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Nifty above 18,000 on upbeat global cues; breadth strong

Published on Sep 13, 2022 09:34

The key equity barometers are trading with modest gains in the early trade, tracking positive global cues. The Nifty traded above the 18,000 level. All the sectoral indices on the NSE were in the green with consumer durables, media and financial services stocks leading the rally.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 359.72 points or 0.60% to 60,474.85. The Nifty 50 index gained 112.95 points or 0.39% to 18,049.30.

In the broader market, the S&P BSE Mid-Cap index rose 0.59% while the S&P BSE Small-Cap index gained 0.57%.

The market breadth was strong. On the BSE, 2,040 shares rose and 755 shares fell. A total of 129 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,049.65 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 890.51 crore in the Indian equity market on 12 September, provisional data showed.


India`s consumer price inflation rose to 7% in August from 6.71% in July, figures from the National Statistical Office revealed Monday. In the same period last year, inflation was 5.30%. Food price inflation advanced to 7.62% in August from 6.69% in the previous month. Month-on-month, consumer prices gained 0.52% and food prices moved up 0.75% in August.

Stocks in Spotlight:

Tata Consultancy Services (TCS) added 0.21%. TCS has been chosen by C&S Wholesale Grocers, Inc. (C&S), an industry leader in supply chain solutions and wholesale grocery supply in the United States, to build a new operations platform on Google Cloud to reduce the company`s carbon footprint and enhance the customer experience.

Tata Consumer Products gained 1.16% after the company said that it entered into a health supplements segment and launched Tata GoFit. Tata GoFit, a health supplement range for women, is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics.

Pidilite Industries rose 0.14%. 100X.VC, a leading seed stage CAT 1 VC Fund announced its partnership with Pidilite Industries for the latter`s venture arm called Pidilite Ventures. As a part of the partnership, 100X.VC will collaborate with Pidilite Ventures to identify strategic investment opportunities for them.

Gujarat Apollo Industries hit an upper circuit of 20%. The company has entered into a Joint Venture Agreement with PFH BV.

Global Markets:

Asian stocks are trading higher on Tuesday as investors look ahead to the U.S. inflation report for the month of August. Headline inflation in the U.S. is expected to decline in August, as per reports. But core inflation, excluding energy and food, is projected to rise.

Wall Street equity indexes closed higher on Monday boosted by weaker dollar and growing confidence that higher prices have peaked.

Global markets are gearing up for the latest reading of U.S. inflation, with the August data set to be released Tuesday. The report is one of the last pieces of data on inflation the U.S. Federal Reserve will see ahead of its September meeting, where the central bank is expected to deliver its third consecutive 0.75 percentage point rate hike in an effort to combat high inflation.

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