At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 239.42 points or 0.39% to 61,577.23. The Nifty 50 index added 75.75 points or 0.41% to 18,344.75.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.20% while the S&P BSE Small-Cap index gained 0.17%.
The market breadth was positive. On the BSE, 1955 shares rose and 1564 shares fell. A total of 181 shares were unchanged.
Gainers & Losers:
Eicher Motors (up 3.07%), Mahindra & Mahindra (up 2.59%), Adani Ports and Special Economic Zone (up 2.39%), Dr. Reddy's Laboratories (up 1.99%) and Bajaj Finserv (up 1.95%) were top Nifty gainers.
IndusInd Bank (down 1.08%), Tata Motors (down 1%), Tata Consultancy Services (down 0.93%), Infosys (down 0.81%) and Bharat Petroleum Corporation (down 0.78%) were major Nifty losers.
More From This Section
Economy:
India's Direct Tax collections for the Financial Year 2022-23, as on 17 December 2022 show that net collections are at Rs 11,35,754 crore, compared to Rs 9,47,959 crore in the corresponding period of the preceding Financial Year i.e FY 2021-22, representing an increase of 19.81%. The Net Direct Tax collection of Rs 11,35,754 crore as on 17 December 2022 includes Corporation Tax (CIT) at Rs 6,06,679 crore (net of refund) and Personal Income Tax (PIT) including Securities Transaction Tax(STT) at Rs 5,26,477 crore (net of refund).
The Gross collection of Direct Taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs 13,63,649 crore compared to Rs 10,83,150 crore in the corresponding period of the preceding financial year, registering a growth of 25.90% over collections of F.Y. 2021-22.
Stocks in Spotlight:
Dr. Reddy's Laboratories rose 1.99% to after the pharmaceutical company said that its tocilizumab biosimilar candidate, DRL_TC has completed its primary and secondary endpoints in a Phase 1 study.
Glenmark Pharmaceuticals declined 0.19%. The drug maker said that it has received final approval by the United States Food & Drug Administration (US FDA) for Nicardipine Hydrochloride Capsules, 20 mg and 30 mg. The approved abbreviated new drug application (ANDA) is a generic version of Cardene Capsules, 20 mg and 30 mg, of Chiesi USA, Inc.
Dilip Buildcon rallied 3.97% after the company said it has received letter of acceptance from the National Highways Authority of lndia (NHAI) for new hybrid annuity model projects in the state of Karnataka, Chhattisgarh and Telangana.
Global Markets:
Asian stocks declined across the board on Monday as investors struggled to shake off recession fears. In China, officials vowed to stabilize its economy in 2023 and maintain ample liquidity in financial markets in order to meet key targets, as per reports.
US stocks dropped for a third straight session on Friday as fears continued to mount that the Federal Reserve's campaign to arrest inflation would tilt the economy into a recession.
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