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Bourses turn negative, trade at day’s low
May-21-2019

Indian equity indices turned negative in late afternoon session, now trading near their intraday low points, despite firm opening of European markets. Trading sentiments got hit with Trade Promotion Council of India’s (TPCI) statement that the proposed Regional Comprehensive Economic Partnership (RCEP) agreement may hurt India's export competitiveness as the trade balance is already skewed. The street overlooked the Retirement fund body, Employment Provident Fund Organisation’s (EPFO) latest ‘Provisional Estimate of Net Payroll’ data report which showed that India created 8.15 lakh new jobs in the month of March 2019. According to the data report, 9962 new jobs were created in less than 18 age group category, while 214699 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 225727, 102408, 136990 and 125026 new payrolls respectively in March 2019.

On the global front, European markets were trading in green, as Denmark's consumer confidence grew to the highest level in eight months in May. The survey data from Statistics Denmark showed that the consumer confidence index rose to 5.9 in May from 3.7 in April. The latest score was the highest since September last year, when the confidence index was 6.9. Asian markets were also trading in green, after the US government decided to temporarily ease some trade restrictions on Huawei.

The BSE Sensex is currently trading at 38974.05, down by 378.62 points or 0.96% after trading in a range of 38972.15 and 39571.73. There were 3 stocks advancing against 28 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.96%, while Small cap index was down by 0.73%.

The only gaining sectoral indices on the BSE were Consumer Durables up by 0.52% and Energy up by 0.01%, while Auto down by 2.27%, PSU down by 2.14%, Metal down by 1.91%, Utilities down by 1.66% and Oil & Gas down by 1.57% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 0.97%, Hindustan Unilever up by 0.52% and Bajaj Finance up by 0.39%. On the flip side, Tata Motors down by 7.71%, Tata Motors - DVR down by 6.70%, Indusind Bank down by 2.83%, Mahindra & Mahindra down by 2.45% and ICICI Bank down by 2.21% 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 8.15 lakh new jobs in the month of March 2019. The job creation increased from the revised figure of 788029 in February to 814812 in March.

As per the report, the maximum jobs were created in the age bracket of 22-25 and in this bracket the top 10 sectors which have created more fresh jobs include Expert Services, Trading - Commercial Establishments, Engineers- Engineering Contractors, establishments engaged in Manufacturing- Marketing Servicing- Usage of Computers, Electric-Mechanical-or General Engineering Products, Building & Construction Industry, Financing Establishment, Hospitals, Banks Other Than Nationalised Banks and Others. 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, 9962 new jobs were created in less than 18 age group category, while 214699 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 225727, 102408, 136990 and 125026 new payrolls respectively in March 2019.

The CNX Nifty is currently trading at 11709.45, down by 118.80 points or 1.00% after trading in a range of 11700.00 and 11883.55. There were 7 stocks advancing against 43 stocks declining on the index.

The top gainers on Nifty were Dr. Reddy’s Lab up by 3.10%, Bharti Infratel up by 2.99%, Britannia up by 1.51%, Titan up by 1.36% and Hindustan Unilever up by 0.87%. On the flip side, Tata Motors down by 7.91%, BPCL down by 5.02%, Zee Entertainment down by 4.15%, Ultratech Cement down by 2.96% and Indusind Bank down by 2.92% were the top losers.

Asian markets were trading mostly in green; Taiwan Weighted gained 66.09 points or 0.64% to 10,464.50, Jakarta Composite soared 47.63 points or 0.81% to 5,954.75, Shanghai Composite gained 34.71 points or 1.21% to 2,905.31 and KOSPI was up by 5.54 points or 0.27% to 2,061.25. On the flip side, Straits Times trembled 17.18 points or 0.54% to 3,188.28, Nikkei 225 slipped 29.28 points or 0.14% to 21,272.45 and Hang Seng decreased 42.68 points or 0.15% to 27,744.93.

All European markets were trading in green; France’s CAC gained 9.03 points or 0.17% to 5,367.62, Germany’s DAX added 60.21 points or 0.50% to 12,101.50 and UK’s FTSE 100 was up by 33.73 points or 0.46% to 7,344.61.
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