Markets trade flat with negative bias in morning deals

Indian equity markets traded flat with negative bias in morning deals tracking the subdued trends in Asian markets. Traders remained cautious with report that after running surplus liquidity of about Rs 1.4 lakh crore for over two months, the banking system saw a decline in cash, prompting the Reserve Bank of India to inject Rs 6,956 crore on November 25. However, losses remain capped as some support came with the Finance Ministry’s latest monthly economic review stated that the upcoming administration in US after the win of Donald Trump in the latest elections is set to play an important role in trade dynamics globally. The report noted that global economic factors, including shifts in interest rates, earnings growth, and geopolitical developments, will significantly influence trade and capital flows. On the global front, Asian markets are trading mostly in red as traders remain cautious ahead of the release of a key U.S. inflation measure, the Thanksgiving holiday in the U.S. and uncertainty over Trump's tariff plans.

The BSE Sensex is currently trading at 79949.43, down by 54.63 points or 0.07% after trading in a range of 79844.49 and 80170.16. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index fell 0.02%, while Small cap index was up by 0.65%.

The top gaining sectoral indices on the BSE were Utilities up by 1.35%, Power up by 1.20%, Industrials up by 0.89%, Capital Goods up by 0.75% and PSU up by 0.49%, while Realty down by 0.66%, Oil & Gas down by 0.40%, Consumer Durables down by 0.27%, Metal down by 0.27% and FMCG down by 0.21% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 1.91%, Maruti Suzuki up by 1.24%, Bajaj Finance up by 1.13%, Kotak Mahindra Bank up by 0.81% and Adani Ports &SEZ up by 0.73%. On the flip side, Bharti Airtel down by 1.38%, Indusind Bank down by 0.93%, Ultratech Cement down by 0.92%, Tata Steel down by 0.80% and Asian Paints down by 0.73% were the top losers.

Meanwhile, the government in its latest data has said that India’s milk production rose nearly 4 per cent annually to 239.3 million tonnes (MT) in 2023-24 on better productivity, even as milk output of buffaloes declined 16 per cent annually. Milk output from exotic/crossbred cattle has increased 8 per cent while production from indigenous/non-descript cattle increased 44.76 per cent. The milk output of India, the world’s largest milk producer, stood at 230.58 MT in 2022-23.

However, it stated the annual growth rate has slowed down in the previous two fiscal years. The growth rate was 6.62 per cent in 2017-18; 6.47 per cent in FY19; 5.69 per cent in FY20; 5.81 per cent in FY21; and 5.77 per cent in FY22. In FY23 it came down to 3.83 per cent and 3.78 per cent in FY24.

The top five milk producing states during 2023-24 were Uttar Pradesh with a share of 16.21 per cent of total milk production followed by Rajasthan (14.51 per cent), Madhya Pradesh (8.91 per cent), Gujarat (7.65 per cent), and Maharashtra (6.71 per cent).

The CNX Nifty is currently trading at 24182.70, down by 11.80 points or 0.05% after trading in a range of 24145.65 and 24268.85. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 3.55%, Bharat Electronics up by 2.43%, NTPC up by 2.00%, Trent up by 1.36% and Maruti Suzuki up by 1.29%. On the flip side, Britannia Industries down by 1.18%, Bharti Airtel down by 1.17%, Cipla down by 1.05%, Ultratech Cement down by 1.01% and ONGC down by 0.92% were the top losers.

Asian markets are trading mostly in red; Nikkei 225 slipped 356.47 points or 0.93% to 38,085.53, Taiwan Weighted lost 297.81 points or 1.31% to 22,380.95, KOSPI dropped 16.47 points or 0.65% to 2,503.89, Straits Times fell 8.72 points or 0.23% to 3,703.67 and Jakarta Composite plunged 0 points or 0% to 7,245.89.

On the flip side, Shanghai Composite strengthened 23.78 points or 0.73% to 3,283.54 and Hang Seng advanced 103.04 points or 0.54% to 19,262.24.