Benchmark indices continue to trade in the red during the late morning trade on Wednesday. At 11:11 AM, Sensex was lower 131.69 points or 0.29% at 44,523.75 levels while the Nifty was down 15.65 points or 0.12% at 13,093.40 levels. Nifty continues to trade above the 13k mark.
IT stocks remain under pressure, whereas auto and metal stocks are seeing buying interest. Nifty Metal Index gained 1% led by the Hindustan Copper, Nalco, NMDC.
Tata Motors, IOC, BPCL, Asian Paints and Hindalco were among major gainers on the Nifty.
Further, as per CNBC-TV-18 reports, there is a stable outlook for Indian corporates in 2021 on economy rebound & earnings growth. Most Indian companies earnings will grow as demand starts to recover following a sharp slump. The overall recovery to remain fragile as new infections continue to grow. The low interest rate environment and credit availability will allow corporates with strong balance sheet to grow.
Indian rupee opened 21 paise higher at 73.45/dollar today against Tuesday's close of 73.66. On December 1, domestic currency ended higher by 39 paise at 73.66 against Friday's close of 74.05.
Hero MotoCorp's total sales jumped 14.4% at 5,91,091 units in November 2020 vs. 5,16,775 units and domestic sales was up 13.8% at 575,957 units vs. 505,994 units YoY.