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Bourses add more points in late afternoon session
Apr-16-2021

The Indian benchmarks added more points in the late afternoon session, with the Sensex and the Nifty gaining above 240 and 100 points, respectively. Asian Paints, Mahindra & Mahindra and Power Grid were the prime gainers among heavy-weights. Traders remain energized, as Union minister Nitin Gadkari has said that India tackled the first wave of the pandemic with great resilience and came out with strong growth projections. He expressed confidence that the MSME sector will battle the second wave with same conviction and lead India to a growth trajectory. Sector wise, travel industry remained in focus, as Ministry of Tourism has signed a Memorandum of Understanding (MoU) with online travel companies -- Cleartrip and Ease My Trip. On the global front, all Asian markets were trading higher as record Chinese economic growth reaffirmed the country’s strong recovery, while traders also tracked a Wall Street surge that was fuelled by blockbuster reports on US consumer spending and jobless claims. European markets were trading higher after strong U.S. and China data spurred optimism about a speedy global recovery, while strong results from Germany’s Daimler boosted carmakers.

The BSE Sensex is currently trading at 49049.22, up by 245.54 points or 0.50% after trading in a range of 48694.49 and 49068.90. There were 22 stocks advancing against 8 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 1.39%, while Small cap index was up by 1.22%.

The top gaining sectoral indices on the BSE were Healthcare up by 1.88%, Auto up by 1.75%, Utilities up by 1.75%, Power up by 1.74% and Basic Materials was up by 1.57%, while Bankex down by 0.40% were the only losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 3.89%, Mahindra & Mahindra up by 3.64%, Power Grid up by 2.57%, Ultratech Cement up by 2.43% and HCL Tech up by 2.17%. On the flip side, ICICI Bank down by 1.04%, SBI down by 0.80%, Bajaj Finance down by 0.73%, TCS down by 0.53% and Reliance Industries down by 0.37% were the top losers.

Meanwhile, with an aim to strengthen the Hospitality & Tourism Industry especially in the times of the pandemic, the Ministry of Tourism has signed a Memorandum of Understanding (MoU) with online travel companies -- Cleartrip and Ease My Trip.

The primary objective of this MoU is to provide extensive visibility to accommodation units which have self-certified themselves on SAATHI (System for Assessment, Awareness & Training for the Hospitality Industry) on the OTA platform. The MoU also outlines both parties to encourage Units to register on NIDHI and thereby on SAATHI and encourage local tourism Industry with appropriate safeguards for curbing spread of COVID-19.

The move is also to gather more information on accommodation units in order to gain actionable insights & designing evidence based & targeted policy measures and to promote safe, honourable and sustainable tourism. It is expected that more such MoUs will be signed in the future order to strengthen the Hospitality & Tourism Industry.

The CNX Nifty is currently trading at 14684.50, up by 103.05 points or 0.71% after trading in a range of 14559.00 and 14689.85. There were 41 stocks advancing against 9 stocks declining on the index.

The top gainers on Nifty were Wipro up by 9.45%, Hindalco up by 5.73%, Asian Paints up by 3.90%, Mahindra & Mahindra up by 3.66% and BPCL up by 2.95%. On the flip side, ICICI Bank down by 0.94%, SBI down by 0.89%, Bajaj Finance down by 0.70%, TCS down by 0.57% and HDFC Life Insurance down by 0.40% were the top losers.

All Asian markets were trading higher, Hang Seng increased 176.57 points or 0.61% to 28,969.71, Taiwan Weighted strengthened 82.08 points or 0.48% to 17,158.81, Nikkei 225 surged 40.68 points or 0.14% to 29,683.37, Shanghai Composite gained 27.63 points or 0.81% to 3,426.62, Straits Times advanced 16.37 points or 0.51% to 3,201.14, Jakarta Composite soared 6.76 points or 0.11% to 6,086.26 and KOSPI was up by 4.29 points or 0.13% to 3,198.62.

European markets were trading higher, UK’s FTSE 100 increased 27.40 points or 0.39% to 7,010.90, France’s CAC increased 13.77 points or 0.22% to 6,247.91 and Germany’s DAX was up by 95.12 points or 0.62% to 15,350.45.
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