Bourses continue to trade with losses in late afternoon session

Local equity benchmarks continued their lackluster trade in late afternoon session. Sentiments got hit with private report that India’s trade deficit surged to $27.14 billion in October, up from $20.8 billion in September, as imports grew faster than exports. Meanwhile, inflation based on wholesale price index (WPI) in India jumped in the month of October 2024 to 2.36% from 1.84% in September 2024, due to increase in prices of food articles, crude petroleum & natural gas and electricity. On the global front, Asian markets were trading mostly in red after some Federal Reserve officials shifted investors’ attention back to inflation risks. European markets were trading mostly in green ahead of Eurozone growth data due later in the day. Earnings offered some comfort as bond yields surged amid inflation concerns under Trump's presidency. 

The BSE Sensex is currently trading at 77612.16, down by 78.79 points or 0.10% after trading in a range of 77424.81 and 78055.52. There were 6 stocks advancing against 24 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.39%, while Small cap index was up by 0.83%.

The top gaining sectoral indices on the BSE were Realty up by 0.94%, Consumer Discretionary up by 0.69%, Auto up by 0.48%, Telecom up by 0.47% and Healthcare was up by 0.31%, while FMCG down by 1.17%, Utilities down by 0.67%, PSU down by 0.66%, Oil & Gas down by 0.39% and Power was down by 0.27% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 1.53%, Kotak Mahindra Bank up by 1.17%, HDFC Bank up by 1.00%, Tech Mahindra up by 0.74% and Asian Paints up by 0.44%. On the flip side, Hindustan Unilever down by 2.51%, Power Grid down by 2.01%, NTPC down by 2.01%, Adani Ports down by 1.72% and Nestle down by 1.54% were the top losers.

Meanwhile, inflation based on wholesale price index (WPI) in India jumped in the month of October 2024 to 2.36% from 1.84% in September 2024, due to increase in prices of food articles, crude petroleum & natural gas and electricity. 

The Component wise, primary articles index, having weight of 22.62%, surged by 2.35% to 200.3 (provisional) in October,2024 from 195.7 (provisional) for the month of September 2024, on account of rise in prices of food articles and crude petroleum & natural gas in the reported month. However, the prices of minerals and non-food articles declined in October 2024 as compared to September 2024.

Fuel & Power index, having weight of 13.15%, declined by 0.27% to 146.5 (provisional) in October 2024 from 146.9 (provisional) for the month of September 2024, as prices of mineral oils and coal decreased in October 2024 as compared to September 2024. But, price of electricity witnessed surge in October 2024. 

Further, Manufactured Products constituting the major portion of the index with weight of 64.23%, increased by 0.49% to 142.5 (provisional) in October 2024 from 141.8 (provisional) for the month of September 2024. Meanwhile, for the month of August 2024, the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011- 12=100) stood at 154.4 and 1.25% respectively.

The CNX Nifty is currently trading at 23533.75, down by 25.30 points or 0.11% after trading in a range of 23486.10 and 23675.90. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Eicher Motors up by 5.68%, Hero MotoCorp up by 1.85%, Reliance Industries up by 1.53%, HDFC Life Insurance up by 1.36% and Kotak Mahindra Bank up by 1.20%. On the flip side, BPCL down by 2.93%, Tata Consumer down by 2.63%, Hindustan Unilever down by 2.59%, Britannia down by 2.56% and NTPC down by 2.16% were the top losers.

Asian markets were trading mostly in red; Hang Seng declined 387.64 points or 1.99% to 19,435.81, Nikkei 225 slipped 185.96 points or 0.48% to 38,535.70, Taiwan Weighted lost 144.85 points or 0.64% to 22,715.38, Jakarta Composite plunged 76.8 points or 1.06% to 7,231.87 and Shanghai Composite was down by 59.44 points or 1.76% to 3,379.84. On the flip side, KOSPI increased 1.78 points or 0.07% to 2,418.86 and Straits Times was up by 11.85 points or 0.32% to 3,732.19.

European markets were trading mostly in green; France’s CAC rose 17.6 points or 0.24% to 7,234.43 and Germany’s DAX was up by 122.83 points or 0.65% to 19,125.94. On the flip side, UK’s FTSE 100 was down by 1.45 points or 0.02% to 8,028.88.