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Bourses remain in green in late afternoon session
Dec-27-2024

The Indian benchmarks continued to trade in green in late afternoon session. Traders took support as Reserve Bank of India (RBI) in its report on Trend and Progress of Banking in India 2023-24 has said that the profitability of banks has maintained an upward momentum on the sixth consecutive year in 2023-24. It said that the profitability has continued even in the first half (H1) of financial year 2024-25, with the return of assets (RoA) at 1.4 per cent and return on equity (RoE) at 14.6 per cent. Traders would be looking forward to forthcoming January earnings season. On the global front, Asian markets were trading mixed with Japanese markets leading regional gains on yen weakness while Seoul stocks tumbled amid an ongoing political turmoil in the country. European markets were trading mostly in green as trading resumed after a two-day break for Christmas holidays.

The BSE Sensex is currently trading at 78783.60, up by 311.12 points or 0.40% after trading in a range of 78598.55 and 79043.15. There were 21 stocks advancing against 9 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.22%, while Small cap index was up by 0.41%.

The top gaining sectoral indices on the BSE were Auto up by 1.35%, Healthcare up by 0.86%, Consumer Disc up by 0.71%, FMCG up by 0.48% and IT was up by 0.25%, while Metal down by 0.81%, Oil & Gas down by 0.55%, PSU down by 0.37%, Energy down by 0.30% and Basic Materials was down by 0.27% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 2.82%, Indusind Bank up by 2.55%, Tata Motors up by 1.98%, Bajaj Finserv up by 1.36% and Bajaj Finance up by 1.29%. On the flip side, SBI down by 1.02%, Tata Steel down by 0.78%, Adani Ports down by 0.53%, HCL Tech down by 0.51% and Zomato down by 0.29% were the top losers.

Meanwhile, National e-Governance Division (NeGD) and the Indian Ports Association (IPA) have signed a landmark Memorandum of Understanding (MoU) with an aim to drive digital transformation in India’s maritime sector by integrating NeGD’s technological expertise with IPA’s in-depth insights into the maritime sector (Ports, Shipping, etc.) and logistics industries at national and international levels. 

This MoU establishes a robust framework for streamlining logistics systems, enhancing operational efficiency, and modernizing the port ecosystem. Key areas of focus include advanced software development, system integration, capacity building, and the adoption of emerging technologies.

This initiative reflects a joint commitment to creating a smarter, technology-driven maritime digital ecosystem by fostering seamless integration and stakeholder collaboration. Through this partnership, both NeGD and IPA aim to address longstanding challenges such as fragmented logistics systems, outdated operational practices, and insufficient digital infrastructure in the port and shipping sectors.

The collaboration envisions a future where ports across India are interconnected, leveraging real-time data and analytics to optimize operations, reduce turnaround time, and enhance supply chain efficiencies. This MoU strengthens India’s maritime capabilities and aligns with the national vision of becoming a global leader in the digital transformation of port operations.

The CNX Nifty is currently trading at 23841.15, up by 90.95 points or 0.38% after trading in a range of 23800.60 and 23938.85. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Mahindra & Mahindra up by 2.88%, Dr. Reddy's Lab up by 2.72%, Indusind Bank up by 2.53%, Tata Motors up by 2.01% and Eicher Motors up by 1.71%. On the flip side, Hindalco down by 1.59%, ONGC down by 1.25%, SBI down by 1.05%, Shriram Finance down by 0.83% and Tata Steel down by 0.79% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 713.1 points or 1.77% to 40,281.16, Taiwan Weighted added 28.74 points or 0.12% to 23,275.68, Straits Times rose 7.29 points or 0.19% to 3,768.74 and Shanghai Composite was up by 2.06 points or 0.06% to 3,400.14. On the flip side, Hang Seng declined 7.83 points or 0.04% to 20,090.46, KOSPI dropped 24.90 points or 1.04% to 2,404.77 and Jakarta Composite was down by 30.49 points or 0.43% to 7,035.26.

European markets were trading mostly in green; France’s CAC rose 26.46 points or 0.36% to 7,309.15 and Germany’s DAX was up by 14.86 points or 0.07% to 19,863.63. On the flip side, UK’s FTSE 100 was down by 7.41 points or 0.09% to 8,129.58.
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