Markets remain firm; APSEZ, Tata Motors shares advance

02/09/2016 10:19

The key domestic benchmark indices were trading in a positive terrain in the morning trading session as robust domestic and foreign demand boosted manufacturing activity to a 13-month high in August as the Manufacturing PMI rose to 52.6 from 51.8 in July.

The investors may resort to a watchful approach later in the day ahead of the much anticipated US jobs data for August to be released today which may offer further cues over the timing of the US Federal Reserve’s next interest rate hike.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28470.46 up by 46.98 points or by 0.17 per cent, while the NSE Nifty was at 8777.85 points, trading higher by 3.2 points or by 0.04 per cent.

The BSE Sensex touched an intraday high of 28525.87 and an intraday low of 28428.35 while the NSE Nifty touched an intraday high of 8798.45 and an intraday low of 8770.1

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 268.35,+3.63 per cent), Tata Motors Ltd. (Rs. 554.25,+1.95 per cent), Maruti Suzuki India Ltd. (Rs. 5144.65,+1.71 per cent), Asian Paints Ltd. (Rs. 1169.50,+1.22 per cent), Lupin Ltd. (Rs. 1517.95,+1.09 per cent), among others.

Meanwhile, Coal India Ltd. (Rs. 332.40,-1.67 per cent), Bajaj Auto Ltd. (Rs. 2950.50,-1.54 per cent), Reliance Industries Ltd. (Rs. 1016.25,-1.25 per cent), GAIL (India) Ltd. (Rs. 389.00,-0.77 per cent), Mahindra & Mahindra Ltd. (Rs. 1442.30,-0.66 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2052 shares traded, 1213 shares advanced, 745 shares declined while 94 were unchanged.

On the global front, Asian stocks were trading marginally higher today as risk aversion ruled sentiment ahead of the US jobs data which may determine whether the world’s top central bank moves to tighten interest rates as early as this month. US stocks ended lower in the previous trading session amid caution ahead of Friday’s payrolls numbers while a renewed contraction in US manufacturing clouded the country’s economic outlook.

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