• Sensex   38845.82   -134.03  sensex_dwn_arr
  • Nifty   11504.95   -11.15   sensex_dwn_arr
  • Bank Nifty   22031.05   -1.30   sensex_dwn_arr
  • BSE Midcap   15047.80   0.26  sensex_up_arr
  • USDINR   73.48   -0.32   sensex_dwn_arr
Mid Session
Home >> Markets >> Equity >> News >> Mid Session Detailed News
Shares pare gains; breadth positive
(11:24, 16 Sep 2020)
Indices pared gains in mid-morning trade amid profit selling. At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 104.9 points or 0.27% at 39,149. The Nifty 50 index added 29.3 points or 0.25% at 11,551.10.

The broader market was up for third trading session after the Sebi on 11 September issued a circular mandating multi cap funds to allocate least 25% of their portfolios in large-, mid- and small-caps each by February 2021. The S&P BSE Mid-Cap index gained 0.07% while the S&P BSE Small-Cap index rose 0.24%.

The market breadth was positive. On the BSE, 1246 shares rose and 1124 shares fell. A total of 163 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,170.89 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 895.63 crore in the Indian equity market on 15 September, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 29,479,686 with 9,33,542 deaths. India reported 9,95,933 active cases of COVID-19 infection and 82,066 deaths while 39,42,360 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Economy:

India's exports slipped 12.66% to $22.7 billion in August, on account of decline in the shipments of petroleum, leather, engineering goods and gems and jewellery items, according to the government data released on 15 September 2020. The country's imports too declined 26% to $29.47 billion in August, leaving a trade deficit of $6.77 billion, compared to a shortfall of $13.86 billion in the same month last year, as per the data.

Buzzing Index:

The Nifty PSU Bank index was down 1% at 1420.76. It was the top loser among other sectoral indices on the NSE.

Union Bank (down 2.84%), Punjab National Bank (down 1.2%), SBI (down 1.15%), UCO Bank (down 1.09%), Bank of Baroda (down 0.97%), Indian Bank (down 0.72%) and J&K Bank (down 0.28%) declined.

Stocks in Spotlight:

Aurobindo Pharma rose 1.14% to Rs 827.35 after the drug maker announced a collaboration with the Council of Scientific and Industrial Research (CSIR) to develop vaccines against Covid-19. Apart from this collaboration, Aurobindo is already developing a vaccine for SARS COV-2 through its wholly-owned US subsidiary Auro Vaccines.

Lakshmi Vilas Bank hit an upper circuit of 10% at Rs 22.35 after the private lender said that the mutual due diligence process for the proposed amalgamation of Clix Group with the bank is substantially complete. The parties are in discussions on the next steps, the bank said in a filing.

Global Markets:

Asian stocks were mixed on Wednesday as investors await the Federal Open Market Committee's quarterly update.

Provisional trade statistics from Japan's Ministry of Finance released Wednesday showed the country's exports in August falling 14.8% as compared to a year ago.

In US, stocks rose on Tuesday, building on the strong performance from the previous session, on the back of broad market gains and solid economic data. Apple on Tuesday announced new devices and services, including a new Apple Watch and two new iPad models.

In the US, the Empire State Manufacturing index came in at 17 for September, rebounding from a print of 3.7 in August.

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