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Firm trade persisted over the Dalal Street in early afternoon session, with both Sensex and Nifty maintaining their gains, tracking positive other Asian markets. Domestic sentiments remained upbeat as investment in the Indian capital markets through participatory notes rose to Rs 97,784 crore at the end of October, the highest in a year. This was also the third consecutive monthly increase in investments through such a route. Adding more relief among traders, World Bank said that retaining its spot as the world's top recipient of remittances, migrant workers from India are set to send home a record USD 100 billion in 2022, despite global headwinds like rising prices. In its latest Migration and Development Brief, World Bank said remittance flows to India will rise 12 per cent, putting its inflows ahead of China, Mexico and the Philippines.

Asian markets were trading mostly in green, even after the manufacturing sector in Taiwan continued to contract in November, albeit at a slightly slower pace, with a manufacturing PMI score of 41.6. That's up from 41.5 in October, although it remains well beneath the boom-or-bust line of 50 that separates expansion from contraction. Average input costs meanwhile fell again in November amid reports of lower raw material prices. Prices charged by manufacturers rose for the first time in four months, albeit fractionally.

The BSE Sensex is currently trading at 63415.24, up by 315.59 points or 0.50% after trading in a range of 63316.63 and 63583.07. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.65%, while Small cap index was up by 0.96%.

The top gaining sectoral indices on the BSE were IT up by 2.27%, TECK up by 1.69%, Metal up by 1.34%, Industrials up by 0.82% and Capital Goods up by 0.75%, while FMCG down by 0.40%, Power down by 0.25%, Utilities down by 0.24% and Auto down by 0.01% were the top losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 2.58%, TCS up by 2.41%, HCL Tech. up by 2.20%, Ultratech Cement up by 2.17% and Wipro up by 1.71%. On the flip side, ICICI Bank down by 1.16%, Hindustan Unilever down by 1.04%, Power Grid down by 0.98%, Mahindra & Mahindra down by 0.82% and Dr. Reddy's Lab down by 0.63% were the top losers.

Meanwhile, the Controller General of Accounts (CGA) in its latest data has indicated that the government's fiscal deficit in end-October touched 45.6 per cent of the full year Budget Estimate. In actual terms, the fiscal deficit -- the difference between expenditure and revenue -- was Rs 7,58,137 crore during the April-October period of 2022-23.

As per the CGA data, in the corresponding period last year, the deficit was 36.3 per cent of the Budget Estimates of 2021-22. For 2022-23, the fiscal deficit of the government is estimated to be Rs 16.61 lakh crore or 6.4 per cent of the GDP. The net tax revenue at Rs 11.71 lakh crore was 60.5 per cent of BE 2022-23. During the corresponding period of 2021-22, the tax revenue (net) was 68.1 per cent of that year's BE.

Data also stated that Central government's total expenditure during April-October works out to be Rs 54.3 per cent of BE 2022-23, higher than 52.4 per cent of BE in the year-ago period. The central government's total receipts, including non-tax revenue, stood at Rs 13.85 lakh crore or 60.7 per cent of the current year's BE. In the year-ago period, the total receipts had touched 64.7 per cent of BE 2021-22.

The CNX Nifty is currently trading at 18845.75, up by 87.40 points or 0.47% after trading in a range of 18816.65 and 18887.60. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 3.11%, Tech Mahindra up by 2.69%, TCS up by 2.39%, HCL Tech. up by 2.24% and Ultratech Cement up by 2.17%. On the flip side, Cipla down by 1.71%, UPL down by 1.31%, Bajaj Auto down by 1.28%, Hindustan Unilever down by 1.17% and ICICI Bank down by 1.09% were the top losers.

Asian markets are trading mostly in green, Hang Seng increased 289.10 points or 1.55% to 18,886.33, Nikkei 225 surged 257.09 points or 0.92% to 28,226.08, Taiwan Weighted strengthened 133.25 points or 0.9% to 15,012.80, Shanghai Composite gained 14.13 points or 0.45% to 3,165.47, KOSPI rose 7.31 points or 0.3% to 2,479.84 and Straits Times was up by 4.23 points or 0.13% to 3,294.72. On the flip side, Jakarta Composite was down by 43.14 points or 0.61% to 7,038.17.

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