points or 0.47% to […]


The key equity indices were currently trading near the day’s high in mid afternoon trade. The Nifty was trading above the 16,500 mark. Autos extended losses for the sixth consecutive session.

At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 260.93 points or 0.47% to 55,590.25. The Nifty 50 index gained 68.35 points or 0.42% to 16,518.85.





The broader indices tumbled. The S&P BSE Mid-Cap index fell 0.52%. The S&P BSE Small-Cap index lost 1.08%.

Sellers outnumbered buyers. On the BSE, 797 shares rose and 2409 shares fell. A total of 142 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 21,18,44,766 with 44,31,554 deaths. India reported 3,33,924 active cases of COVID-19 infection and 4,34,756 deaths while 3,16,80,626 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Economy:

Union Minister for Finance & Corporate Affairs Nirmala Sitharaman, will launch the National Monetisation Pipeline on Monday (23 August) at New Delhi. The National Monetisation Pipeline (NMP) comprises a four-year pipeline of the Central Government’s brownfield infrastructure assets. Besides providing visibility to investors, NMP will also serve as a medium-term roadmap for the Asset Monetisation initiative of the Government. The Union Budget 2021-22 laid a lot of emphasis on Asset Monetisation as a means to raise innovative and alternative financing for infrastructure, and included a number of key announcements.

Meanwhile, Union Minister of State for Railways Raosaheb Danve said that railway has suffered a loss of Rs 36,000 crore due to the corona pandemic. Railway is facing a 48% loss in passenger service. He was speaking in an event organised at Jalna Railway station in Maharashtra. Danve said, Mumbai-Nagpur High Speed train project is an ambitious project of the railway ministry and it is on priority list. Doubling of tracks between Manmad and Nanded will also be completed on priority basis. But other railway projects will be done after checking the feasibility of the project.

Buzzing Index:

The Nifty Auto index shed 0.78% to 9,827.35. The index has declined 3.47% in six sessions. In the past three months, the index fallen 4.73% while the benchmark Nifty has advanced 8.68% during the same period.

Bharat Forge (down 2.39%), Eicher Motors (down 1.73%), Mahindra & Mahindra (down 1.37%), Tata Motors (down 1.25%), Bajaj Auto (down 0.83%), TVS Motor Company (down 0.88%), Ashok Leyland (down 0.17%) and Hero MotoCorp (down 0.16%) declined.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee rose to 74.25 from its previous closing of 74.395.

MCX Gold futures for 5 October 2021 settlement rose 0.08% to Rs 47,196.

The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, was down 0.29% to 93.22.

In the commodities market, Brent crude for October 2021 settlement added $1.96 or 3.01% to $67.14 a barrel.

The yield on 10-year benchmark federal paper rose to 6.241% from its previous close of 6.234%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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