The domestic equity benchmarks were currently at the day's high in afternoon trade. The Nifty marched towards 17,600 mark. Buying was wide spread with banks, financials and autos gaining the most.
At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 805.52 points or 1.38% to 59,059.34. The Nifty 50 index added 227.75 points or 1.31% to 17,581.80.
In the broader market, the S&P BSE Mid-Cap index rose 1.03% while the S&P BSE Small-Cap index gained 1.30%.
The market breadth was strong. On the BSE, 2717 shares rose and 791 shares fell. A total of 129 shares were unchanged.
Gainers & Losers:
Eicher Motors (up 5.06%), Coal India (up 4.52%), Bajaj Finserv (up 3.29%), Bajaj Finance (up 3.24%) and Tata Motors (up 2.86%) were the gainers in the Nifty 50 index.
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Cipla (down 1.50%), Dr Reddy's Lab (down 0.55%), Divi's Lab (down 0.52%), Mahindra & Mahindra (down 0.36%) and Titan Company (down 0.26%) were the losers in the Nifty 50 index.
Stocks in Spotlight:
Goodluck India rose 0.75% to Rs 362.50. The company registered sales volume of 72,273 metric tonnes in Q3 FY22, up 9.81% QoQ and 16.90% YoY. Better availability of raw material coupled with strong growth in exports sales led to higher overall sales volume, the company said.
Atul Auto gained 0.13% to Rs 191.20. The company recorded a 2.6% decline in total sales to 1,683 units in the month of December 2021 as against 1,728 units in December 2020. Sequentially, Atul Auto registered a 25.22% jump in total sales from 1,344 units sold in November 2021.
Economy:
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) stood at 55.5 in December, pointing to a robust improvement in overall operating conditions that was elevated by historical standards. This was despite the headline figure slipping from November's ten-month high of 57.6. Moreover, the latest quarterly reading was at 56.3, its highest since the final quarter of fiscal year 2020/21.
COVID-19 Update:
India added 33,750 new cases in the last 24 hours taking active caseload to 1,45,582 patients. Total deaths due to COVID-19 stood at 481,893. Meanwhile, the country reported 1,700 new omicron cases.
West Bengal imposed a series of new COVID-19 related restrictions from 3 January under which all schools and colleges will remain shut. Restrictive measures have also been imposed on shopping malls, market complexes, restaurants, and bars, wherein only 50% of their total capacity is allowed.
Since it was first detected in South Africa last month, the omicron variant has spread across the globe and is now present in 106 countries.
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