As per the provisional closing data, the barometer index, the S&P BSE Sensex, was down 127.31 points or 0.22% at 58,177.27. The Nifty 50 index was down 13.95 points or 0.08% at 17,355.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.32% while the S&P BSE Small-Cap index gained 0.8%.

Buyers outpaced sellers. On the BSE, 1,720 shares rose and 1,544 shares fell. A total of 204 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 222,625,116 with 4,630,376 deaths. India reported 374,269 active cases of COVID-19 infection and 442,874 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India recorded 27,254 new cases. The country's recovery rate currently stands at 97.54% with 37,687 recoveries in the last 24 hours taking the total recoveries to 3,24,47,032.

Economy:

India's Index of Industrial Production (IIP), rose 11.5% on a year-on-year basis in July 2021. But slowed down as against 13.5% in June. Slowdown in IIP on a sequential basis was on the back of deceleration manufacturing, along with mining despite easing pandemic-related restrictions. For July 2021, the quick estimates of IIP, with base 2011-12 stands at 131.4, a statement by the Statistics and Programme Implementation Ministry said. The IIP for the mining, manufacturing and electricity sectors for July stood at 104.6, 130.9 and 184.7, respectively.

Broader Market Gainers:

Sygene International (up 5.82%), JSW Energy (up 5%), Mindtree (up 4.41%), Indian Railway Catering and Tourism Corporation (up 4.36%) and Dalmia Bharat (up 3.91%) were top gainers in Mid Cap space.

Hindustan Copper (up 7.33%), FDC (up 6.74%), EID-Parry India (up 5.19%), CDSL (India) (up 5%) and Firstsource Solutions (up 5.88%) were top gainers in Small Cap index.

Stocks in Spotlight:

Advanced Enzyme Technologies surged 9.36% to Rs 401.15 after the company announced positive clinical breakthrough in the randomized controlled trials (RCTs) of systemic enzymes and probiotics to resolve 'long covid' fatigue symptoms. In an exchange filing made during market hours today, the company said that its systemic enzyme and probiotic supplements—ImmunoSEB and ProbioSEB CSC3 have passed the promising stages of randomized controlled clinical trials in terms of efficacy to resolve post‐COVID fatigue symptoms.

Infosys fell 0.15%. The IT major and Microsoft have entered into a multi-year strategic engagement with Ausgrid to accelerate its cloud transformation journey and establish Ausgrid as a leading digital utility. Ausgrid is the largest distributor of electricity on Australia's east coast, providing power to 1.8 million customers, which is over 4 million Australians relying on the power distributor everyday.

SpiceJet rose 0.22%. The low-cost air carrier announced that it has commercially agreed a settlement with CDB Aviation, another major lessor of MAX aircraft. This will add to already announced settlement with Avolon, a major lessor of MAX aircraft to grow its fleet of 737 MAX aircraft. The airline expects to start operations of MAX aircraft around the end of September 2021, subject to regulatory approvals, the company said in a statement.

Borosil soared 18.32% after the Directorate General of Trade Remedies (DGTR) initiated the sunset review investigation concerning imports of Opal Glassware originating in or exported from China PR and UAE. Borosil (the applicant) had alleged that dumping of Opal Glassware (subject goods) from China PR and UAE (subject countries) has continued even after the imposition of anti-dumping duty and that there is likelihood of continuatior/recurrence of the dumping and the injury in case of cessation of the duties. The applicant has requested for extension of the duties on the imports of the subject goods, originating in or exported from the subject countries.

APL Apollo Tubes fell 0.69%. The Office of the Controller General of Patents, Designs & Trademarks granted six registrations to the innovative products of APL Apollo Tubes. The new products include: Apollo Reflector (to be used as roadside reflectors), Apollo Fence (to be used for fencing solutions), Apollo Oval (to be used as gym equipments), Apollo Plank (to be used in stairs & scaffolding), Octogon (to be used in lighting pole) and Chequered coil (to be used as covering panels).

MAS Financial Services rose 1.59% after the NBFC specialized in MSME financing, announced that it has partnered with CredAvenue for their co-lending platform. The NBFC said said it intends to utilize the platform for partnering with multiple originators and also plans to utilize the full stack discovery, credit, operations, and risk management modules available on CredAvenue's co-lending platform.

Granules India slipped 1.57% after the drug maker said that it is voluntarily recalling one batch of naproxen sodium 220mg tablets at a retail level due to a minor CGMP deviation.

MTAR Technologies rose 2.63% after the company said it has received orders worth about Rs 220 crore from Bloom Energy, USA for providing manufactured and assembled products. The order is for export of Yuma Hot Boxes and associated components for Bloom Energy to be delivered over the four quarters of the calendar year 2022. The company said it is the largest single order ever received and demonstrates the customer confidence. The order also supports the growth targets that MTAR has set for itself.

Goldiam International jumped 10.84% after the company's board approved a proposal to buyback equity shares worth upto Rs 45.60 crore. The company announced that its board has approved share buyback at price of Rs 1,200 per share. The buyback price is at 30.26% premium to the scrip's closing price of Rs 921.20 per share recorded on Thursday (9 September 2021).

Paisalo Digital gained 1.11%. The company's board will meet on 16th and 17th September 2021 to consider issuing unlisted, unsecured, unrated non-convertible debentures (NCDs) through private placement basis.

Global Markets:

Shares in Europe traded higher while most Asian markets closed on a mixed note on Monday. Investors continued to weigh up the European Central Bank's latest policy decision and inflation data.

Investors digested the ECB's decision last week to slow down bond buying under its pandemic emergency purchase programme (PEPP) in response to higher inflation and stronger GDP growth across the euro zone. The ECB also modestly revised up its medium-term inflation forecasts, a move that followed data showing euro zone inflation notched a decade high of 3% in August.

In Asia, Chinese technology stocks were under pressure after a report that China is seeking to break up Ant Group Co.'s Alipay and create a separate app for its loan business. Trade tension is also in the spotlight again after the Biden administration was said to be reportedly weighing a new probe into Chinese subsidies.

Elsewhere, North Korea said it successfully test-fired a new type of long-range cruise missile, ratcheting up tensions on the Korean Peninsula.

In the US, stocks ended lower on Friday as investors weighed signs of higher inflation, while Apple Inc tumbled following an unfavorable court ruling related to its app store.

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