Indices trade near flatline; European mrkt decline
FMCG, media and private bank shares advanced while realty, auto and IT stocks advanced.
At 13:25 IST, the barometer index, the S&P BSE Sensex added 31.42 points or 0.04% to 80,113.11. The Nifty 50 index rose 13.35 points or 0.05% to 24,511.35.
In the broader market, the S&P BSE Mid-Cap index advanced 0.02% and the S&P BSE Small-Cap index jumped 0.11%.
The market breadth was negative. On the BSE, 2,140 shares rose and 1,788 shares fell. A total of 215 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 4.49% to 11.63.
Gainers & Losers:
Shriram Finance (up 2.34%), ITC (up 1.82%), Trent (up 1.59%), Bharat Electronics (up 1.42%) and Kotak Mahindra Bank (up 1.15%) were the major Nifty50 gainers.
Mahindra & Mahindra (M&M) (down 2.85%), Eternal (down 1.89%), Apollo Hospitals Enterprise (down 1.69%), Infosys (down 1.34%) and JSW Steel (down 1.20%) were the major Nifty50 Losers.
Stocks in Spotlight:
CG Power and Industrial Solutions jumped 4.91% after the firm?s subsidiary, CG Semi has launched its first outsourced semiconductor assembly and test (OSAT) facility in Sanand, Gujarat, to offer solutions for packaging technologies.
Sammaan Capital rallied 6.57% after the company announced that it raised $300 million through the allotment of 8.95% Senior Secured Social Bonds due 2028. Of the total issue, $16.7 million was raised under Rule 144A and $283.3 million under Regulation S, taking the aggregate size to $300 million. The bonds are expected to be listed on the Global Securities Market of the India International Exchange (IFSC).
Omaxe surged 5.34% after the board of directors of the company?s wholly owned step down subsidiary, Bhanu Infrabuild Private Limited approved the allotment of non-convertible debentures (NCDs) worth Rs 19 crore on private placement basis.
Kitex Garments hit an upper circuit of 5% after the company said its subsidiary, Kitex Apparel Parks, has commenced commercial production at its manufacturing unit in Warangal district, Telangana.
Authum Investment & Infrastructure rose 0.82% after the company's board approved a partial stake sale in its newly incorporated sports subsidiary while deciding against raising funds at present.
Samvardhana Motherson International (SAMIL) advanced 1.76% after the company?s board approved the acquisition of 81% stake in Yutaka Giken Co. (YGCL) and 11% stake in Shinnichi Kogyo Co. (Shinnichi).
ABB India rose 0.70%. The company announced that it has secured an order worth Rs 173.55 crore from Siemens Gamesa Renewable Power, Chennai, for the supply of 3.X wind turbine converters and electrical cabinets.
Global Markets:
European market declined as traders? attention turned to inflation prints from some of the region?s biggest economies, along with the U.S.
Asia-Pacific markets traded mixed on Friday, breaking ranks with Wall Street as investors also assessed a slate of economic data in the region.
The Tokyo core CPI, which strips out fresh food but includes energy, climbed 2.5% from a year earlier, easing from July?s 2.9% increase. The figure, however, remained above the Bank of Japan?s 2% target.
Japan?s unemployment rate also eased to 2.3% in July, down from 2.5% the previous month.
Overnight stateside, the three major averages closed higher. The broad market S&P 500 index finished 0.32% higher at 6,501.86 after hitting a new all-time intraday high above the 6,500 level.
The Nasdaq Composite ended the day up 0.53% at 21,705.16, while the Dow Jones Industrial Average rose 71.67 points, or 0.16% to end at 45,636.90, which was also a record.
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