At 10:26 IST, the barometer index, the S&P BSE Sensex, was down 136 points or 0.35% at 38,764.70. The Nifty 50 index slipped 10.65 points or 0.09% at 11,459.85.
The broader market was positive. The S&P BSE Mid-Cap index was up 0.19% while the S&P BSE Small-Cap index jumped 0.91%.
The market breadth was strong. On the BSE, 1279 shares rose and 823 shares fell. A total of 112 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 486.09 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 775.23 crore in the Indian equity market on 1 September, provisional data showed
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 25,662,349 with 855,578 deaths. India reported 8,01,282 active cases of COVID-19 infection and 66,333 deaths while 29,01,908 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
GST Collections:
Goods and Services tax (GST) collection for the month of August stood at Rs 86,449 crore, slightly less than Rs 87,422 crore collected in July, the government said on September 1. The collection is 12% lower than Rs 98,202 crore collected in the month of August 2019.
Earnings Today:
Arvind Fashion (up 2.36%), Coal India (up 2.25%), Dish TV (down 2.75%), Infibeam Avenues (up 1.42%), Jubilant Foodworks (up 0.14%), Sadbhav Engineering (up 1.66%0 and Zuari Agrochem (up 0.52%) are some of the companies that will announce their quarterly results today.
Stocks in Spotlight:
NMDC gained 1.9% to Rs 85.10 after the state-owned miner said its iron ore production rose 15% to 1.62 million tonnes (MT) in August 2020 from 1.41 MT in August 2019. The company's iron ore sales climbed 20% to 1.79 MT in August 2020 as against 1.49 MT in August 2019. On a month-on-month basis, NMDC's production declined 26% and sales fell 30% in August 2020 over July 2020. The announcement was made after market hours yesterday, 1 September 2020.
Coal India rose 1.80% to Rs 135.90 after the coal major said its production grew 7.1% to 37.17 million tonnes in August 2020 as against 34.70 million tonnes in August 2019. Coal offtake jumped 9.3% to 44.34 million tonnes in August 2020 compared with 40.57 million tonnes in August 2019. On a month-on-month basis, coal production slipped 0.50% and coal offtake advanced 2.18% compared with last month. The disclosure was made after market hours yesterday, 1 September 2020.
TVS Motor Company registered a sales growth of 14% in August 2020 with 287,398 units as against 252,744 units in July 2020. However, total auto sales declined 1.1% in August 2020 compared with 290,455 units sold in the same month last year. TVS Motor's total two-wheelers rose 0.5% to 277,226 units while the total three-wheeler sales tumbled 30.3% to 10,172 units in August 2020 over August 2019. The company's total exports stood at 68,347 units in August 2020, down by 1.9% from 69,702 units exported in August 2019.
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