The benchmark indices were trading with modest gains in afternoon trade. Shares in Europe and Asia advanced on value buying after recent selloff.
At 13:20 IST, the barometer index, the S&P BSE Sensex, jumped 195.99 points or 0.35% at 55,525.31. The Nifty 50 index gained 38.10 points or 0.23% at 16,488.60.
TCS (up 2.58%), HCL Technologies (up 3.82%) and Reliance Industries (RIL) (up 0.59%) supported the indices.
The broader indices tumbled. The S&P BSE Mid-Cap index fell 0.59%. The S&P BSE Small-Cap index lost 1.29%.
Sellers outnumbered buyers. On the BSE, 752 shares rose and 2426 shares fell. A total of 130 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,287.03 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 119.30 crore in the Indian equity market on 20 August 2021, provisional data showed.
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.
Gainers & Losers:
Bajaj Finserv (up 2.58%), Bajaj Finance (up 1.92%) and Wipro (up 1.42%) were other major gainers in Nifty 50 index.
Tata Consumer Products (down 2.12%), Eicher Motors (down 1.90%), Ultratech Cement Co (down 1.89%), Power Grid Corporation of India (down 1.46%) and Grasim Industries (down 1.39%) were major losers in Nifty 50 index.
Stocks in Spotlight:
Affle (India) shed 1.93%. The company's board will consider stock split on Thursday, 26 August 2021.
RattanIndia Enterprises was locked in a lower circuit of 5% to Rs 46.05. The board of RattanIndia Enterprises on Sunday, 22 August 2021, approved incorporating a wholly owned subsidiary to kickstart drone business in India.
Global Markets:
Shares in Europe and Asia advanced on Monday, 23 August 2021, as traders sought to take advantage of last week's selloff while weighing risks from the delta virus strain and China's regulatory curbs.
Major U.S. stock averages rebounded on Friday boosted by tech stocks. Fed officials are set to gather for their annual meeting in Jackson Hole, Wyo., from Thursday. Market participants will be awaiting insights into the Fed's taper talks as many central bankers aim to move away from easy policy.
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