Post Session: Quick Review

After breaking out in green in previous session, local equity markets succumbed to selling pressure on last trading session of the week in absence of any major positive triggers at home front. Besides, prevailing cautiousness ahead of US jobs data to be published later during the day also kept traders on the tenterhooks. By close of trade, both Sensex and Nifty, losing around three tenths of a percent, concluded below psychologically crucial 28,500 and 8,550 levels respectively. While, broader indices staged a mixed show, with Midcap index ending in red with losses at par with larger counterparts and Smallcap index just about eking slender gains.

On the global front, Asian shares ended mostly in green on Friday ahead of the key U.S. jobs report later in the session. The U.S. nonfarm payrolls report is expected to show that employers added 230,000 new jobs last month, and the unemployment rate is seen remaining unchanged at 5.8%. European stocks rose, erasing a weekly decline, amid speculation that ECB will consider quantative easing at its January meeting and after better than forecast data on Germany factory orders. German factory orders, adjusted for seasonal swings and inflation, climbed 2.5 percent after a revised increase of 1.1 percent in September, data from the Economy Ministry in Berlin showed.

Closer home, most of the sectoral indices on BSE succumbed to selling pressure, nevertheless stocks from Information Technology (IT), Healthcare and TECK counters were the worst performers. Shares of IT majors gained ground on caution ahead of the key US jobs report while, an appreciating rupee has casted its shadow on the technology stocks. Besides, PSU stocks were down in trade as government kick-started its divestment drive with SAIL’s OFS issue.

On the flip side, stocks from Realty, FMCG and Consumer Durables counters were the top performers of the session. Nevertheless, stocks of index heavyweight, ITC also limited bourses’ losses as the stock gained for yet another session after media reports suggests that the government was reconsidering a proposal to ban sale of loose cigarettes.

Meanwhile, shares of railway-related companies, Texmaco Rail & Engineering, Titagarh Wagons, Kalindee Rail Nirman (Engineers), Kernex Microsystems (India) and Stone India ran out of steam after Union Railways Minister Suresh Prabhu said the Centre was seeking private capital investment in cash-strapped Railways to meet the resource crunch and it does not amount to privatization as the Railways unions claimed.

The overall market breadth on BSE was in the favour of advances, which thumped declines in the ratio of 1458:1178; while 105 shares remained unchanged.

Finally, the BSE Sensex plunged by 104.72 points or 0.37% and concluded at 28458.10 . The Index touched a high and a low of 28651.75 and 28409.05, respectively. The BSE Mid cap index was down by 0.26%, while the Small cap index was up by 0.03%. (Provisional)

The top gainers on the Sensex were ITC up by 2.27%, Mahindra & Mahindra up by 1.93%, Sesa Sterlite up by 1.90%, HDFC up by 0.23% and Coal India up by 0.14%. On the flip side, Dr. Reddys Lab down by 2.23%, TCS down by 2.21%, Sun Pharma down by 2.20%, Wipro down by 2.19% and Cipla down by 1.75% were the top losers. (Provisional)

On the BSE Sectoral front Realty up by 1.26%, FMCG up by 1.13%, Consumer Durables up by 0.28% and Metal up by 0.06% were the top gainers, while IT down by 1.83%, TECK down by 1.47%, Healthcare down by 1.40%, Oil & Gas down by 0.66% and PSU down by 0.56% were the top losers in the space. .(Provisional)

Meanwhile, India's domestic air traffic grew by 16.3% y-o-y in the month of October, higher than 10% growth in China, the International Air Transport Association (IATA) stated. The IATA highlighted that the significant growth in reported month reflected market stimulation by local carriers, though this was a considerable slowdown compared to September growth of 26.4%. From the beginning of the year, domestic carriers have been offering low fares through a series of discounted ticket schemes to stimulate demand. On global front, IATA stated that global domestic travel demand rose by 5.8% in October compared to the same month last year.

Domestic airlines flew 59.25 lakh passengers in October this year as compared to 50.08 lakh passengers during the same period in 2013. During January-October 2014, the number of passengers carried by domestic airlines was 550.68 lakh as against 507.03 lakh in the year-ago period. Domestic air traffic is expected to enhance in coming months as aviation turbine fuel (ATF) for domestic carriers has become 11.22% cheaper since October and is expected to see more price cuts in the next three months. Domestic carriers are likely to cut fare prices as ATF accounts for over 50% of domestic carriers' operating costs.

The civil aviation industry in India has ushered in a new era of expansion driven by factors such as low-cost carriers (LCC), modern airports, foreign direct investments (FDI) in domestic airlines, cutting edge information technology (IT) interventions and a growing emphasis on regional connectivity. Indian civil aviation industry is amongst the top 10 in the world with a size of around $16 billion. India has a vision of becoming the third largest aviation market by 2020.

The CNX Nifty  declined by 26.10 points or 0.30% to end at 8,538.30. The index touched a high and low of 8,588.35 and 8,523.90 respectively.(Provisional)

The top gainers on Nifty were DLF up by 5.34%, Ambuja Cements up by 3.02%, Mahindra & Mahindra up by 2.36%, PNB up by 2.11% and ITC up by 1.89%. On the flip side, Dr. Reddy's Laboratories down by 2.44%, Tech Mahindra down by 2.42%, TCS down by 2.39%, BPCL down by 2.33% and Wipro down by 2.29% were the top losers. .(Provisional)

European markets were trading in green, France’s CAC 40 was up by 1.34%, Germany’s DAX was up by 1.33% and United Kingdom’s FTSE 100 was up by 0.64%.

Almost all the Asian equity benchmarks barring Taiwan Weighted, ended higher on Friday, as expectations of more stimulus from central banks in Japan and China helped cushion the disappointment over the lack of clarity from European Central Bank Mario Draghi on deploying additional monetary stimulus to mitigate deflation risks. Chinese shares ended an extremely volatile session sharply higher, led by gains in financials. Japanese stocks too strengthened, as a weaker yen boosted exporter shares. The dollar rose above the 120-yen mark for the first time in seven-and-a-half years amid fresh signs of resilience in the world's largest economy.