Key benchmark indices are trading lower in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 75.84 points or 0.13% at 58,221.07. The Nifty 50 index was down 16.05 points or 0.09% at 17,361.75.
The S&P BSE Mid-Cap index was down 0.17%. The S&P BSE Small-Cap index was down 0.1%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1305 shares rose and 1118 shares fell. A total of 109 shares were unchanged.
Stocks in news:
Infosys fell 0.63%. Infosys said that the Buyback Committee of the company will, on September 8, 2021, consider proposals, including but not to limited to, the closure of the Buyback, pursuant to the terms of the Public Announcement, in view of the fact that the Company has utilized 99.9999996% of the Maximum Buyback Size (excluding transaction costs).
VST Tillers Tractors jumped 5.68%. VST Tillers Tractors launched the VST range of Tractors and Power Tillers in Southern Africa. The company has entered into an agreement with ETG (Export Trading Group), for distribution of its Tractors, Power Tillers, Power Reapers and Diesel Engines in the Southern African markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia.
Edelweiss Financial Services rose 0.75%. Edelweiss Financial Services announced that its public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed.
International Conveyors gained 2.18%. International Conveyors said that the company has sold 7.95% stake in Elpro International for Rs 74.14 crore.
Ashapura Minechem dropped 4.22%. Ashapura Minechem said that operations in Guinea continue to be normal despite certain political developments in Conakry, the capital of Guinea, since September 5. We continue to monitor the situation closely and all the employees of the Ashapura Group in Guinea remain safe and are in contact with the company, it added.
Global Markets:
Asian stocks are trading mixed on Tuesday as investors look ahead to the release of Chinese August trade data. The Reserve Bank of Australia is also set to release its rate decision.
Markets in the U.S. were closed on Monday for a holiday.
Back home, key benchmark indices advanced for the third straight session and attained record closing levels on Monday, supported by firm global stocks. The barometer index, the S&P BSE Sensex, added 166.96 points or 0.29% to 58,296.91. The Nifty 50 index advanced 54.20 points or 0.31% to 17,377.80.
Foreign portfolio investors (FPIs) sold shares worth Rs 589.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 547.31 crore in the Indian equity market on 6 September, provisional data showed.
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