Nifty reclaims 18,100; broader market outperforms

The main indices traded near the flat line with tiny losses in afternoon trade. The Nifty index hovered at 18,100 mark.

At 13:29 IST, the barometer index, the S&P BSE Sensex, was down 22.83 points or 0.04% at 60,695.93. The Nifty 50 index fell 2.7 points at 18,106.85.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.36% while the S&P BSE Small-Cap index rose 0.71%.

The market breadth was positive. On the BSE, 1,832 shares rose and 1,388 shares fell. A total of 163 shares were unchanged.

Gainers & Losers:

Maruti Suzuki India (up 6%), Tata Motors (up 3.75%), Mahindra & Mahindra (up 2.55%), Hero MotoCorp (up 2.48%) and Bajaj Finserv (up 1.54%) were top gainers in Nifty 50 index.

Shree Cement (down 1.74%), Tata Consumer Products (down 1.47%), NTPC (down 1.28%), Bharat Petroleum Corporation (down 1.21%) and SBI (down 1.21%) were top losers in Nifty 50 index.

Economy:

India's merchandise exports in October 2021 were $35.65 billion, as compared to $24.92 Billion in October 2020, exhibiting a positive growth of 43.05%. Exports rose 5.5% on a month-on-month basis.

Imports in October 2021 were $55.37 billion, which is an increase of 62.51% in dollar terms over the preceding year. Imports have fallen 1.8% sequentially.

India trade deficit fell marginally in October as exports rose and imports eased. Trade deficit stood at $19.73 billion, compared to $22.59 billion in September. In September, the monthly deficit was at an all-time high.

Primary Market:

The initial public offer (IPO) of Tarsons Products received bids for over 1.90 crore shares as against 1.08 crore shares on offer, according to stock exchange data at 13:24 IST on Tuesday (16 November 2021). The issue was subscribed 1.75 times.

The issue opened for bidding on Monday, 15 November 2021 and it will close on Wednesday, 17 November 2021. The price band of the IPO is fixed at Rs 635 - 662.

Stocks in Spotlight:

Coromandel International gained 1.16% after the company said that a new sulphuric acid plant is being built on par with globally best technology standards to control emissions. The steam generated from the process shall also be used for captive power generation. The fertilizer firm announced the project initiation for setting up a new 1650 metric tonnes per day design capacity sulphuric acid plant at its fertiliser complex in Visakhapatnam at a cost of Rs 400 crore.

Kesoram Industries gained 1.51%. The board of the company will meet on Saturday, 20 November 2021, to consider various fund raising options.

Global markets:

European shares rose across the board while most Asian indices advanced on Tuesday.

US equities ended flat on Monday, as U.S. Treasury yields reversed and climbed higher, and investors awaited quarterly reports from big retailers later in the week.

Meanwhile, U.S. President Joe Biden and Chinese President Xi Jinping kicked off a virtual meeting on Tuesday with a positive tone and cordial remarks. The video call is the closest communication between the countries' two leaders since Biden took office in January.

Powered by Capital Market - Live News