Bourses add points in late afternoon session

22 Jan 2025 Evaluate

Indian equity markets spiked up in late afternoon session tracing positive cues from European markets. Traders took note of private report that India’s government is evaluating options ranging from a trade deal, cutting tariffs and importing more goods from the US if US President Donald Trump follows through with threatened trade action. Officials in the Narendra Modi-led administration have sketched out various scenarios to counter any steps a new Trump administration may take to narrow India’s trade surplus with the US which was $35.3 billion for the year ended March 31. On the global front, Asian markets were trading mixed after U.S. President Donald Trump threatened tariffs on the EU and China to address trade imbalances and combat fentanyl trafficking. European markets were trading higher despite U.S. President Donald Trump repeating his threat to impose tariffs on EU goods entering the States. 

The BSE Sensex is currently trading at 76281.98, up by 443.62 points or 0.58% after trading in a range of 75816.50 and 76307.76. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 1.82%, while Small cap index was down by 2.28%.

The only gaining sectoral indices on the BSE was IT up by 1.71%, TECK up by 1.50%, while Realty down by 4.83%, Industrials down by 2.42%, Capital Goods down by 2.32%, PSU down by 2.24% and Power was down by 2.23% were the yop losing indices on BSE.

The top gainers on the Sensex were Infosys up by 3.44%, TCS up by 2.86%, Sun Pharma up by 2.28%, Tech Mahindra up by 2.03% and HDFC Bank up by 1.48%. On the flip side, Tata Motors down by 2.74%, SBI down by 1.99%, Power Grid down by 1.77%, NTPC down by 1.37% and Axis Bank down by 1.05% were the top losers.

Meanwhile, signifying increased employment opportunities, the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional payroll data’ report has showed that 14.63 lakh net members have been added in the month of November 2024, an increase of 9.07% as compared to the previous month of October 2024. Further, on the year on year basis, there was a growth of 4.88% in net member additions compared to November 2023. EPFO enrolled around 8.74 lakh new members in November 2024. The new members’ addition shows an increase of 16.58% when compared with previous month of October 2024. Further, year on year analysis reveals a growth of 18.80% in the new members addition from the previous year in November 2023. 

Gender-wise analysis of payroll data unveiled that out of the new members added during the month, around 2.40 lakhs are new female members. The comparison with the previous month of October 2024 shows an increase of 14.94%. This figure also exhibits significant year-over-year growth of 23.62% compared to November 2023. Also, the net female member addition during the month stood at around 3.13 lakh reflecting an increase of approximately 12.16% compared to the previous month of October 2024. It also reflects a year over year growth of 11.75% compared to November 2023. The increase in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce.

State-wise, the report showed that net member addition in the top five states/ UTs constitutes around 59.42% of net member addition, adding a total around 8.69 lakh net members during the month. Of all the states, Maharashtra is leading by adding 20.86% of net members during the month. The states/UTs of Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat, Delhi, Telangana and Uttar Pradesh individually added more than 5% of the total net members during the month.

The CNX Nifty is currently trading at 23118.90, up by 94.25 points or 0.41% after trading in a range of 22981.30 and 23144.25. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Infosys up by 3.53%, Wipro up by 2.97%, TCS up by 2.88%, Sun Pharma up by 2.27% and Tech Mahindra up by 2.08%. On the flip side, Bharat Electronics down by 4.09%, Tata Motors down by 2.83%, Trent down by 2.08%, SBI down by 2.04% and Power Grid down by 1.67% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 618.27 points or 1.56% to 39,646.25, Taiwan Weighted added 225.4 points or 0.96% to 23,525.41, Jakarta Composite gained 76.6 points or 1.06% to 7,258.42 and KOSPI was up by 29.03 points or 1.14% to 2,547.06. On the flip side, Straits Times fell 3.6 points or 0.09% to 3,791.77, Shanghai Composite weakened 29 points or 0.9% to 3,213.62 and Hang Seng was down by 327.78 points or 1.66% to 19,778.77.

European markets were trading higher; UK’s FTSE 100 increased 27.52 points or 0.32% to 8,575.81, France’s CAC rose 39.71 points or 0.51% to 7,810.66 and Germany’s DAX was up by 206.15 points or 0.98% to 21,248.15.

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