Markets finish almost flat amid mixed global cues; Sensex declined 15 points & Nifty 50 settles at 16,635

After hitting record-high levels in intraday trade, the benchmark indices sharply pared gains and ended almost flat on Wednesday, August 25, 2021.

The headline S&P BSE Sensex, after hitting a new high of 56,188.13 on the BSE, closed 14.77 points or 0.03 per cent down at 55,944.21 levels. Its NSE counterpart, on the other hand, ended 10.05 points or 0.06 per cent up at 16,634.65 levels. It had hit a new high of 16,712.45 in the intra-day deals. The Nifty Bank index fell 125.85 points or 0.35 per cent to 35,586.25.

The broader markets at BSE underperformed the Sensex with S&P BSE MidCap closing 0.58 per cent higher and S&P BSE SmallCap closing 0.68 per cent higher. Sectorally, the Nifty IT index put up a strong show with a 0.7 per cent gain while the Nifty Realty index slipped 0.8 per cent.

Buyers outpaced sellers. On the BSE, 1999 shares rose and 1207 shares fell. On the Nifty 50 index at NSE, 21 shares rose, 28 fell and one remain unchanged. The top five gainers were Adani Ports (up 3.70 per cent), HDFC Life (up 2.59 per cent), Hindalco (up 2.42 per cent), ONGC (up 2.39 per cent) and Coal India (up 1.91 per cent). The top five losers were Bajaj Finserv (down 2.93 per cent), Titan (down 2.23 per cent), Maruti (down 1.31 per cent), Bharti Airtel (down 1.31 per cent) and Dr Reddy's 1.12 per cent.

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 21,32,10,592 with 44,52,826 deaths. India reported 3,22,327 active cases of COVID-19 infection and 4,35,758 deaths while 3,17,54,281 patients have been discharged, data showed.

Economy

The Cabinet Committee of Economic Affairs has approved the FDI proposal for an investment of upto Rs 15,000 crore in M/s Anchorage Infrastructure Investment Holding Limited. The investment will be a major boost to the infrastructure and construction sector and also to the Airport sector.

It will also be a significant boost to the recently announced National Monetisation Pipeline, as it will help fund leasing out of state-owned infrastructure assets which involve handling assets like roads, railways, airports, sports stadiums, power transmission lines and gas pipelines to private operators. The investment will considerably substantiate the government's plan to develop world-class Airport and transport-related infrastructure through private partnership. The move will also generate indirect employment during construction and ancillary activities.

Union Government will launch the e-Shram portal - National Database on Unorganized Workers (NDUW), on August 26, 2021. Unveiling the logo for the E-Shram portal, Labour and Employment Minister Bhupender Yadav on Tuesday said that targeted identification of the unorganized workers was a much-needed step. He said the portal will be the national database of nation builders, the 'Shram Yogis', and help take welfare schemes to their doorstep. Mr Yadav said targeted delivery and last-mile delivery has been a major focus of the schemes of the government and the E-Shram portal is another key step towards that.

US central bankers will meet virtually for an annual gathering traditionally held in Jackson Hole in Wyoming. Jerome H. Powell, the Fed's chair, will speak on Friday and is expected to reveal details about how and when the bank plans to begin winding down its bond-buying programme. The Fed has started discussions to pull back its $120 billion a month bond-buying programme by the end of this year.