Domestic Stock Markets ended with modest gains; Sensex jumps 195 points & Nifty 50 rises 0.52 pct
Domestic indices ended with decent gains on Monday, November 23, 2020, tracking positive global cues on hopes of immediate Coronavirus vaccines.
Domestic indices ended with decent gains on Monday, November 23, 2020, tracking positive global cues on hopes of immediate Coronavirus vaccines. The S&P BSE Sensex rose 194.90 points, or 0.44 per cent, to settle at 44,077.15. The NSE Nifty-50 index also added 67.40 points or 0.52 per cent to settle at 12,926.45. However, Nifty Bank lost 211.80 points, or 0.72 per cent, and settled at 29,024.20.
The broader market at BSE outperformed the Sensex as the BSE Mid-Cap index surged 1.25 per cent while the BSE Small-Cap index appreciated 1.37 per cent.
Buyers outnumbered sellers. On the BSE, 1,679 shares rose and 1,149 shares fell. A total of 185 shares were unchanged. On similar lines, 36 shares advanced on Nifty 50, while 14 shares declined. The top gainers on Nifty 50 block were ONGC (up 6.63 per cent), IndusInd Bank (up 3.79 per cent), GAIL (up 3.54 per cent), Dr Reddy's (up 3.51 per cent) and Infosys (up 3.19 per cent). The major losers include HDFC (down 3.50 points), ICICI Bank (down 2.48 per cent), Axis Bank (down 1.79 per cent), SBI Life (down 1.75 per cent) and Titan (down 1.73 per cent).
Total COVID-19 confirmed cases worldwide were at 5,86,49,890 with 13,88,075 deaths. India reported 4,43,486 active cases of COVID-19 infection and 1,33,738 deaths while 85,62,641 patients have been discharged.
India's Manufacturing Sector Recovery
FICCI's latest quarterly survey on Manufacturing pointed towards the recovery of the manufacturing sector for Q2 (July-September 2020-21) as compared to the previous quarter. The percentage of respondents reporting higher production in the second quarter of 2020-21 has increased vis-a-vis the Q1 of 2020-21. The proportion of respondents reporting higher output during July-September 2020 rose to 24 per cent, as compared to 10 per cent in Q1 of 2020-21. The percentage of respondents expecting low or same production is 74 per cent in Q2 2020-21 which was 90 per cent in Q1 of 2020-21.
The overall capacity utilisation in manufacturing has witnessed a rise to 65 per cent as compared to 61.5 per cent in Q4 2019-20.
On the economic data front, Singapore's economy contracted 5.8 per cent in the third quarter, according to the country's Ministry of Trade and Industry.