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EQUITY
Post Session: Quick Review
Oct-21-2021

Indian equity benchmarks ended lower on Thursday. The start of the day was on a positive note, after the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1480918 new jobs in the month of August 2021. Some support came in as US Special Presidential Envoy for Climate John Kerry said India's goal of reaching 450 GW of renewable energy (RE) by 2030 is doable as it has already crossed the 100 GW RE mark.

But soon, key indices turned negative and remained lower during the trading session. Cautiousness crept in as India, the world's third-largest energy consumer and importer, warned of high oil prices hurting the nascent and fragile global economic recovery. Market participants paid no heed towards the labour ministry stating that retail inflation for farm workers and rural labourers eased to 2.89 per cent and 3.16 per cent, respectively, in September, mainly due to lower prices of certain food items.

In the last hour of the trade, markets cut some of their losses, as the revival of the Indian economy from the impasse of global pandemic gains momentum with the nationwide rapid COVID vaccination drive. According to the Ministry of Finance, India's economic recovery gained impulse in September, enthused by the ebbing of the COVID second wave, fast-paced vaccinations, and enhanced mobility, which is currently at around 90 per cent of the pre-pandemic level.

On the global front, European markets were trading lower as investors concerned about inflation and China’s economic slowdown took advantage of an earnings season rally to bank some gains.  Asian markets ended mostly lower on Thursday, even after Taiwan's export orders increased more than expected in September. The data from the Ministry of Economic Affairs showed that export orders advanced 25.7 percent year-on-year in September.

The BSE Sensex ended at 60923.50, down by 336.46 points or 0.55% after trading in a range of 60485.65 and 61621.20. There were 9 stocks advancing against 21 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.38%, while Small cap index down by 0.69%. (Provisional)

The top gaining sectoral indices on the BSE were Bankex up by 1.71%, PSU up by 0.56%, Auto up by 0.50%, Industrials up by 0.44% and Power up by 0.38%, while IT down by 2.30%, TECK down by 2.14%, Metal down by 2.03%, Energy down by 1.81% and Telecom down by 1.81% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Kotak Mahindra Bank up by 6.51%, HDFC up by 1.70%, ICICI Bank up by 1.52%, NTPC up by 1.03% and SBI up by 0.62%. On the flip side, Asian Paints down by 5.21%, Reliance Industries down by 2.85%, Infosys down by 2.59%, Dr. Reddy's Lab down by 2.29% and Tata Steel down by 2.11% were the top losers. (Provisional)

Meanwhile, the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1480918 new jobs in the month of August 2021.

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; Establishment Engaged in Manufacture, Marketing Servicing; Engineers- Engineering Contractors; Building & Construction Industry; Financing Establishment and Hospitals. In the similar age bracket, Maharashtra was the first among the States to create maximum payroll, followed by Karnataka, Gujarat, Tamil Nadu, Haryana and Delhi.

According to the data report, 7728 new jobs were created in less than 18 age group category, while 325055 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 403322, 213119, 290166 and 241528 new payrolls, respectively in August 2021.

The CNX Nifty ended at 18178.10, down by 88.50 points or 0.48% after trading in a range of 18048.00 and 18384.20. There were 19 stocks advancing against 31 stocks declining on the index. (Provisional)

The top gainers on Nifty were Kotak Mahindra Bank up by 6.37%, Tata Motors up by 4.33%, Grasim Industries up by 3.15%, BPCL up by 2.26% and HDFC up by 1.75%. On the flip side, Asian Paints down by 5.29%, Hindalco down by 3.74%, Reliance Industries down by 2.88%, Infosys down by 2.70% and Dr. Reddy's Lab down by 2.15% were the top losers. (Provisional)

European markets were trading lower, UK’s FTSE 100 decreased 26.21 points or 0.36% to 7,196.89, France’s CAC decreased 27.67 points or 0.41% to 6,677.94 and Germany’s DAX was down by 34.52 points or 0.22% to 15,488.40.

Asian markets ended mostly lower on Thursday amid rising inflation worries, while concerns over economic health for Asia also dented market sentiments. Japanese shares declined sharply on the back of Nasdaq's overnight weakness, but expectations for strong earnings results from Japanese firms limited losses. However, Chinese shares ended higher after reports that Chinese developer Evergrande Group has secured more than 3-month extension period on a defaulted $260 million bond, a day after a deal to sell a $2.6 billion stake in its property services unit failed.

Asian Indices

Last Trade           

Change in Points

Change in %    

Shanghai Composite

3,594.78
7.78
0.22

Hang Seng

26,017.53
-118.49
-0.45

Jakarta Composite

6,632.97
-23.03
-0.35

KLSE Composite

1,591.62

-14.70

-0.92

Nikkei 225

28,708.58
-546.97
-1.87

Straits Times

3,188.50
-9.58
-0.30

KOSPI Composite

3,007.33
-5.80
-0.19

Taiwan Weighted

16,889.51
1.69
0.01
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