HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Bourses trade at day’s low levels in late afternoon session
Nov-13-2024

Indian equity markets have magnified their losses in late afternoon session. Currently, markets traded at day’s low levels. The broader indices, the BSE Mid cap index and Small cap index traded with cut of over two percent.  Traders were concerned as a rise in October retail inflation reduced expectations of a rate cut by the Reserve Bank of India (RBI) next month. Investors overlooked the report that Export Import Bank of India has said that India's merchandise exports are likely to grow 1.85 per cent to $107.5 billion in the October-December period of 2024. The non-oil exports will grow 7.39 per cent to $91.7 billion.

On the global front, Asian markets were trading mostly in red as investors fretted about the impact of U.S. President-elect Trump's proposed tariffs on inflation and interest rates. European markets were trading higher as investors reacted to upbeat earnings news and awaited U.S. consumer price inflation data later in the day for directional cues. 

The BSE Sensex is currently trading at 77830.03, down by 845.15 points or 1.07% after trading in a range of 77800.09 and 78690.02. There were 2 stocks advancing against 27 stocks declining on the index, while 1 stock remained unchanged. 

The broader indices were trading in red; the BSE Mid cap index declined 2.46%, while Small cap index was down by 2.89%.

The top losing sectoral indices on the BSE were Realty down by 3.50%, Industrials down by 2.83%, Metal down by 2.75%, Capital Goods down by 2.62% and Basic Materials was down by 2.57%, while there were no gaining sectoral indices on the BSE. 

The few gainers on the Sensex were NTPC up by 1.04% and Hindustan Unilever was up by 0.12%. On the flip side, Tata Steel down by 3.71%, Mahindra & Mahindra down by 3.12%, JSW Steel down by 2.82%, Adani Ports &Special down by 2.46% and SBI was down by 1.91% were the top losers.

Meanwhile, revealing significant growth in patent, trademark, and industrial design applications across top economies, the World Intellectual Property Organization (WIPO) in its latest report ‘the World Intellectual Property Indicators (WIPI) 2024’ has said that India has secured a spot in the global top 10 for all three major intellectual property (IP) rights - patents, trademarks, and industrial designs.

The report also stated that India continues to solidify its place as a global leader in the intellectual property landscape by showing substantial progress and marking new milestones in IP activity. India recorded the fastest growth in patent (+15.7%) applications in 2023 among the top 20 origins, marking the fifth consecutive year of double-digit growth. 

Further, India ranks sixth globally for patents with 64,480 applications, with resident filings accounting for over half of all submissions (55.2%) - a first for the country. The patent office also granted 149.4% more patents in 2023 compared to the previous year, underlining the country’s fast-evolving IP ecosystem. The report indicates a steady rise (36.4%) in India’s industrial design applications, which aligns with increasing emphasis on product design, manufacturing, and creative industries within India. 

As per the report, India ranked fourth globally in trademark filings, with a 6.1% increase in 2023. Nearly 90% of these filings were by residents, with key sectors including Health (21.9%), Agriculture (15.3%), and Clothing (12.8%) leading the way. India’s trademark office holds the second-largest number of active registrations worldwide, with over 3.2 million trademarks in force, reflecting the country’s strong position in global brand protection.

The CNX Nifty is currently trading at 23575.90, down by 307.55 points or 1.29% after trading in a range of 23570.00 and 23873.60. There were 3 stocks advancing against 47 stocks declining on the index.

The top gainers on Nifty were NTPC up by 0.99%, Britannia up by 0.14% and Hindustan Unilever up by 0.12%. On the flip side, Hero MotoCorp down by 4.48%, Hindalco down by 4.16%, Tata Steel down by 3.73%, Eicher Motors down by 3.63% and Mahindra & Mahindra down by 3.43% were the top losers.
  RELATED NEWS >>
Most Viewed >>
November 12 , 2024
Equity fund inflows surge 21% to Rs.41,887 cro
November 13 , 2024
Arbitrage funds: Tax-friendly debt alternative
November 13 , 2024
29 mutual fund NFOs raise Rs 6,078 crore in Oc
November 13 , 2024
What are banking and financial service sectora
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.