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EQUITY
Post Session: Quick Review
Jan-15-2021

Indian equity benchmarks witnessed sharp fall on Friday. After a cautious start, markets remained weak during whole day, as rating agency CRISIL’s report which projected CPI Inflation at 6.4% for fiscal 2021 (FY21). It mentioned that after eight months above the Reserve Bank of India (RBI's) target band of 2-6%, Consumer Price Index (CPI) inflation was finally back in range, declining for the second straight month to a below-consensus 4.6% in December, from 6.9% in November. Average CPI inflation during April-December now measures 6.6%, down from the April-November average of 6.9%. Traders failed to took solace with report that Prime Minister Narendra Modi will launch India's Covid-19 vaccination drive tomorrow via video conferencing. This will be the world's largest vaccination programme covering the entire length and breadth of the country.

In the last hours of the trading session, key indices added more losses and ended the trading day in red terrain, on the back of negative cues from the global markets. Market participants were seen taking a note of reports that Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. He said the upcoming Budget for the fiscal year beginning April 1 should look to provide 'relief to the poorer households and small and medium enterprises.'  Meanwhile, the government has notified a modified scheme to provide financial assistance to distilleries producing first-generation ethanol from feedstocks, including cereals.

On the global front, European markets were trading lower with investors weighing increased Covid-related restrictions with the announcement of additional US stimulus. Asian markets ended mostly lower on Friday, even after the Bank of Japan upgraded its economic assessment of three out of nine regions and downgraded one. Many regions, while noting that their economy had been in a severe situation due to the impact of the novel coronavirus, there were signs of picking up. However, the impact of a resurgence of Covid-19 had been pointed out recently, primarily in the services industry, the bank noted. The bank raised the assessment of Hokuriku, Shikoku and Kyushu- Okinawa regions and lowered its view on Hokkaido. Meanwhile, assessment of all other five regions, namely Tohoku, Kanto-Koshinetsu, Tokai, Kinki and Chugoku were left unchanged.

The BSE Sensex ended at 49034.67, down by 549.49 points or 1.11% after trading in a range of 48795.79 and 49656.71. There were 4 stocks advancing against 26 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 1.25%, while Small cap index was down by 1.06%. (Provisional)

The only gaining sectoral index on the BSE was Telecom up by 3.68%, while Oil & Gas down by 2.43%, IT down by 1.93%, PSU down by 1.80%, Realty down by 1.77% and Capital Goods down by 1.72% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Bharti Airtel up by 3.84%, ITC up by 1.77%, Bajaj Auto up by 0.16% and Bajaj Finance up by 0.03%. On the flip side, Tech Mahindra down by 4.35%, HCL Tech. down by 3.73%, ONGC down by 3.48%, Asian Paints down by 2.76% and Ultratech Cement down by 2.39% were the top losers. (Provisional)

Meanwhile, Ministry of Steel in association with the Indian Steel Association (ISA) is organising the second edition of its series of webinars on Steel titled 'New Opportunities for Steel in Construction and Infrastructure”.

The webinar will focus on new opportunities for steel and fresh perspectives on steel's usage in the Construction and Infrastructure sector. Prominent industry leaders from steel, construction, and infrastructure sector will participate in the webinar.

Union Minister of Steel and Petroleum & Natural Gas, Dharmendra Pradhan expressed the hope that the webinar would provide a great platform to all the participants, delegates, and other key decision makers from the steel, construction, and other infrastructure related industries to interact on the new opportunities for steel.

The CNX Nifty ended at 14433.70, down by 161.90 points or 1.11% after trading in a range of 14357.85 and 14617.45. There were 7 stocks advancing against 43 stocks declining on the index. (Provisional)

The top gainers on Nifty were Tata Motors up by 6.20%, Bharti Airtel up by 3.81%, UPL up by 2.58%, ITC up by 1.73% and Grasim Industries up by 1.25%. On the flip side, Tech Mahindra down by 4.30%, GAIL India down by 3.82%, HCL Tech. down by 3.69%, Wipro down by 3.48% and ONGC down by 3.47% were the top losers. (Provisional)

European markets were trading lower, UK’s FTSE 100 decreased 41.29 points or 0.61% to 6,760.67, France’s CAC decreased 41.18 points or 0.72% to 5,639.96 and Germany’s DAX was down by 47.24 points or 0.34% to 13,941.46.

Asian markets ended mostly lower on Friday despite US President-elect joe Biden unveiled details of a $1.9 trillion stimulus proposal to support US households and businesses amid the corona virus pandemic. Japanese shares declined from a 30-year high hit the previous day even as tech-related shares gained after Taiwanese chipmaker TSMC posted its best-ever quarterly profit. Meanwhile, Chinese shares ended on a flat note on lingering Sino-US tensions after the US government blacklisted Chinese smartphone maker Xiaomi Corp and ten other companies over alleged military links.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,566.380.480.01

Hang Seng

28,573.8677.000.27

Jakarta Composite

6,373.41-54.91-0.85

KLSE Composite

1,627.01-8.70-0.53

Nikkei 225

28,519.18-179.08-0.62

Straits Times

3,004.874.870.16

KOSPI Composite

3,085.90-64.03-2.03

Taiwan Weighted

15,616.39-90.80-0.58
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