Domestic equity indices, after flat-to-positive
opening, were trading near its pre-close level ahead of the winter
session of Parliament that will begin tomorrow. Global cues too remained
un-supportive as overnight, US stocks fell following a two-day rally,
after Federal Reserve Chairman Ben Bernanke said the central bank lacks
tools to cushion the US economy from the impact of the fiscal cliff.
While, most of the Asian equity indices, after a positive opening, were
trading in the red at this point of time as investors refocused on the
risk of a US fiscal crisis following Federal Reserve Chairman Ben
Bernanke's remarks that the budget impasse was already damaging growth.
Back home, investors remained on the sidelines on political uncertainty on talks of a no-confidence motion or a vote on the FDI issue in the forthcoming winter session of Parliament that begins on Nov 22. However, sentiments were supported by Aviation stocks as scrips like Jet Air India, Spicejet, and Kingfisher Airlines all edged higher as the number of passengers carried by air carriers rose 13.36% in October 2012 over September 2012. On the sectoral front, consumer durables witnessed the maximum gain in trade followed by realty and software while, auto, public sector undertaking and power remained the top losers on the BSE sectoral space. The broader indices too were struggling to get some traction and trading mixed while the market breadth on the BSE was positive; there were 784 shares on the gaining side against 734 shares on the losing side while 69 shares remain unchanged.
The BSE Sensex opened at 18,379.90; about 50 points higher compared to its previous closing of 18,329.32, and has touched a high and a low of 18,395.06 and 18,309.81 respectively.
The index is currently trading at 18,331.60, up by 2.28 points or 0.01%. There were 14 stocks advancing against 16 declines on the index.
The overall market breadth has made a positive start with 49.40% stocks advancing against 46.25% declines. The broader indices too were trading mixed; the BSE Mid cap declined 0.07% while, Small cap index rose marginally by 0.02%.
The top gaining sectoral indices on the BSE were, CD up by 0.89%, Realty up by 0.43%, IT up by 0.30%, Bankex up by 0.19% and FMCG up by 0.17%. While, Auto down by 0.35%, PSU down by 0.25%, Power down by 0.25%, Oil and Gas down by 0.16% and Metal down by 0.12% were the top losers on the index.
The top gainers on the Sensex were Cipla up by 1.03%, Tata Power up by 1.02%, TCS up by 0.92%, GAIL up by 0.76% and ICICI Bank up by 0.67%.
On the flip side, Bharti Airtel was down by 1.46%, BHEL was down by 1.07%, Maruti Suzuki was down by 1.04%, Hero MotoCorp was down by 0.92% and SBI was down by 0.77% were the top losers on the Sensex.
Meanwhile, India is all set to conclude the Free Trade Agreement (FTA) in services and investment with Association of South East Asian Nations (ASEAN) by next month, which will send a strong signal of deepening economic engagement and further allow for rapid expansion in trade and investment flows in both directions. Prime Minister Manmohan Singh while addressing India-ASEAN summit, invited investments from the 10-nation ASEAN into India and also highlighted the steps taken by India to improve investment environment.
The FTA in services and investment were delayed due to strong differences between the two sides. However, Singh is optimistic on the conclusion of the agreement on trade in services and investments, together with existing agreement on trade in goods, which will be a launch pad for rapid expansion in economic relations with the ASEAN. By adding further he said, India's relationship with the ASEAN continues to expand in all magnitude, with commerce and connectivity being crucial areas of this relationship in which good progress has been made.
The index is currently trading at 5,568.80, down by 2.75 points or 0.05%. There were 21 stocks advancing against 29 declines on the index.
The top gainers of the Nifty were Cipla up by 1.09%, TCS up by 1.07%, RInfra up by 0.93%, Hindalco up by 0.90% and Axis Bank up by 0.74%.
On the flip side, Bharti Airtel down by 1.33%, Maruti Suzuki down by 0.99%, Hero MotoCorp down by 0.89%, NTPC down by 0.89% and Power Grid down by 0.86%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite was down by 7.17 points or 0.36% to 2,001.76, Jakarta Composite was down by 6.82 points or 0.16% to 4,305.55, KLSE Composite was down by 4.25 points or 0.26% to 1,619.95, Straits Times was down by 1.99 points or 0.07% to 2,956.83, Seoul Composite was down by 7.57 points or 0.40% to 1,882.61 and Taiwan Weighted was down by 52.31 points or 0.73% to 7,093.46. On the flip side, Hang Seng surged by 44.20 points or 0.21% to 21,272.48 and Nikkei 225 added 32.14 points or 0.35% to 9,174.78.
Back home, investors remained on the sidelines on political uncertainty on talks of a no-confidence motion or a vote on the FDI issue in the forthcoming winter session of Parliament that begins on Nov 22. However, sentiments were supported by Aviation stocks as scrips like Jet Air India, Spicejet, and Kingfisher Airlines all edged higher as the number of passengers carried by air carriers rose 13.36% in October 2012 over September 2012. On the sectoral front, consumer durables witnessed the maximum gain in trade followed by realty and software while, auto, public sector undertaking and power remained the top losers on the BSE sectoral space. The broader indices too were struggling to get some traction and trading mixed while the market breadth on the BSE was positive; there were 784 shares on the gaining side against 734 shares on the losing side while 69 shares remain unchanged.
The BSE Sensex opened at 18,379.90; about 50 points higher compared to its previous closing of 18,329.32, and has touched a high and a low of 18,395.06 and 18,309.81 respectively.
The index is currently trading at 18,331.60, up by 2.28 points or 0.01%. There were 14 stocks advancing against 16 declines on the index.
The overall market breadth has made a positive start with 49.40% stocks advancing against 46.25% declines. The broader indices too were trading mixed; the BSE Mid cap declined 0.07% while, Small cap index rose marginally by 0.02%.
The top gaining sectoral indices on the BSE were, CD up by 0.89%, Realty up by 0.43%, IT up by 0.30%, Bankex up by 0.19% and FMCG up by 0.17%. While, Auto down by 0.35%, PSU down by 0.25%, Power down by 0.25%, Oil and Gas down by 0.16% and Metal down by 0.12% were the top losers on the index.
The top gainers on the Sensex were Cipla up by 1.03%, Tata Power up by 1.02%, TCS up by 0.92%, GAIL up by 0.76% and ICICI Bank up by 0.67%.
On the flip side, Bharti Airtel was down by 1.46%, BHEL was down by 1.07%, Maruti Suzuki was down by 1.04%, Hero MotoCorp was down by 0.92% and SBI was down by 0.77% were the top losers on the Sensex.
Meanwhile, India is all set to conclude the Free Trade Agreement (FTA) in services and investment with Association of South East Asian Nations (ASEAN) by next month, which will send a strong signal of deepening economic engagement and further allow for rapid expansion in trade and investment flows in both directions. Prime Minister Manmohan Singh while addressing India-ASEAN summit, invited investments from the 10-nation ASEAN into India and also highlighted the steps taken by India to improve investment environment.
The FTA in services and investment were delayed due to strong differences between the two sides. However, Singh is optimistic on the conclusion of the agreement on trade in services and investments, together with existing agreement on trade in goods, which will be a launch pad for rapid expansion in economic relations with the ASEAN. By adding further he said, India's relationship with the ASEAN continues to expand in all magnitude, with commerce and connectivity being crucial areas of this relationship in which good progress has been made.
Further,
referring to the India-ASEAN FTA on trade in goods signed in 2009,
Singh said that it has served well, with the two-way commerce increasing
to nearly $80 billion in the Indian financial year ending March 2012,
exceeding the target of $70 billion. However, India would offer its own
resources, expertise and experience to support growth and development in
ASEAN countries, where such needs exist.
The S&P CNX Nifty opened at 5,582.50; about 11
points higher compared to its previous closing of 5,571.55, and has
touched a high and a low of 5,588.25 and 5,561.40 respectively. The index is currently trading at 5,568.80, down by 2.75 points or 0.05%. There were 21 stocks advancing against 29 declines on the index.
The top gainers of the Nifty were Cipla up by 1.09%, TCS up by 1.07%, RInfra up by 0.93%, Hindalco up by 0.90% and Axis Bank up by 0.74%.
On the flip side, Bharti Airtel down by 1.33%, Maruti Suzuki down by 0.99%, Hero MotoCorp down by 0.89%, NTPC down by 0.89% and Power Grid down by 0.86%, were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite was down by 7.17 points or 0.36% to 2,001.76, Jakarta Composite was down by 6.82 points or 0.16% to 4,305.55, KLSE Composite was down by 4.25 points or 0.26% to 1,619.95, Straits Times was down by 1.99 points or 0.07% to 2,956.83, Seoul Composite was down by 7.57 points or 0.40% to 1,882.61 and Taiwan Weighted was down by 52.31 points or 0.73% to 7,093.46. On the flip side, Hang Seng surged by 44.20 points or 0.21% to 21,272.48 and Nikkei 225 added 32.14 points or 0.35% to 9,174.78.
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