Post Session: Quick Review

Indian equity benchmarks ended in green terrain on Tuesday’s trading session, with both the Sensex and the Nifty closing with notable gains. The start of the trading day was on a positive note, taking support with Niti Aayog vice chairman Rajiv Kumar’s statement that the government is committed to improving the ease of doing business and innovation ecosystem where every school student has access to the innovative tools and trends. Some support also came after Union Health Minister Harsh Vardhan stated that more than 100 startups have provided innovative products and solutions to overcome challenges posed by the pandemic. The street took note of report that companies raised Rs 73,215 crore from the capital markets in October, with private placement of debt instruments continuing to be the most-preferred route for funding.

Markets cut gains in late morning deals to trade volatile but in the second half of the session, indices again added gains to end higher, after Union Minister Ravi Shankar Prasad has said foreign investments and innovations are welcome but at the same time, the government is focussed on promoting Indian innovation as well as keen on the country's safety and security. Traders were seen taking a note of reports that markets regulator SEBI extended till December 24 the deadline for submission of public comments on review of the minimum public offer requirement for large issuers. In November, SEBI had put up a consultation paper on review of requirement of minimum public offer for large issuers in terms of Securities Contracts (Regulation) Rules.

On the global front, European markets were trading lower as talks between the U.K. and EU continue to yield little progress, ostensibly and time is running out to agree on a deal. Asian markets ended mixed on Tuesday, even after Japan's gross domestic product surged an annualized 22.9 percent in the third quarter of 2020. The Cabinet Office said that beat expectations for an increase of 21.5 percent following the 28.8 percent plunge in the previous three months. On a quarterly basis, GDP was up 5.0 percent - matching forecasts following the 8.2 percent decline in the three months prior. Capital expenditure was down 2.4 percent on quarter, exceeding expectations for a decline of 3.2 percent following the 4.5 percent fall in the second quarter.

The BSE Sensex ended at 45608.51, up by 181.54 points or 0.40% after trading in a range of 45335.17 and 45742.23. There were 16 stocks advancing against 14 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.16%, while Small cap index was down by 0.29%. (Provisional)

The top gaining sectoral indices on the BSE were Energy up by 1.14%, IT up by 1.09%, TECK up by 0.77%, Realty up by 0.70% and Bankex up by 0.03%, while Telecom down by 1.09%, Power down by 0.87%, Utilities down by 0.68%, Healthcare down by 0.66% and Metal down by 0.65% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Ultratech Cement up by 3.15%, TCS up by 2.21%, Reliance Industries up by 1.82%, HCL Tech. up by 1.06% and Infosys up by 0.86%. On the flip side, Sun Pharma down by 2.36%, Indusind Bank down by 2.00%, NTPC down by 1.55%, Tech Mahindra down by 1.40% and ONGC down by 1.31% were the top losers. (Provisional)

Meanwhile, underlining growth of IT and communications sectors, Union Minister Ravi Shankar Prasad has said foreign investments and innovations are welcome but at the same time, the government is focussed on promoting Indian innovation as well as keen on the country's safety and security.

The IT and Telecom Minister noted that IT and communications sectors have registered over 7 per cent growth and received one of the highest Foreign Direct Investment (FDI) even during the challenging time of COVID-19. He emphasised that digital technologies have to be safe so that ‘vested interests, extremists may not abuse it’ and added that they must also be sustainable.

Besides, Prasad said the government is focussed on ensuring that an enabling atmosphere is available for Indian minds to help create a robust 4G network as the ‘precursor’ of the 5G network.

The CNX Nifty ended at 13392.95, up by 37.20 points or 0.28% after trading in a range of 13311.05 and 13435.45. There were 20 stocks advancing against 30 stocks declining on the index. (Provisional)

The top gainers on Nifty were Ultratech Cement up by 3.19%, TCS up by 2.18%, Reliance Industries up by 1.82%, Wipro up by 1.46% and HCL Tech. up by 0.99%. On the flip side, Sun Pharma down by 2.34%, Hindalco down by 2.21%, Indusind Bank down by 1.97%, Coal India down by 1.86% and Adani Ports & SEZ down by 1.73% were the top losers. (Provisional)

European markets were trading lower, UK’s FTSE 100 decreased 7.63 points or 0.12% to 6,547.76, France’s CAC decreased 8.98 points or 0.16% to 5,564.40 and Germany’s DAX was down by 6.01 points or 0.05% to 13,264.99.

Asian markets ended mixed on Tuesday on concerns over resurgence of corona virus cases around the globe. Chinese shares ended lower on persistent worries over Sino-US tensions following reports that the United States imposed financial sanctions and travel bans on 14 high-level Chinese officials over the continuing crackdown on the opposition in Hong Kong. Meanwhile, investors are remained cautious over Brexit talks as well as US stimulus negotiations. Further, Japanese shares declined despite the announcement of a stimulus package of more than $700 billion aiming to shore up its economy threatened by surge in corona virus cases. While, Japan's economy in the July-September period grew an annualised 22.9% from the previous quarter, better than the initial estimate of a 21.4% expansion, revised data from the Cabinet Office showed.