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Sensex, Nifty trade in green terrain
Nov-21-2019

In highly volatile session, Indian equity benchmarks were trading in green terrain in late afternoon session. Buying at Capital Goods and Realty counters, supported the indices to hold their heads above neutral lines. Traders were seen taking relief from the retirement fund body, Employment Provident Fund Organisation’s (EPFO) latest ‘Provisional Estimate of Net Payroll’ data report showing that India created 9,98,051 new jobs in the month of September 2019 as against revised figure of 9,41,800 in August 2019. Some support also came with the Reserve Bank of India’s (RBI) latest data report that bank credit rose by 8.07 percent to Rs 98.47 trillion, while deposits grew 9.92 percent to Rs 129.98 trillion in the fortnight ended November 6.

On the global front, European markets were trading in red, as Denmark's consumer confidence fell for the third straight month in November. The survey data from Statistics Denmark showed that the consumer confidence index fell to 1.4 in November from 1.7 in October. In September, the confidence index reading was 4.3. Asian markets were also trading in red.

Back home, realty stocks were in watch, amid a private report stating that residential projects worth around $66 billion are facing bankruptcy proceedings, owing to the financial crisis and the slowdown in the real estate sector.

The BSE Sensex is currently trading at 40705.18, up by 53.54 points or 0.13% after trading in a range of 40558.54 and 40744.85. There were 10 stocks advancing against 21 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.31%, while Small cap index was down by 0.22%.

The top gaining sectoral indices on the BSE were Capital Goods up by 0.84%, Realty up by 0.78%, IT up by 0.36%, Industrials up by 0.35% and Bankex up by 0.33%, while Telecom down by 2.18%, Metal down by 1.36%, Oil & Gas down by 1.13%, Consumer Durables down by 0.86% and Energy down by 0.78% were the top losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 1.69%, Hindustan Unilever up by 1.42%, ICICI Bank up by 1.26%, SBI up by 1.10% and Bajaj Auto up by 0.87%. On the flip side, Bharti Airtel down by 2.85%, Tata Steel down by 1.79%, ONGC down by 1.72%, ITC down by 1.60% and NTPC down by 1.45% were the top losers.

Meanwhile, the Retirement fund body, Employment Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 9,98,051 new jobs in the month of September 2019 as against revised figure of 9,41,800 in August 2019.

As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top sectors which have created more fresh jobs include Expert Services, Trading - Commercial Establishments, Establishments engaged in Manufacturing- Marketing Servicing & Usage of Computers, Electric-Mechanical-or General Engineering Products, Engineers- Engineering Contractors, Building & Construction Industry, Financing Establishment, Hospitals and Heavy - Fine Chemicals. In the similar age bracket, Maharashtra was the first among the States to create maximum payroll, followed by Karnataka, Gujarat, Tamil Nadu, Delhi and Telangana.

According to the data report, 6251 new jobs were created in less than 18 age group category, while 268817 jobs in 18-21 age group category. Further, 22-25 age, 26-28 age, 29-35 age and more than 35 age group category witnessed 276718, 126065, 170893 and 149307 new payrolls, respectively in September 2019.

The CNX Nifty is currently trading at 12005.65, up by 6.55 points or 0.05% after trading in a range of 11965.05 and 12028.20. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Zee Entertainment up by 11.17%, Eicher Motors up by 1.91%, Larsen & Toubro up by 1.71%, Hindustan Unilever up by 1.57% and Adani Ports & SEZ up by 1.49%. On the flip side, BPCL down by 3.45%, Bharti Airtel down by 2.71%, Coal India down by 2.19%, GAIL India down by 1.97% and Tata Steel down by 1.83% were the top losers.

All Asian markets were trading lower; Hang Seng decreased 428.90 points or 1.6% to 26,460.71, Taiwan Weighted dropped 72.93 points or 0.63% to 11,558.27, Shanghai Composite declined 14.61 points or 0.5% to 2,896.44, Jakarta Composite lost 51.17 points or 0.83% to 6,103.94, KOSPI fell 28.72 points or 1.35% to 2,096.60, Straits Times trembled 25.32 points or 0.78% to 3,204.46 and Nikkei 225 slipped 109.99 points or 0.48% to 23,038.58.

All European markets were trading in red; FTSE lost 50.75 points or 0.70% to 7,211.74, CAC fell 42.12 points or 0.71% to 5,851.91 and DAX was down by 68.95 points or 0.52% to 13,089.19.
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