Indian equity benchmarks ended with notable gains on Monday’s trading session. The start of the day was on a positive note, taking support with Industry body FICCI's latest quarterly survey on manufacturing showing that India's manufacturing sector is poised to witness recovery in the July-September quarter, even as hiring outlook for the segment remains bleak. The proportion of respondents reporting higher output during July-September rose to 24 per cent, as compared to 10 per cent in the previous quarter. Some support also came with report that Foreign Portfolio Investors (FPI) have continued to buy domestic equities and debt instruments. So far in November FPIs have bought Rs 44,378 crore worth of stocks and Rs 5,175 crore worth of debt.
In morning deals, key indices turned volatile, as some concern came with report that as many as 437 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of over Rs 4.37 lakh crore. But, markets added gains in afternoon deals to close trading session higher, after a senior official of the Ministry of External Affairs said that Atmanirbhar Bharat provides a vision of India's plans to become a USD 5 trillion economy by promoting 'Make in India - Make for World' and this will happen through an integration with the global economy.
On the global front, European markets were trading higher boosted by positive vaccine news from AstraZeneca (AZN.L) and the University of Oxford. Asian markets ended in green, after Singapore's gross domestic product climbed a seasonally adjusted 9.2 percent on quarter in the third quarter of 2020. The Ministry of Trade and Industry said in Monday's final reading, that was an upward revision from last month's preliminary reading of 7.9 percent following the 13.2 percent drop in the three months prior. On a yearly basis, GDP was revised up to -5.8 percent from the preliminary reading of 7.0 percent following the 13.3 percent drop in the previous three months.
The BSE Sensex ended at 44077.15, up by 194.90 points or 0.44% after trading in a range of 43747.22 and 44271.15. There were 20 stocks advancing against 10 stocks declining on the index. (Provisional)
The broader indices ended in green; the BSE Mid cap index was up by 1.25%, while Small cap index was up by 1.37%. (Provisional)
The top gaining sectoral indices on the BSE were IT up by 2.89%, Oil & Gas up by 2.68%, Energy up by 2.61%, TECK up by 2.31% and Healthcare up by 1.72%, while Telecom down by 0.87%, Bankex down by 0.77% and Consumer Durables down by 0.64% were the only losing indices on BSE. (Provisional)
The top gainers on the Sensex were ONGC up by 6.84%, Indusind Bank up by 4.79%, Infosys up by 3.37%, Tech Mahindra up by 3.33% and Bajaj Finserv up by 2.78%. On the flip side, HDFC down by 3.55%, ICICI Bank down by 2.48%, Axis Bank down by 1.99%, SBI down by 1.69% and Mahindra & Mahindra down by 1.50% were the top losers. (Provisional)
Meanwhile, the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1490285 new jobs in the month of September 2020 as against revised figure of 880686 in August 2020.
As per the report, the maximum jobs were created in the age bracket of more than 35 and in this bracket the top sectors which have created more fresh jobs include Expert Services; Building & Construction Industry; Engineers- Engineering Contractors; Establishments Engaged in Cleaning, Sweeping Services; Societies Clubs or Associations; School; Trading - Commercial Establishments and General Insurance. In the similar age bracket, Maharashtra was the first among the States to create maximum payroll, followed by Bihar, Gujarat, Haryana, Uttar Pradesh and Telangana.
According to the data report, 8721 new jobs were created in less than 18 age group category, while 289764 jobs in 18-21 age group category. Further, 22-25 age, 26-28 age, 29-35 age and more than 35 age group category witnessed 334440, 175815, 291328 and 390217 new payrolls, respectively in September 2020.
The CNX Nifty ended at 12926.45, up by 67.40 points or 0.52% after trading in a range of 12825.70 and 12968.85. There were 36 stocks advancing against 14 stocks declining on the index. (Provisional)
The top gainers on Nifty were ONGC up by 6.77%, Indusind Bank up by 4.78%, GAIL India up by 3.54%, Dr. Reddy’s Lab up by 3.38% and Tech Mahindra up by 3.37%. On the flip side, HDFC down by 3.60%, ICICI Bank down by 2.49%, Axis Bank down by 2.02%, SBI down by 1.67% and SBI Life Insurance down by 1.64% were the top losers. (Provisional)
European markets were trading higher, UK’s FTSE 100 increased 18.92 points or 0.3% to 6,370.37, France’s CAC increased 42.03 points or 0.76% to 5,537.92 and Germany’s DAX was up by 143.88 points or 1.1% to 13,281.13.
Asian markets ended higher on Monday as optimism around progress in Covid-19 vaccine trials shrugged off reports of renewed lockdowns in several countries. Chinese shares ended up after the country's financial regulators vowed to adopt a zero-tolerance approach for misconduct following a recent string of bond defaults, and will punish all kinds of debt evasion to protect investors. Further, South Korean shares climbed after data showed that South Korea's exports rose 11.1% YoY in the first 20 days of November, with outbound shipments of memory chips soaring 21.9% over the cited period. Markets in Japan were closed for the Labor Thanksgiving Day.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,414.49 | 36.76 | 1.09 |
Hang Seng | 26,486.20 | 34.66 | 0.13 |
Jakarta Composite | 5,652.76 | 81.10 | 1.46 |
KLSE Composite | 1,597.48 | 3.73 | 0.23 |
Nikkei 225 | -- | -- | -- |
Straits Times | 2,848.78 | 35.77 | 1.27 |
KOSPI Composite | 2,602.59 | 49.09 | 1.92 |
Taiwan Weighted | 13,878.01 | 161.57 | 1.18 |
