Midday Review

Date Heading Details
27-Nov-2020   14:46 Hrs IST Local equities trade marginally lower in late afternoon session <p align="justify">Local equities traded marginally lower in late afternoon session despite positive global cues. Traders were cautious even after SBI Ecowrap in its latest report has showed that the Goods and Services Tax (GST) collections are likely to be 10-month high of Rs 1.08 lakh crore in November as compared to Rs 1.05 lakh crore in October 2020. According to the report, the November 2020 collections will be very close to January 2020 collections (Rs 1.10 lakh crore). It said that the continued improvement in GST is mainly due to traction in economic activities and services in festive month of November. On the global front, all Asian markets are trading higher heading into the weekend on a strong note with investors continuing to take heart from the prospect of vaccines being rolled out in the next few weeks. European markets were trading mostly in green.<p align="justify">The BSE Sensex is currently trading at 44224.59, down by 35.15 points or 0.08% after trading in a range of 44071.61 and 44407.28. There were 18 stocks advancing against 12 stocks declining on the index.<p align="justify">The broader indices were trading in green; the BSE Mid cap index gained 1.81%, while Small cap index was up by 1.71%.<p align="justify">The top gaining sectoral indices on the BSE were Realty up by 2.17%, Auto up by 2.08%, Consumer Durables up by 1.87%, Utilities up by 1.84% and Consumer Discretionary was up by 1.49%, while IT down by 0.43%, TECK down by 0.37%, Energy down by 0.23% and Telecom was down by 0.17% were the few losing indices on BSE.<p align="justify">The top gainers on the Sensex were Bajaj Auto up by 2.91%, Asian Paints up by 1.58%, Titan Company up by 1.55%, Tech Mahindra up by 1.20% and Tata Steel up by 1.16%. On the flip side, Power Grid by 1.49%, TCS down by 1.35%, HCL Tech down by 1.32%, ONGC down by 1.12% and Ultratech Cement down by 1.06% were the top losers.<p align="justify">Meanwhile, amid improved economic activities, the SBI Ecowrap in its latest report has showed that the Goods and Services Tax (GST) collections are likely to be 10-month high of Rs 1.08 lakh crore in November as compared to Rs 1.05 lakh crore in October 2020.<p align="justify">According to the report, the November 2020 collections will be very close to January 2020 collections (Rs 1.10 lakh crore). It said that the continued improvement in GST is mainly due to traction in economic activities and services in festive month of November.<p align="justify">Besides, the yearly SBI Composite Index has now reached a 19-month high of 53.9 (Moderate Growth) in November 2020, compared to 53.0 (Moderate Growth) in October 2020, and 50.8 (Low Growth) in November 2019. Further, the monthly index touched the all-time high of 62.1 (High Growth) in November, compared to 59.3 (High Growth) in October and 49.96 (Low Growth) in November.<p align="justify">The CNX Nifty is currently trading at 12969.25, down by 17.75 points or 0.14% after trading in a range of 12945.20 and 13035.30. There were 25 stocks advancing against 25 stocks declining on the index.<p align="justify">The top gainers on Nifty were Tata Motors up by 4.46%, Bajaj Auto up by 2.49%, Hero MotoCorp up by 2.01%, Britannia up by 1.69% and Titan Company up by 1.55%. On the flip side, HDFC Life Insurance down by 2.17%, Power Grid down by 1.47%, TCS down by 1.46%, HCL Tech down by 1.37% and JSW Steel down by 1.32% were the top losers.<p align="justify">All Asian markets are trading higher, Nikkei 225 surged 107.40 points or 0.4% to 26,644.71, Hang Seng increased 75.23 points or 0.28% to 26,894.68, Shanghai Composite gained 38.58 points or 1.14% to 3,408.31, Jakarta Composite soared 23.42 points or 0.41% to 5,783.34, Taiwan Weighted strengthened 21.43 points or 0.15% to 13,867.09, KOSPI rose 7.54 points or 0.29% to 2,633.45 and Straits Times was up by 6.89 points or 0.24% to 2,864.37.<p align="justify">European markets were trading mostly in green, France's CAC increased 9.33 points or 0.17% to 5,576.12, Germany's DAX increased 23.64 points or 0.18% to 13,310.21. On the flip side, UK's FTSE 100 was up by 59.49 points or 0.93% to 6,303.44.<p align="justify">&nbsp;</p>
27-Nov-2020   12:44 Hrs IST Benchmarks trade flat in afternoon session <p align="justify">Indian benchmarks traded flat in afternoon session, with Sensex losing 52 points, while Nifty was up by 5 points. Traders were seen in selling position for IT, energy and TECK stocks, while buying was witnessed in realty, auto and utilities stocks. Traders were concerned as SBI Research in its latest report has stated that India's GDP likely contracted 10.7% in the second quarter, with a further recovery likely in the third quarter, citing improvements in economic indicators over October and November. However, some solace came as SBI Ecowrap stated that riding high on improved economic activities the Goods and Services Tax (GST) collections in November is projected to be 10-month high of Rs 1.08 lakh crore as compared to Rs 1.05 lakh crore in October 20. On the global front, Asian markets were trading higher despite concerns about the efficacy of AstraZeneca's highly-anticipated coronavirus vaccine. Back on street, shares of Manappuram Finance were in focus as the manager of a branch of Manappuram Finance has been detained in connection with the robbery of gold and valuables, worth around Rs 20 crore, from a branch of IIFL in Cuttack.</p><p align="justify">The BSE Sensex is currently trading at 44207.51, down by 52.23 points or 0.12% after trading in a range of 44071.61 and 44407.28. There were 17 stocks advancing against 13 stocks declining on the index.</p><p align="justify">The broader indices were trading in green; the BSE Mid cap index rose 2.01%, while Small cap index was up by 1.60%.</p><p align="justify">The top gaining sectoral indices on the BSE were Realty up by 3.07%, Auto up by 2.24%, Utilities up by 1.95%, Consumer Discretionary up by 1.52% and Industrials was up by 1.46%, while IT down by 0.37%, Energy down by 0.34% and TECK was down by 0.23% were top the losing indices on BSE.</p><p align="justify">The top gainers on the Sensex were Bajaj Auto up by 3.44%, Tata Steel up by 1.78%, Titan Company up by 1.62%, Sun Pharma up by 1.58% and NTPC was up by 1.28%. On the flip side, Power Grid down by 1.77%, HCL Tech down by 1.45%, HDFC down by 1.36%, TCS down by 1.12% and SBI was down by 0.84% were the top losers.</p><p align="justify">Meanwhile, Union Minister Jitendra Singh has said that India will play a lead role in rebuilding economy in the post-COVID era and the way the country's scientific community rose to the challenge of the pandemic is a testimony to this.&nbsp; He said the government's continuous focus on innovation and skilling will go a long way in the holistic development of the country.</p><p align="justify">Dwelling on the importance of harnessing of space technology for greater common good, the minister said though India was a late starter in the space journey, in the last four-five years, space technology has become part of infrastructure building and promotion and its benefits have reached every household. He referred to some of the path-breaking historic reforms in the Department of Space under the leadership of Prime Minister Narendra Modi, saying possibly for the first time in the history of Independent India, future projects for planetary exploration, outer space travel etc. will be open for the private sector.</p><p align="justify">Singh said this is also a part of the Modi government's ‘Atma Nirbhar' roadmap towards self-reliant India, which envisages the initiative to boost private sector participation in space activities. He noted that private companies will be provided a level playing field in satellite launches and space-based activities. He also said with the creation of Indian National Space Promotion and Authorisation Centre (IN-SPACe), there will be a mechanism in place and the private sector will be allowed to use ISRO's facilities and other relevant assets to improve their capacities.</p><p align="justify">The CNX Nifty is currently trading at 12992.60, up by 5.60 points or 0.04% after trading in a range of 12945.20 and 13035.30. There were 31 stocks advancing against 19 stocks declining on the index.</p><p align="justify">The top gainers on Nifty were Tata Motors up by 5.44%, Bajaj Auto up by 3.41%, Eicher Motors up by 2.37%, Tata Steel up by 2.23% and Britannia Industries was up by 1.72%. On the flip side, HDFC Life Insurance down by 1.82%, Power Grid down by 1.77%, HCL Tech down by 1.48%, HDFC down by 1.33% and TCS was down by 1.17% were the top losers.</p><p align="justify">All Asian markets were trading firm; KOSPI rose 7.54 points or 0.29% to 2,633.45, Shanghai Composite gained 8.94 points or 0.27% to 3,378.67, Taiwan Weighted strengthened 21.43 points or 0.15% to 13,867.09, Hang Seng increased 127.16 points or 0.47% to 26,946.61, Nikkei 225 surged 107.40 points or 0.4% to 26,644.71, Jakarta Composite soared 22.25 points or 0.39% to 5,782.17 and Straits Times was up by 6.08 points or 0.21% to 2,863.56.</p>
27-Nov-2020   12:04 Hrs IST Sensex, Nifty remain below neutral lines in late morning deals
27-Nov-2020   11:03 Hrs IST Benchmarks continue lackluster trade slightly in red
27-Nov-2020   09:58 Hrs IST Benchmarks trade lower with marginal cut in early deals
26-Nov-2020   14:46 Hrs IST Equity markets turn positive in late afternoon session
26-Nov-2020   12:48 Hrs IST Benchmarks extend losses in afternoon session
26-Nov-2020   11:56 Hrs IST Weak trade continues over Dalal Street in late morning session
26-Nov-2020   11:05 Hrs IST Benchmarks continue lackluster trade slightly in red
26-Nov-2020   09:59 Hrs IST Markets trade tad lower in early deals