Markets slip marginally; Sensex slips 109 points & Nifty settles at 17,889

After a volatile session, the domestic equity benchmarks ended with limited losses on Tuesday, November 2, 2021. The S&P BSE Sensex fell 109.40 points or 0.18 per cent to 60,029.06. The Nifty 50 index lost 40.70 points or 0.23 per cent to 17,888.95. However, the Nifty Bank index closed with a gain of 174.70 points or 0.44 per cent at 39,938.45.

Meanwhile, the Nifty crossed the 18,000-mark in the opening deals and touched a high of 18,012.25 and a low of 17,847.60. Similarly, the Sensex touched a high of 60,421.14 and a low of 59,881.75 today.

The NSE Nifty rallied past the 18,000-mark, in opening deals to a high of 18,012, but soon the rally fizzled and the index dropped to a low of 17,848. The Nifty 50 index finally settled with a loss of 41 points at 17,889.

The broader markets outperformed the Sensex at the BSE with the S&P BSE MidCap index rising 0.55 per cent and S&P BSE SmallCap gaining 1.11 per cent.

The market breadth was fairly positive today. On the BSE, 1,959 shares rose and 1,294 shares fell. On the Nifty 50 index at the NSE, 20 shares advanced and 30 shares declined. The top five gainers on Nifty were Maruti (up 2.29 per cent), NTPC (up 1.90 per cent), Titan (1.86 per cent), SBI (up 1.22 per cent) and Larsen & Turbo (up 1.21 per cent). The top five losers were Tata Steel (up 3.44 per cent), Grasim (up 2.28 per cent), JSW Steel (up 2.10 per cent), Hindalco (up 1.93 per cent) and HCL Technologies (up 1.43 per cent).

Economy

India's merchandise exports in October rose 42.3 per cent on a year-over-year (YoY) basis to touch $35.47 billion, as per preliminary trade data revealed by the Ministry of Commerce and Industry on Monday. Total merchandise imports in October, however, rose 62.5 per cent to $55.37 billion. The trade deficit in October widened to $19.9 billion compared to $9.15 billion, recorded in October 2020.

US manufacturing activity slowed in October, with all industries reporting record-long lead times for raw materials. The ISM's index of national factory activity slipped to a reading of 60.8 last month from 61.1 in September.

The end of Britain's furlough programme has not led to a surge in new job-seekers, according to data that suggests unemployment is unlikely to rise sharply and could bolster the case for a Bank of England interest rate hike.