In the broader market, the S&P BSE Mid-Cap index was up 0.4% while the S&P BSE Small-Cap index fell 0.2%.
The market breadth was almost even. On the BSE, 1203 shares rose and 1290 shares fell. A total of 161 shares were unchanged.
Global stock markets tumbled as coronavirus cases climb on both sides of the Atlantic, and U.S. politicians have been unable to reach a stimulus deal ahead of the presidential election next week. The Dow Jones 30 futures were down 384 points, indicating a weak start in US markets today.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 44,945,080 with 1,180,317 deaths, according to data from Johns Hopkins University.
India reported 5,94,386 active cases of COVID-19 infection and 120,527 deaths while 73,73,375 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Meanwhile, the Maharashtra government issued orders extending the Covid-19 induced lockdown for another month, till midnight of 30 November 2020. The state government under its 'Mission Begin Again' plan said that the phase-wise opening of activities in Maharashtra will "remain in force till 30 November, 2020 for containment of COVID-19 epidemic in the state and all departments of government of Maharashtra shall strictly implement these guidelines.
Economy:
India's output of eight core infrastructure sectors dropped by 0.8% in September, mainly due to decline in production of crude oil, natural gas, refinery products and cement. The production of eight core sectors had contracted 5.1% in September 2019, data released by the Commerce and Industry Ministry showed on Thursday. The decline in output during the month under review was lowest since March. Barring coal, electricity and steel, all sectors (crude oil, natural gas, refinery products, fertiliser and cement) recorded negative growth in September 2020.
India's fiscal deficit stood at Rs 9.1 lakh crore halfway through this financial year, exceeding the full-year target of Rs 7.96 lakh crore by almost 15%, according to official data released on Thursday. Total expenditure stood at Rs 14.8 lakh crore, or 48.6% of the budget estimate. The Centre spent 53% of the budgeted expenditure in the six months ended September 2019. The government's total revenue was Rs 5.7 lakh crore at the end of September, representing 25% of the budgeted amount and 40% of the figure a year earlier, data from the Controller General of Accounts revealed.
Buzzing Index:
The Nifty Auto index slipped 1.38% to 7,738.25, extending losses to third consecutive trading session. The index has lost 2.43% in three days.
Hero MotoCorp (down 3.32%), Eicher Motors (down 2.55%), Motherson Sumi Systems (down 2.42%), Maruti Suzuki India (down 2.24%), Ashok Leyland (down 1.56%), Bajaj Auto (down 1.19%), Bosch (down 0.92%) and Tata Motors (down 0.19%) were top losers in automobile segment.
Stocks in Spotlight:
Tata Chemicals fell 0.91% after the company's consolidated net profit declined 75.3% to Rs 70.47 crore on 5.8% fall in net sales to Rs 2609.35 crore in Q2 September 2020 over Q2 September 2019. On the segmental front, revenue from basic chemistry products contracted 10.6% to Rs 1838.68 while the revenue from specialty products rose 7.4% to Rs 766.17 crore in Q2 FY21 over Q2 FY20. Profit before tax in Q2 FY21 stood at Rs 189.16 crore, down by 51.3% from Rs 388.50 crore in Q2 FY20. Tax expense increased by 14% year-on-year (YoY) to Rs 79.67 crore during the second quarter.
Security and Intelligence Services (India) surged 8% after the company's consolidated net profit jumped 41.9% to Rs 108.1 crore on a 3.3% rise in revenue from operations to Rs 2,157.9 crore in Q2 September 2020 over Q2 September 2019. Revenue from Security Solutions India business stood at Rs 839.16 crore (down 4.2% YoY), Security Solutions International business generated revenue of Rs 1068 crore (up 18.19% YoY) and revenues from Facilities Management were at Rs 256 crore (down 18.5% YoY) during the quarter. EBITDA increased by 4.9% to Rs 129.7 crore in Q2 September 2020 from Rs 123.6 crore in Q2 September 2019. EBITDA margin was at 6% as on 30 September 2020 as against 5.9% as on 30 September 2019.
Numbers to Track:
MCX Gold futures for 4 December 2020 settlement rose 0.47% to Rs 50,519.
In the commodities market, Brent crude for December 2020 settlement was unchanged at $37.65.
Domestic bond and forex market were shut on account of 'Eid e Milad'.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
