HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Bourses trade at day’s low levels in late afternoon session
Dec-30-2024

Indian equity markets traded at day’s low levels in late afternoon session following weak cues from European markets. Traders overlooked report that Reserve Bank of India (RBI) latest data has showed that India's current account deficit (CAD) moderated marginally to $11.2 billion or 1.2 per cent of Gross Domestic Product (GDP) year-on-year in the July-September quarter (Q2) of 2024-25. The CAD, an indicator of the country's external payment scenario, was $11.3 billion or 1.3 per cent of GDP during the second quarter of 2023-24. Investors were looking forward to the Government Budget Value and Infrastructure Output data which going to be out on December 31. On the global front, Asian markets were trading mixed as a cautious undertone prevailed, heading into year-end. Higher U.S. Treasury yields underpinned the dollar in Asian trade while oil and gold were little changed. European markets were trading lower amid worries about the country's economic outlook and the prospect of a trade war after U.S. President-elect Donald Trump threatened sweeping tariffs on goods.

The BSE Sensex is currently trading at 78172.56, down by 526.51 points or 0.67% after trading in a range of 78142.67 and 79092.70. There were 7 stocks advancing against 23 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.64%, while Small cap index was down by 0.83%.

The only gaining sectoral indices on the BSE was Healthcare up by 0.34% and Telecom was up by 0.24%, while Metal down by 1.60%, PSU down by 1.32%, Capital Goods down by 1.17%, Auto down by 1.11% and Realty was down by 1.02% were the top losing indices on BSE.

The top gainers on the Sensex were Zomato up by 1.84%, Sun Pharma up by 1.20%, HCL Tech up by 1.05%, Tech Mahindra up by 0.48% and Indusind Bank up by 0.11%. On the flip side, Tata Motors down by 1.57%, Titan Company down by 1.34%, HDFC Bank down by 1.25%, Axis Bank down by 1.17% and Kotak Mahindra Bank down by 1.11% were the top losers.

Meanwhile, Ministry of Commerce & Industry in its latest release has showed that India's exports to its trade agreement partner Australia rose 64.4 per cent year-on-year to $643.7 million in November amid healthy growth in sectors such as textiles, chemicals and agricultural products. India and Australia implemented an interim trade pact -- Economic Cooperation and Trade Agreement (ECTA) -- on December 29, 2022 and are now in negotiations to widen the scope of the pact and make it a Comprehensive Economic Cooperation Agreement (CECA).

On the completion of two years of ECTA, Commerce and Industry Minister Piyush Goyal said that the agreement has brought with it increased market access for Indian exporters, expanded opportunities for MSMEs and farmers, and generated several employment avenues. He further added that it has also enabled growth in exports by 14 per cent in 2023-24; notable boost in IT/ITeS, business and travel services; and port-study work and work holiday visas.

Besides, Minister said ‘The expanding trade and investment ties between the two countries under the agreement reflect the growing business-to-business and people-to-people engagements. We are committed to building on the momentum that the Ind-Aus ECTA has generated and achieve the AUD 100 billion trade target by 2030.’

The CNX Nifty is currently trading at 23641.65, down by 171.75 points or 0.72% after trading in a range of 23630.60 and 23915.35. There were 11 stocks advancing against 39 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 6.79%, Sun Pharma up by 1.24%, HCL Tech up by 1.03%, Cipla up by 0.89% and Apollo Hospital up by 0.64%. On the flip side, Hindalco down by 2.46%, Wipro down by 1.76%, Tata Motors down by 1.59%, Bharat Electronics down by 1.46% and Trent down by 1.43% were the top losers.

Asian markets were trading mixed; Nikkei 225 slipped 386.62 points or 0.97% to 39,894.54, Taiwan Weighted lost 85.48 points or 0.37% to 23,190.20, Hang Seng declined 49.04 points or 0.24% to 20,041.42 and KOSPI was down by 5.28 points or 0.22% to 2,399.49. On the flip side, Shanghai Composite strengthened 7.19 points or 0.21% to 3,407.33, Straits Times rose 12.39 points or 0.33% to 3,784.02 and Jakarta Composite was up by 27.14 points or 0.38% to 7,063.71.

European markets were trading lower; UK’s FTSE 100 decreased 30.96 points or 0.38% to 8,118.82, France’s CAC fell 18.92 points or 0.26% to 7,336.45 and Germany’s DAX was down by 46.76 points or 0.23% to 19,937.56.
  RELATED NEWS >>
Most Viewed >>
December 20 , 2024
Sebi board meeting: 2 announcements for mutual
December 20 , 2024
GST Council may provide exporter status to int
December 24 , 2024
Sectoral, thematic mutual funds fetch highest
December 24 , 2024
BSE, NSE to conduct live trading on Saturday,
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.