Domestic indices trade slightly in green in early deals

Domestic equity indices have made a positive start and are trading slightly in green in early deals on Tuesday amid positive cues from the other Asian markets. Meanwhile, broader indices were also trading marginally higher with BSE Mid cap index and Small cap index gaining in the range of 0.05%-0.20%. Buying in Bajaj Finserv, Bajaj Finance, Tata Motors, Infosys and HCL Tech companies stocks helped the markets to trade above neutral lines. Some support came in as foreign institutional investors (FIIs) bought equities worth Rs 724.27 crore on December 9. Further, there were some encouragement in markets as private report said India retail inflation likely fell to 5.53% in November after breaching the central bank’s 6% upper tolerance band in October as the arrival of fresh produce to markets moderated soaring vegetable prices.

On the global front, Asian markets are trading mostly in green on Tuesday as China’s stimulus pledged boosts sentiment. The US markets ended lower on Monday, driven by a drop in AI leader Nvidia that weighed on tech stocks, as investors looked ahead to a crucial inflation report set for later this week. Back home, traders were seen pilling up positions in Realty, IT, Healthcare, FMCG and TECK, while selling was witnessed in Utilities, Power, Telecom, Auto and Energy. 

The BSE Sensex is currently trading at 81555.02, up by 46.56 points or 0.06% after trading in a range of 81416.56 and 81620.45. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.07%, while Small cap index up by 0.16%.

The top gaining sectoral indices on the BSE were Realty up by 0.60%, IT up by 0.30%, Healthcare up by 0.23%, FMCG up by 0.20% and TECK up by 0.19%, while Utilities down by 0.36%, Power down by 0.34%, Telecom down by 0.34%, Auto down by 0.27% and Energy down by 0.13% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finserv up by 1.39%, Bajaj Finance up by 1.08%, Tata Motors up by 1.03%, Infosys up by 0.81% and HCL Tech up by 0.67%. On the flip side, Mahindra & Mahindra down by 1.08%, Tech Mahindra down by 0.81%, Maruti Suzuki down by 0.65%, Ultratech Cement down by 0.57% and Bharti Airtel down by 0.56% were the top losers.

Meanwhile, Union Minister of State Kirti Vardhan Singh has said that the Digital India initiative has laid the foundation for a developed India by 2047. He stated over the past 11 years, the government has brought about a digital revolution, inspiring citizens to work digitally, which has had an unprecedented impact on 1.4 billion people.

Further, he mentioned that during his travels, foreign government representatives and citizens have praised India’s digital revolution. He said it is encouraging that the vision of Digital India has helped India earn a distinct place on the global map. Digital services have also helped curb corruption. Initiatives like UPI, DigiLocker, DigiYatra, CoWIN, Aarogya Setu, e-Sanjeevani, UMANG, GeM, DIKSHA, e-Hospital, and e-Court are impacting millions of lives and making tasks simpler.

Besides, he said that under the leadership of Prime Minister Narendra Modi, the world is now recognizing India’s digital revolution. The Digital India program, launched by the Government on July 1, 2015, envisions transforming India into a knowledge-based economy and digitally empowered society by ensuring digital services, accessibility, inclusion, and empowerment.

He highlighted India’s digital payment revolution, which is gaining global recognition. Currently, UPI (Unified Payments Interface) is used for payments in seven countries: UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius. UPI's launch in France is especially significant as it marks the first use of UPI in Europe.

The CNX Nifty is currently trading at 24635.65, up by 16.65 points or 0.07% after trading in a range of 24593.25 and 24655.20. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 2.29%, Bajaj Finserv up by 1.45%, Apollo Hospital Ent. up by 1.35%, Bajaj Finance up by 1.11% and Tata Motors up by 1.10%. On the flip side, Mahindra & Mahindra down by 1.11%, Tech Mahindra down by 0.86%, Trent down by 0.81%, ONGC down by 0.81% and Bajaj Auto down by 0.74% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 213.06 points or 1.03% to 20,627.15, Shanghai Composite strengthened 53.59 points or 1.55% to 3,456.12, Straits Times rose 19.25 points or 0.5% to 3,814.17, KOSPI increased 49.69 points or 2.06% to 2,410.27 and Nikkei 225 surged 114.41 points or 0.29% to 39,274.91. However, Taiwan Weighted lost 182.16 points or 0.79% to 23,091.09 and Jakarta Composite plunged 19.16 points or 0.26% to 7,418.57.