Key benchmark indices are trading lower in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 218.96 points or 0.38% at 58,086.11. The Nifty 50 index was down 57.55 points or 0.33% at 17,311.70. Most Asian stocks are trading lower.
The S&P BSE Mid-Cap index was down 0.09%. The S&P BSE Small-Cap index was up 0.22%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1427 shares rose and 1188 shares fell. A total of 172 shares were unchanged.
Stocks in news:
Infosys fell 0.8%. Infosys launched Infosys Equinox to help enterprises securely deliver hyper-segmented, personalized omnichannel commerce experiences for B2B and B2C buyers.
RIL dropped 1.51%. Jio and Google announced that they have made considerable progress towards launching the much-awaited JioPhone Next, the made-for-India smartphone being jointly designed by the companies. Jio Platforms (Jio) is a majority-owned subsidiary of RIL.
Hinduja Global Solutions rose 0.25%. Hinduja Global Solutions announced that the Crown Commercial Services (CCS) Framework renewed the company's approval to supply contact centre and business services solutions on the CCS Framework in the UK.
Arvind SmartSpaces rose 1.25%. The board of directors of Arvind SmartSpaces (ASL) approved the allotment of 68.5 lakh equity shares aggregating to about Rs. 85 crore to HDFC Capital Affordable Real Estate Fund-1 (H-CARE 1) and the promoters of ASL at the price of Rs. 124 per share.
Dilip Buildcon rose 1.35%. Dilip Buildcon said that its wholly owned subsidiary Bangalore Malur Highways has received the financial closure from the National Highways Authority of India.
Reliance Infrastructure advanced 5%. The Supreme Court upheld the arbitral award in favour of Reliance Infrastructure's subsidiary DAMEPL. Delhi Metro Rail Corporation is directed to pay damages of Rs.2,950 crore plus interest upto the date of payment to DAMEPL. The proceeds from the arbitral award to be utilized for debt reduction.
On the macro front, Industrial growth slowed to 11.5% in July against 13.5% in June because expansion in the biggest segment, manufacturing, along with mining, saw deceleration despite easing pandemic-related restrictions.
Global Markets:
Asian stocks are trading lower on Monday, with stocks in Hong Kong leading losses. Chinese technology stocks were under pressure after a report that China is seeking to break up Ant Group Co.'s Alipay and create a separate app for its loan business. Trade tension is also in the spotlight again after the Biden administration was said to be reportedly weighing a new probe into Chinese subsidies.
Elsewhere, North Korea said it successfully test-fired a new type of long-range cruise missile, ratcheting up tensions on the Korean Peninsula.
Wall Street ended lower on Friday as investors weighed signs of higher inflation, while Apple Inc tumbled following an unfavorable court ruling related to its app store.
Looking ahead for the week, the U.S. consumer price index for August is set to be out on Tuesday, while retail sales figures stateside are expected Thursday. A slew of Chinese economic data, including retail sales and industrial production for August, is also set to be out on Thursday.
Back home, the domestic equity barometers ended flat with some positive bias on Thursday. The barometer index, the S&P BSE Sensex, advanced 54.81 points or 0.09% to 58,305.07. The Nifty 50 index added 15.75 points or 0.09% to 17,369.25. The domestic stock market were closed on Friday, 10 September 2021, on account of Ganesh Chaturthi.
Foreign portfolio investors (FPIs) bought shares worth Rs 423.44 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 704.21 crore in the Indian equity market on 9 September, provisional data showed.
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