The Sensex hit a record high of 48,168.22 while the Nifty scaled an all time high of 14,114.15 in morning trade today.
The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.44% while the S&P BSE Small-Cap index added 0.37%.
The market breadth was positive. On the BSE, 1693 shares rose and 1094 shares fell. A total of 171 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 85,095,602 with 1,842,590 deaths. India reported 243,953 active cases of COVID-19 infection and 149,649 deaths while 99,46,867 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Meanwhile, the Drugs Controller General of India (DCGI) on January 3 reportedly granted restricted emergency use authorisation for the Serum Institute of India (SII)'s 'Covishield' and Bharat Biotech's 'Covaxin' vaccines against COVID-19, the disease caused by the novel coronavirus. The 'Covishield' vaccine, developed by University of Oxford and pharmaceutical giant AstraZeneca, is being produced in the country by the Serum Institute. Bharat Biotech has developed 'Covaxin' - India's first indigenous vaccine against COVID-19.
Economy:
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The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 56.4 in December, a tick higher than November's reading of 56.3 and above the critical 50.0 threshold for the fifth straight month.
Commenting on the latest survey results, Pollyanna De Lima, Economics Associate Director at IHS Markit said, "The latest PMI results for the Indian manufacturing sector continued to point to an economy on the mend, as a supportive demand environment and firms' efforts to rebuild safety stocks underpinned another sharp rise in production. It's important to emphasise the broad-based nature of the recovery, with marked expansions in both sales and output noted across each of the three monitored sub-sectors. Once again, the survey brought the bad news of falling employment. However, the trend for jobs is at least moving in the right direction as the rate of contraction softened to the weakest in the current nine-month period of reduction. The latest available official data pointed to a 3.5% annual increase in manufacturing production during October, when the PMI Output Index had strengthened considerably. In the two months since, growth lost some momentum and we are likely to see the official results showing a similar pattern.
Buzzing Index:
The Nifty Realty index slipped 1.36% to 312.10 and came under profit taking after three days of rally. The Nifty Realty index had gained 3.36% in last three trading sessions.
Sunteck Realty (down 1.57%), Sobha (down 1.46%), Phoenix Mills (down 1.14%), Oberoi Realty (down 1.13%), DLF (down 0.88%), Godrej Properties (down 0.46%), Indiabulls Real Estate (down 0.43%) and Brigade Enterprises (down 0.26%) declined.
Stocks in Spotlight:
Bajaj Auto rose 0.19%. The two-wheeler maker's total sales rose 11% to 372,532 units in December 2020 from 336,055 units in December 2019. While total domestic sales declined by 9% to 139,606 units, total exports improved by 27% to 232,926 units in December 2020 over December 2019. During the month, the company's total two-wheeler sales increased by 19% year-on-year (YoY) to 338,584 units. In the commercial vehicles segment, Bajaj Auto sold 33,948 vehicles in December 2020, which is lower by 34% as compared to 51,253 vehicles sold in the same period last year.
BEML surged 3.37% after the company said that its promoter Government of India (GoI) has decided to divest 26% stake in the company. The Government of India (GoI) has decided to disinvest 26% stake in BEML through strategic disinvestment with transfer of management control. "GoI has appointed SBI Capital Markets (SBICAP) as its Transaction Advisor to advise and manage the strategic disinvestment process, the company said in a BSE filing made on Saturday (2 January 2021). BEML lastly said that the disinvestment process is to be implemented through open competitive bidding route.
E.I.D Parry (India) fell 0.51% after the company said it has closed Pettavaithalai sugar unit as it is not operational due to continuous non-availability of adequate sugar cane. The board of E.I.D Parry (India) decided that the sugar unit will not be operated in future as the expectation of a revival of the cane cultivation in the area is low due to a variety of factors.
Global Markets:
Asian stocks were mixed on Monday as the first trading day of 2021 kicked off.
A private survey released Monday showed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers' Index (PMI) for the month coming in at 53.0. That compared against November's reading of 54.9. The 50-level in PMI readings separates expansion from contraction.
The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 50.0 in December from the previous month's 49.0 and a preliminary 49.7 reading.
Investors are cautiously watching runoff elections in Georgia for two U.S. Senate seats on Tuesday that will determine which party controls the Senate.
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