HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Benchmarks trim some losses in late afternoon session
Apr-15-2021

Key benchmark indices trimmed most of their losses in late afternoon session, but continued to trade below the neutral lines. The broader indices, BSE Mid cap index and Small cap index are also trading in red. Investors maintained cautious approach, as wholesale price-based inflation shot up to over 8-year high of 7.39 per cent in March on rising crude oil and metal prices. Also, the low base of March last year, when the data was computed with a low response rate due to the nationwide lockdown, contributed to a spike in inflation in March 2021. However, downside remain capped, as Ministry of Finance in its latest report has showed that fund raising in FY 2020-21 was better than that in FY 2019-20 for both Public Issues and Rights Issues, despite the uncertainty prevailing in FY 2020-21 owing to COVID-19 pandemic. On the global front, Asian markets were trading mostly in green as investors put the brakes on a recent rally that has some worried valuations may have run a little too high. European markets were trading higher, as a rally in commodity prices lifted miners, while some positive earnings reports offset worries about the pace of COVID-19 vaccination in the continent.

The BSE Sensex is currently trading at 48513.30, down by 30.76 points or 0.06% after trading in a range of 48010.55 and 48686.17. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.25%, while Small cap index was down by 0.08%.The top gaining sectoral indices on the BSE were Metal up by 1.53%, Bankex up by 0.96%, Telecom up by 0.81%, Power up by 0.79% and Healthcare was up by 0.79%, while Auto down by 1.54%, Consumer Discretionary down by 0.94%, FMCG down by 0.55%, IT down by 0.53% and Capital Goods was down by 0.52% were the top losing indices on BSE.

The top gainers on the Sensex were ICICI Bank up by 2.66%, ONGC up by 2.50%, TCS up by 2.29%, HDFC Bank up by 1.70% and Dr. Reddys up by 1.12%. On the flip side, Maruti Suzuki down by 3.15%, Infosys down by 3.08%, Indusind Bank down by 2.31%, Ultratech Cement down by 2.24% and Nestle down by 1.94% were the top losers.

Meanwhile, the Ministry of Finance in its latest report has showed that fund raising in FY 2020-21 was better than that in FY 2019-20 for both Public Issues and Rights Issues, despite the uncertainty prevailing in FY 2020-21 owing to COVID-19 pandemic.

As per the report, during FY 2020-21, Rs. 46,029.71 crore and Rs. 64,058.61 crore were raised through Public Issues and Rights Issue respectively, as against Rs. 21,382.35 crore and Rs. 55,669.79 crore raised last year. This is an increase of 115% and 15% respectively in FY 2020-21 as compared to last year.

The report further noted that around 2003 issues of Corporate Bonds for an amount of Rs. 7,82,427.39 crore happened in FY 2020-21, surpassing the amount raised (Rs 6,89,686.19 crore) through 1,821 issues for the fiscal year 2019-20. Thus, while the number of issues increased by 10% in FY 2020-21, the amount raised increased by 13.5% as compared to the previous financial year.

The CNX Nifty is currently trading at 14485.55, down by 19.25 points or 0.13% after trading in a range of 14353.20 and 14566.80. There were 18 stocks advancing against 32 stocks declining on the index.

The top gainers on Nifty were Cipla up by 2.94%, Wipro up by 2.84%, Tata Steel up by 2.67%, ONGC up by 2.65% and ICICI Bank up by 2.65%. On the flip side, Grasim Industries down by 3.66%, Eicher Motors down by 3.60%, Maruti Suzuki down by 2.99%, Infosys down by 2.88% and Ultratech Cement down by 2.16% were the top losers.

Asian markets were trading mostly in green, Taiwan Weighted strengthened 210.76 points or 1.25% to 17,076.73, Jakarta Composite soared 29.22 points or 0.48% to 6,079.50, Nikkei 225 surged 21.70 points or 0.07% to 29,642.69, KOSPI rose 11.95 points or 0.38% to 3,194.33 and Straits Times was up by 6.23 points or 0.2% to 3,185.62. On the flip side, Shanghai Composite declined 17.73 points or 0.52% to 3,398.99 and Hang Seng was down by107.69 points or 0.37% to 28,793.14.

European markets were trading higher, UK’s FTSE 100 increased 32.36 points or 0.47% to 6,971.94, France’s CAC increased 12.33 points or 0.2% to 6,220.91 and Germany’s DAX was up by 49.57 points or 0.33% to 15,258.72.
  RELATED NEWS >>
Most Viewed >>
April 22 , 2024
Invest lumpsum through systematic transfer pla
April 22 , 2024
FPIs mount bearish bets as risk aversion grows
April 23 , 2024
Small, midcap funds remain mutual fund investo
April 23 , 2024
Sensex climbs 560 points, Nifty closes above 2
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.