Post Session: Quick Review

Indian equity benchmarks ended in red on Friday’s trading session. Markets made a positive start of the trading day, as commerce and industry ministry said India’s electronic goods exports grew 49% in April-December 2021 at $11 billion over $7.4 billion during same period last year with the US and the UAE being the top two destinations. Sentiments were upbeat as Deputy Governor Michael Patra stated that Reserve Bank of India (RBI) remains committed to revive and sustain growth and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within target.

Indices remained higher for the most part of the trading session, as traders got relief, after former RBI Governor D Subbarao said that the upcoming Budget should focus on creating jobs and bridging the widened inequality in the economy besides accelerating growth, while observing that given the continuing need to raise spending on education, health, and infrastructure, there is not much leeway for tax cuts. Besides, demanding 'one nation, one pension' scheme, an employees' organisation has asked the Centre to consider changes in the National Pension System (NPS) to ensure socio-economic security of lakhs of employees. However, in the last hours of the trade, markers cut gains and ended lower.

On the global front, European markets were trading lower amid risk-off sentiment driven by the prospects of higher interest rates and geopolitical tensions in Ukraine, while a few upbeat earnings capped losses. Asian markets ended mixed, after the manufacturing sector in Taiwan continued to expand in January, albeit at a slower pace, the latest survey from Markit Economics revealed on Friday with a manufacturing PMI score of 55.1. That's down from 55.5 in December, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The BSE Sensex ended at 57200.23, down by 76.71 points or 0.13% after trading in a range of 57119.28 and 58084.33. There were 15 stocks advancing against 15 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 1.02%, while Small cap index up by 1.07%. (Provisional)

The top gaining sectoral indices on the BSE were Healthcare up by 1.10%, Basic Materials up by 0.90%, IT up by 0.88%, Telecom up by 0.87% and TECK up by 0.78%, while Bankex down by 0.75%, Auto down by 0.64%, Capital Goods down by 0.14% and Consumer Durables down by 0.11% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were NTPC up by 3.89%, Sun Pharma up by 1.85%, Indusind Bank up by 1.72%, Mahindra & Mahindra up by 1.38% and Wipro up by 1.37%. On the flip side, Maruti Suzuki down by 2.99%, Tech Mahindra down by 2.43%, Power Grid down by 2.14%, ICICI Bank down by 1.62% and Axis Bank down by 1.08% were the top losers. (Provisional)

Meanwhile, Credit rating agency, India Ratings and Research (Ind-Ra) in its pre-budget report has said that the forthcoming budget needs to delay fiscal consolidation, instead should focus more on supporting the pandemic battered-economy and boost consumption demand by offering income tax soaps and cutting fuel taxes.

Ind-Ra is also expecting the new budget to consolidate and strengthen the plan set out in the last budget, rather than trying out new things by continue with the revenue and capital expenditure pattern of FY'22 to provide stability and consolidation to the past/ongoing efforts, and to focus on boosting demand by generating employment opportunities in areas/sectors that have been impacted more by the pandemic.

Calling for tax reliefs to households to boost demand as the purchasing power of households was badly hit since the pandemic, the report said this could be done through some income tax reliefs and lowering taxes on oil products as higher fuel prices has been driving up inflation.

The CNX Nifty ended at 17101.95, down by 8.20 points or 0.05% after trading in a range of 17077.10 and 17373.50. There were 30 stocks advancing against 20 stocks declining on the index. (Provisional)

The top gainers on Nifty were NTPC up by 3.81%, UPL up by 2.37%, Sun Pharma up by 1.88%, ONGC up by 1.87% and Indusind Bank up by 1.74%. On the flip side, Maruti Suzuki down by 3.05%, Tech Mahindra down by 2.42%, Power Grid down by 2.16%, ICICI Bank down by 1.70% and Hero MotoCorp down by 1.58% were the top losers. (Provisional)

European markets were trading lower, UK’s FTSE 100 decreased 47.22 points or 0.63% to 7,507.09, France’s CAC decreased 48.44 points or 0.69% to 6,975.36 and Germany’s DAX was down by 206.23 points or 1.33% to 15,318.04.

Asian markets ended mixed on Friday. Seoul shares gained after the release of encouraging industrial output and retail sales data. Japanese shares recovered from a 14-week low, with transport, real estate and paper & pulp stocks outperforming, but still registered its biggest weekly drop in two months. Positive fourth-quarter US GDP data and Apple Inc's impressive earnings supported markets to some extent. Meanwhile, Chinese shares declined to close at a 16-month low even after state-backed newspapers and fund houses trying to calm investor nerves following a sharp sell-off on worries over faster US monetary policy tightening. Mainland Chinese markets would be shut for the week-long Lunar New Year holiday, starting January 31.


Last Trade           

Change in Points

Change in %    

Shanghai Composite


Hang Seng


Jakarta Composite


KLSE Composite


Nikkei 225


Straits Times


KOSPI Composite


Taiwan Weighted