The benchmark indices were trading with small gains in early afternoon trade. The Nifty index hovered a tad below 16,250 level.
At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 48.55 points or 0.09% at 54,326.27. The Nifty 50 index gained 5.55 points or 0.03% at 16,243.75.
In the broader market, the S&P BSE Mid-Cap index fell 0.77% while the S&P BSE Small-Cap index lost 0.49%.
The market breadth was negative. On the BSE, 1,411 shares rose and 1,761 shares fell. A total of 131 shares were unchanged.
Economy:
Prime Minister Narendra Modi will release the next instalment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on 9 August 2021 at 12:30 PM via video conferencing.
This will enable the transfer of an amount of more than Rs 19,500 crore to more than 9.75 crore beneficiary farmer families Under the PM-KISAN scheme, a financial benefit of Rs 6,000 per year is provided to the eligible beneficiary farmer families, payable in three equal 4-monthly installments of Rs 2,000 each. The fund is transferred directly to the bank accounts of the beneficiaries.
In this scheme, Samman Rashi of over Rs 1.38 lakh crore has been transferred to farmer families so far. Union Agriculture Minister will also be present on the occasion.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 20,27,29,434 with 42,94,362 deaths. India reported 4,02,188 active cases of COVID-19 infection and 4,28,309 deaths while 3,11,39,457 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India has reported 35,499 new cases and 447 deaths in the last 24 hours, as per a government health bulletin. Active caseload in the country currently stands at 4,02,188. A recovery rate of 97.40% was recorded.
Meanwhile, Johnson and Johnson's single-dose COVID-19 vaccine has been given approval for emergency use in India. Now India has five Emergency Use Authorization vaccines.
Mumbai Suburban local train services will be available for common man from 15th August. Maharashtra Chief Minister Uddhav Thackeray announced that those people who have completed 14 days after taking 2nd dose of covid vaccine will be allowed to commute via local trains.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.53% to 12.6750. The Nifty 26 August 2021 futures were trading at 16,265.60, at a premium of 21.85 points as compared with the spot at 16,243.75.
The Nifty option chain for 26 August 2021 expiry showed maximum Call OI of 20 lakh contracts at the 16,500 strike price. Maximum Put OI of 49.2 lakh contracts was seen at 15,000 strike price.
Buzzing Index:
The Nifty Oil & Gas index fell 1% to 6,588.65. Adani Total Gas (down 2.26%), Gujarat State Petronet (down 1.93%), Mahanagar Gas (down 1.76%), Gujarat Gas (down 1.72%) and Indraprastha Gas (down 1.44%) were the major losers in the Oil & Gas segment.
Stocks in Spotlight:
Karnataka Bank rose 0.41%. The bank said that the bank is empaneled by the Reserve Bank of India to act as an 'agency bank' to facilitate transactions related to Government businesses.
Vishwaraj Sugar Industries rallied 2.03% after the company said that its board will consider stock split on Wednesday, 18 August 2021. The board will also consider and fix record date for the purpose of dividend and sub-division of shares.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU