Bourses trade in fine fettle in late afternoon session

Indian equity markets continued their fine fettle trade in late afternoon session amid positive cues from global markets. Healthcare, Power and IT counters were on the priority list of the buyers. Traders remained optimistic after Securities and Exchange Board of India (Sebi) in its latest data has showed that investment in the Indian capital markets through participatory notes (P-notes) rose to Rs 87,813 crore at the end of September, making it the second consecutive monthly increase, as the country witnesses the best growth and earnings among emerging markets. In scrip specific, Larsen & Toubro traded higher after reporting 26% rise in Q2 consolidated net profit. On the global front, Asian markets were trading mostly in green amid traders look ahead to the Federal Reserve's policy decision, hoping it will signal a more dovish approach to fighting inflation. European markets were trading higher helped by bumper earnings from energy giant BP, ahead of the start of the Federal Reserve’s latest two-day policy-setting meeting.

The BSE Sensex is currently trading at 61042.35, up by 295.76 points or 0.49% after trading in a range of 60868.69 and 61289.73. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.77%, while Small cap index was up by 0.07%.

The top gaining sectoral indices on the BSE were Healthcare up by 1.40%, Power up by 1.33%, IT up by 1.29%, Utilities up by 1.25% and TECK was up by 1.23%, while Energy down by 0.38%, Auto down by 0.19%, Oil & Gas down by 0.10% and Bankex was down by 0.02% were the few losing indices on BSE.

The top gainers on the Sensex were NTPC up by 4.22%, Sun Pharma up by 2.56%, Power Grid up by 2.04%, TCS up by 1.90% and Dr. Reddy's Lab up by 1.81%. On the flip side, Axis Bank down by 3.13%, Maruti Suzuki down by 1.16%, Reliance Industries down by 0.92%, Tata Steel down by 0.84% and ICICI Bank down by 0.37% were the top losers.

Meanwhile, Securities and Exchange Board of India (Sebi) in its latest data has showed that investment in the Indian capital markets through participatory notes (P-notes) rose to Rs 87,813 crore at the end of September, making it the second consecutive monthly increase, as the country witnesses the best growth and earnings among emerging markets.

According to the data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 87,813 crore in September compared to Rs 84,810 crore in August. In comparison, investment through this route was Rs 75,725 crore in July-end, Rs 80,092 crore in June-end, Rs 86,706 crore in May-end and Rs 90,580 crore at the end of April. Of the total Rs 87,813 crore invested through the route till September 2022, Rs 79,418 crore was invested in equities, Rs 9,156 crore in debt, and Rs 239 crore in hybrid securities. In comparison, Rs 75,389 crore was invested in equities and Rs 9,330 crore in debt during July this year.
Investment via P-notes normally moves in trend with FPI investment. When there is a global risk to the environment, investment through P-notes increases and vice- versa. P-notes are issued by registered FPIs to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.

The CNX Nifty is currently trading at 18117.80, up by 105.60 points or 0.59% after trading in a range of 18060.15 and 18175.80. There were 38 stocks advancing against 12 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 7.14%, Divi's Lab up by 5.22%, NTPC up by 4.25%, Sun Pharma up by 2.65% and Power Grid up by 2.04%. On the flip side, Axis Bank down by 3.16%, Eicher Motors down by 1.87%, Maruti Suzuki down by 1.24%, Hero MotoCorp down by 1.08% and Reliance Industries down by 0.96% were the top losers.

Asian markets are trading mostly in green, Hang Seng increased 768.25 points or 5.23% to 15,455.27, Nikkei 225 surged 91.46 points or 0.33% to 27,678.92, Taiwan Weighted strengthened 87.46 points or 0.68% to 13,037.21, Shanghai Composite gained 75.72 points or 2.62% to 2,969.20, KOSPI rose 41.61 points or 1.81% to 2,335.22 and Straits Times was up by 36.93 points or 1.19% to 3,130.04. On the flip side, Jakarta Composite was down by 46.59 points or 0.66% to 7,052.30.

European markets were trading higher, UK’s FTSE 100 increased 98.71 points or 1.39% to 7,193.24, France’s CAC increased 105.06 points or 1.68% to 6,371.83 and Germany’s DAX was up by 143.16 points or 1.08% to 13,396.90.