In the broader market, the S&P BSE Mid-Cap index was up 1.02% while the S&P BSE Small-Cap rallied 1.08%. Both indices outperformed the benchmark indices.
The market breadth was strong. On the BSE, 1900 shares rose and 867 shares fell. A total of 149 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 87,156,972 with 18,82,051 deaths. India reported 2,28,083 active cases of COVID-19 infection and 1,50,336 deaths while 1,00,16,859 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Economy:
The Reserve Bank of India (RBI) reported that currency in circulation contracted by 0.3% on the week to stand at Rs 27.70 lakh crore as on 1 January 2021. The central bank stated further that the overall reserve money rose by 0.2% on the week to Rs 33.22 lakh crore. Currency in circulation rose around 22.1% on a year ago basis compared to 11.8% growth at the same time last year. In the current fiscal, the currency in circulation has expanded by 13.2% so far while the reserve money has increased by 9.7%.
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Buzzing Index:
The Nifty Realty index surged 2.2% to 325.60, extending its winning run to second trading session. The index has added nearly 3% in two trading sessions.
Indiabulls Real Estate (up 7.39%), Sobha (up 4.53%), Mahindra Lifespace Developers (up 3.12%), Sunteck Realty (up 2.44%), Godrej Properties (up 1.73%), DLF (up 1.66%), Oberoi Realty (up 1.51%), Prestige Estates Projects (up 1.48%) and Brigade Enterprises (up 1.45%) were top gainers in realty segment.
According to the media reports, the Maharashtra government on 6 January 2021 approved the proposal to cut the premium on real estate projects by half till 31 December 2021. Developers availing of the scheme would have to pay full stamp duty and registration charges on behalf of homebuyers, the reports added. The move will help in expediting project completion and the realty industry would witness new launches.
Stocks in Spotlight:
L&T added 2.05% after the company's subsidiary L&T Hydrocarbon Engineering won a 'large' offshore contract from ONGC for their new living quarter and revamp at NQ Complex. The contract involves engineering, procurement, construction, installation and commissioning of a new living quarter platform of 120 men capacity, bridge (with intermediate support) to existing 'NQO Complex' and major revamping / replacement of existing process systems / facilities at 'NQ Complex' in ONGC's Mumbai High Asset on the West Coast of India.
Dixon Technologies (India) jumped 4.45% after the company entered into an agreement with Imagine Marketing ("boAt") for manufacturing of twin wireless speakers. Dixon will be manufacturing the products from its facility in Noida, Uttar Pradesh.
Global Markets:
Asian markets advanced on Thursday after the Dow Jones Industrial Average surged to an all-time high overnight despite unrest in Washington.
In US, the Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
Stocks closed off their highs as pro-Trump rioters stormed the U.S. Capitol and caused Congress to suspend proceedings to confirm the election of Joe Biden as president. The Capitol was finally secured late Wednesday afternoon, and Congress resumed the process of counting electoral votes and confirming President-elect Joe Biden's victory.
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