Stock markets were trading in fine fettle in the noon session due to buying in Energy, Oil & Gas and Metal sectors. Sentiments were upbeat as India's annual wholesale price inflation eased to 11.16% in July from the previous month's 12.07%, helped by lower increases in the cost of fuel and food items. A low-base effect also contributed to the WPI inflation in July, since it stood at minus 0.25% in the corresponding month of 2020. Additional support also came with ICRA Ratings’ report stating that that most states are likely to be in better fiscal health this financial year as 20 of them are collectively carrying forward Rs 2.6 lakh crore borrowed in FY21 to this fiscal. It said this also explains why the states have been borrowing less so far this year despite the pandemic-driven revenue crunch and the soaring public expenses towards health and food. On the global front, Asian markets were trading mostly in red amid worries about surging coronavirus infections in the region, as well as concerns about the long-term impact from the Afghan government’s collapse.
The BSE Sensex is currently trading at 55577.33, up by 140.04 points or 0.25% after trading in a range of 55281.02 and 55680.75. There were 15 stocks advancing against 15 stocks declining on the index.
The broader indices were trading in red; the BSE Mid cap index lost 0.17%, while Small cap index was down by 0.49%.
The top gaining sectoral indices on the BSE were Energy up by 1.77%, Oil & Gas up by 1.13%, Metal up by 0.83% and FMCG was up by 0.35%, while Telecom down by 0.86%, Power down by 0.81%, Consumer Durables down by 0.67%, Capital Goods down by 0.53% and Utilities was down by 0.52% were the top losing indices on BSE.
The top gainers on the Sensex were Tata Steel up by 2.45%, Mahindra & Mahindra up by 2.43%, Reliance Industries up by 2.15%, Bajaj Finance up by 1.49% and Bajaj Finserv was up by 1.28%. On the flip side, Bajaj Auto down by 1.85%, Maruti Suzuki down by 1.46%, Power Grid down by 1.30%, Tech Mahindra down by 1.28% and SBI was down by 1.04% were the top losers.
Meanwhile, India’s merchandise exports rose by 49.85% in July 2021 as compared to same period of last year on account of healthy growth in petroleum, engineering, and gems and jewellery segments. The trade balance for July 2021 was estimated at (-) $10.97 billion as against (-) $4.83 billion in July 2020, which is a decline of 127.37 per cent.
As per the data released by the Commerce Ministry, exports in July 2021 were $35.43 Billion, as compared to $23.64 Billion in July 2020, exhibiting a positive growth of 49.85 percent. In Rupee terms, exports were Rs. 2,64,033.76 crore in July 2021, as compared to Rs. 1,77,305.79 crore in July 2020, registering a positive growth of 48.91 percent. Cumulative value of exports for the period April- July 2021 was $130.82 Billion as against $74.96 Billion during the period April- July 2020, registering a positive growth of 74.52 percent. In Rupee terms, it was up by 70.85% to Rs 9,67,579.13 crore from Rs 5,66,322.06 crore.
Non-petroleum and Non-Gems and Jewellery exports in July 2021 were $26.12 Billion, as compared to $20.37 Billion in July 2020, registering a positive growth of 28.18 per cent. Non-petroleum and Non-Gems and Jewellery exports in April-July 2021 were $99.36 Billion, as compared to $64.29 Billion for the corresponding period in 2020-21, which is an increase of 54.55 per cent.
On the other hand, imports during July 2021 too increased by 98.31% to $46.40 billion as compared to $28.47 billion in July 2020, while in rupee terms it was up by 24.31% to Rs 3,45,814.93 crore from Rs 2,13,499.56 crore in June 2020. Cumulative value of imports for the period April- July 2021 was $ 172.55 Billion as against $88.91 Billion during the period April- July 2020, registering a positive growth of 94.08 percent. In rupee terms, it was Rs 12,76,776.03 crore, up by 90.03% from Rs 6,71,894.74 crore in the same period last year.
Oil imports in July 2021 were $12.89 Billion, which was 97.45 percent higher, compared to $6.53 Billion in July 2020. Oil imports in April- July 2021 were $ 43.90 Billion which was 123.84 per cent higher compared to $19.61 Billion over the same period last year. Non-oil imports in July 2021 were estimated at $33.51 Billion which was 52.73 percent higher compared to $21.94 Billion in July 2020. Non-Oil and Non-Gold imports were $29.30 Billion in July 2021, recording a positive growth of 45.40 percent, as compared to Non-Oil and Non-Gold imports of $20.15 Billion in July 2020. Non-Oil and Non-Gold imports were $116.56 Billion in April- July 2021, recording a positive growth of 74.43 percent, as compared to Non-Oil and Non-Gold imports of $66.82 Billion in April- July 2020.
The CNX Nifty is currently trading at 16555.35, up by 26.25 points or 0.16% after trading in a range of 16480.75 and 16585.45. There were 21 stocks advancing against 29 stocks declining on the index.
The top gainers on Nifty were BPCL up by 2.67%, Tata Steel up by 2.47%, Mahindra & Mahindra up by 2.46%, Reliance Industries up by 2.08% and Indian Oil Corporation was up by 1.72%. On the flip side, Shree Cement down by 2.26%, Bajaj Auto down by 1.84%, Maruti Suzuki down by 1.57%, Power Grid down by 1.38% and Eicher Motors was down by 1.33% were the top losers.
Asian markets were trading mostly in red; Nikkei 225 slipped 453.96 points or 1.62% to 27,523.19, Hang Seng decreased 320.86 points or 1.22% to 26,070.76, Taiwan Weighted dropped 123.34 points or 0.73% to 16,858.77, Jakarta Composite lost 71.59 points or 1.17% to 6,067.90 and Straits Times trembled 12.10 points or 0.38% to 3,153.39. On the flip side, Shanghai Composite gained 0.06 points to 3,516.36.