The equity benchmark indices extended gains and hit record high levels in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, surged 211.38 points or 0.36% at 58,508.29. The Nifty 50 index advanced 46.35 points or 0.27% at 17,424.15.
The Sensex hit a fresh high of 58,553.07 while the Nifty hit an all-time high of 17,436.50 in afternoon trade.
Housing Development Finance Corporation (HDFC) (up 2.50%), Reliance Industries (RIL) (up 1.01%) and HDFC Bank (up 0.72%) boosted the indices.
The broader market suffered minor losses. The S&P BSE Mid-Cap index fell 0.02%. The S&P BSE Small-Cap index lost 0.21%.
Sellers outpaced buyers. On the BSE, 1,339 shares rose and 1,746 shares fell. A total of 151 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 589.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 547.31 crore in the Indian equity market on 6 September 2021, provisional data showed.
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COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 22,11,14,526 with 45,75,054 deaths. India reported 3,92,864 active cases of COVID-19 infection and 4,41,042 deaths while 3,22,24,937 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Gainers & Losers:
Bharti Airtel (up 2.56%), IndusInd Bank (up 1.50%) and ITC (up 1.48%) were major gainers in Nifty 50 index.
Wipro (down 1.14%), SBI Life Insurance Company (down 1.08%), Axis Bank (down 1.01%), Infosys (down 0.95%) and Tech Mahindra (down 0.90%) were major losers in Nifty 50 index.
Stocks in Spotlight:
Snowman Logistics lost 0.23%. On Tuesday, the company announced the completion of construction of a temperature-controlled warehouse at Siliguri, West Bengal. The facility with a total capacity of 4,032 pallets has become operational from the 6 September 2021. It is a multi-temperature facility designed to store products ranging from ambient temperature to -25 degree centigrade with 8 chambers, 5 loading bays with related infrastructure that includes G+5 racking system, modern handling equipment, etc., and ample refrigerated truck parking space.
VST Tillers Tractors jumped 5.95% after the company launched the VST range of Tractors and Power Tillers in Southern Africa. The company has entered into an agreement with ETG (Export Trading Group), for distribution of its Tractors, Power Tillers, Power Reapers and Diesel Engines in the Southern African markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia. ETGL, a global conglomerate with expertise across various industries, operates an established Automotive and Farm Equipment Distribution business in Southern African region.
Global Markets:
European stocks fell across the board while Asian stocks were mixed on Tuesday.
China's import and export growth accelerated in August despite disruptions due to the spread of the coronavirus's delta variant. Exports rose 25.6% over a year earlier to $294.3 billion, up from July's 18.9% growth, customs data showed Tuesday. Imports rose 33.1% to $236 billion, up from the previous month's 28.7%.
Meanwhile. the Reserve Bank of Australia today announced its decision to hold steady on the cash rate target.
US stocks were closed on Monday for a holiday. The US Dow Jones index futures were up 19 points.
The August U.S. jobs report came in short of expectations, highlighting continued concern about the spread of COVID-19 and its delta variant. Nonfarm payrolls increased by 2,35,000 in August, the Labor Department reported. The disappointing August jobs report will likely influence the Fed's timeline for tapering its asset-purchase program.
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