Indices extend gains in late afternoon session

Key benchmark indices extended their gains in the late afternoon session on account of buying in front line counters. The sentiment remained largely positive as the Securities and Exchange Board of India (SEBI) in its latest data report has showed that investments through participatory notes (P-notes) in the Indian capital market rose to a 27-month high of Rs 83,114 crore at November-end. According to the report, the value of P-note investments in Indian markets - equity, debt, hybrid securities and derivatives - increased to Rs 83,114 crore at November-end from Rs 78,686 crore at October-end. Traders overlooked India’s merchandise exports fell 8.74% to $23.52 billion in November 2020 as compared to same period of last year, on account of contraction in shipments of key sectors like petroleum, engineering, chemicals and gems and jewellery. Trade deficit, gap between imports and exports, narrowed to $9.87 billion in November 2020 as compared to $ 12.75 billion in the corresponding month a year ago.

On the global front, Asian markets were trading mostly in green as hopes of effective coronavirus vaccines and the growing prospect of more U.S. fiscal stimulus cheered investors ahead of the Christmas holiday season. European markets were trading higher on rising hopes of a Brexit trade deal and the possible roll-out of a COVID-19 vaccine in the continent before the New Year.

The BSE Sensex is currently trading at 46691.55, up by 428.38 points or 0.93% after trading in a range of 46402.20 and 46693.93. There were 23 stocks advancing against 7 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.89%, while Small cap index was up by 1.08%.

The top gaining sectoral indices on the BSE were Realty up by 5.80%, Consumer Durables up by 2.23%, Metal up by 1.69%, Capital Goods up by 1.56% and Consumer Discretionary was up by 1.34%, while there were no looser on sectoral indices on the BSE.

The top gainers on the Sensex were HDFC up by 3.74%, Titan Company up by 2.39%, Larsen & Toubro up by 2.09%, ONGC up by 2.04% and Mahindra & Mahindra up by 1.84%. On the flip side, NTPC down by 0.80%, ICICI Bank down by 0.67%, Tech Mahindra down by 0.55%, Ultratech Cement down by 0.45% and HCL Tech. down by 0.24% were the top losers.

Meanwhile, amid continued liquidity and improvement in second quarter corporate earnings, the Securities and Exchange Board of India (SEBI) in its latest data report has showed that investments through participatory notes (P-notes) in the Indian capital market rose to a 27-month high of Rs 83,114 crore at November-end.

According to the report, the value of P-note investments in Indian markets - equity, debt, hybrid securities and derivatives - increased to Rs 83,114 crore at November-end from Rs 78,686 crore at October-end. The investment through this route had declined to Rs 69,821 crore at the end of September 2020.

Meanwhile, the investment level was at Rs 74,027 crore, Rs 63,228 crore, Rs 62,138 crore, Rs 60,027 crore and Rs 57,100 crore at the end of August, July, June, May and April, respectively.

The CNX Nifty is currently trading at 13686.10, up by 118.25 points or 0.87% after trading in a range of 13606.45 and 13688.20. There were 39 stocks advancing against 10 stocks declining on the index, while 1 stock remains unchanged.

The top gainers on Nifty were HDFC up by 3.95%, Titan Company up by 2.47%, Tata Motors up by 2.24%, Divis Lab up by 2.20% and Larsen & Toubro up by 2.14%. On the flip side, NTPC down by 0.80%, ICICI Bank down by 0.63%, Tech Mahindra down by 0.57%, Ultratech Cement down by 0.56% and Eicher Motors down by 0.55% were the top losers.

Asian markets were trading mostly in green, Hang Seng increased 253.00 points or 0.97% to 26,460.29, Taiwan Weighted strengthened 235.94 points or 1.68% to 14,304.46, Jakarta Composite soared 108.27 points or 1.8% to 6,118.40, Nikkei 225 surged 69.56 points or 0.26% to 26,757.40, KOSPI rose 14.97 points or 0.54% to 2,771.79 and Straits Times was up by 11.48 points or 0.4% to 2,868.20. On the flip side, Shanghai Composite was down by 0.25 points or 0.01% to 3,366.98.

European markets were trading higher; UK’s FTSE 100 increased 65.76 points or 1.01% to 6,579.08, France’s CAC increased 53.44 points or 0.97% to 5,583.75 and Germany’s DAX was up by 174.96 points or 1.31% to 13,537.83.