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Indian equity benchmarks continued trade near their neutral lines in early afternoon deals, with both Sensex and Nifty trading marginally higher, on the back of positive cues from other Asian markets. Traders were getting relief, as calling India a bright spot in an otherwise world of gloom, Union Commerce and Industry Minister Piyush Goyal has said that every Indian is witness to the progress that the nation is making. The street took a note of reports that the government panel tasked to determine tax refund rates for overseas shipments from special economic zones and export-oriented units under export promotion scheme RoDTEP will submit its report on December 20.

However, gains were limited, as Centre for Monitoring Indian Economy (CMIE) in its latest data has showed that unemployment rate in India jumped to 7.77 per cent in October 2022 as compared to 6.43 per cent in September 2022 on the account of a sharp increase in rural unemployment.

On the global front, Asian markets were trading higher, even after China's exports declined unexpectedly in October on weak global growth and imports also posted a surprise fall as the spread of coronavirus restricted supply chains and dampened domestic demand. The data released by the General Administration of Customs revealed that Exports dropped 0.3 percent on a yearly basis in October. This was the first fall in exports since 2020.

The BSE Sensex is currently trading at 60950.60, up by 0.24 points after trading in a range of 60875.42 and 61401.54. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.43%, while Small cap index was up by 0.50%.

The top gaining sectoral indices on the BSE were PSU up by 1.49%, Metal up by 0.99%, Utilities up by 0.69%, Power up by 0.58% and Bankex up by 0.45%, while Healthcare down by 0.42%, Consumer Durables down by 0.33%, TECK down by 0.21% and IT down by 0.16% were the top losing indices on BSE.

The top gainers on the Sensex were SBI up by 2.70%, Tata Steel up by 1.96%, Ultratech Cement up by 0.83%, Power Grid up by 0.82% and Maruti Suzuki up by 0.58%. On the flip side, Asian Paints down by 1.95%, Titan Co down by 1.20%, Sun Pharma down by 1.12%, Dr. Reddy's Lab down by 1.03% and Bajaj Finserv down by 1.02% were the top losers.

Meanwhile, calling India a bright spot in an otherwise world of gloom, Union Commerce and Industry Minister Piyush Goyal has said that every Indian is witness to the progress that the nation is making. The Minister noted that when India’s citizens decide that India is to becomea Vishwaguru then there is no force in the world that can prevent it.
Further, while talking on the country’s mission to become Vishwaguru, Union Minister Piyush Goyal cited the unprecedented success of programmes like Har Ghar Tiranga, where it was near impossible to find even a single home that did not have the national flag hoisted in it.

Union Commerce and Industry Minister also added ‘Prime Minister Narendra Modi in his Panch Pran has appealed to the country to discard the colonial mindset and go back to our roots, following our family values, heritage and ethos. The Prime Minister’sPanch Pran will keep guiding us even in our day to day life.’

The CNX Nifty is currently trading at 18138.80, up by 21.65 points or 0.12% after trading in a range of 18115.50 and 18255.50. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Britannia up by 9.33%, Adani Enterprises up by 3.49%, SBI up by 2.63%, Tata Steel up by 2.00% and Coal India up by 1.71%. On the flip side, Asian Paints down by 1.98%, Cipla down by 1.85%, Divi's Lab down by 1.40%, Titan Co down by 1.27% and Sun Pharma down by 1.16% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 327.90 points or 1.21% to 27,527.64, Hang Seng increased 430.13 points or 2.66% to 16,591.27, Taiwan Weighted strengthened 197.02 points or 1.51% to 13,223.73, KOSPI rose 23.36 points or 0.99% to 2,371.79, Shanghai Composite gained 2.37 points or 0.08% to 3,073.17, Straits Times advanced 5.52 points or 0.18% to 3,135.63 and Jakarta Composite soared 16.12 points or 0.23% to 7,061.65.

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