Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 282.04 points or 0.59% at 48,151.02. The Nifty 50 index was up 86.80 points or 0.62% at 14,105.30. The Sensex scaled record high above 48,100 mark in early trade. The Nifty also hit record high above 14,100 mark.
The S&P BSE Mid-Cap index was up 0.94%. The S&P BSE Small-Cap index was up 0.81%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1768 shares rose and 429 shares fell. A total of 98 shares were unchanged.
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.
Stocks in news:
Shares of Reliance Industries (RIL) slipped 0.31%. The Securities and Exchange Board of India (Sebi) has imposed an aggregate penalty of Rs 70 crore on Reliance Industries (RIL), its chairman Mukesh Ambani and two other entities for manipulative trading. The case pertains to sale and purchase of Reliance Petroleum (RPL) shares in the cash and the futures segments in November 2007. This followed RIL's decision in March 2007 to sell 4.1% stake in RPL, a listed subsidiary that was later merged with RIL in 2009.
Hero MotoCorp shed 0.22%. Hero MotoCorp's total sales rose 5.29% to 4,47,335 units in December 2020 from 424,845 units in December 2019. The company's domestic sales grew by nearly 3.1% to 4,25,033 units in December 2020 from 412,009 sold units in December 2019. Total exports jumped 73.75% to 22,302 units in December 2020 over December 2019.
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Tata Motors advanced 2.98%. Tata Motors' total sales have improved by 43.34% as compared to 1,10,379 vehicles sold in Q2 September 2020 (Q2 FY21). Total sales in the domestic and international market stood at 1,58,215 vehicles in Q3 December 2020 (Q3 FY21), up by 22.29% from 129,381 units during Q3 December 2019 (Q3 FY20).
Eicher Motors rose 1.87%. Eicher Motors' total Royal Enfield sales jumped 37% to 68,995 units in December 2020 as against 50,416 units in December 2019. In a separate announcement, VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, announced that its total commercial vehicles (CV) sales fell 3% to 4,892 units in December 2020 from 5,042 units in December 2019.
Coal India rose 0.81%. Coal India said its coal production on provisional basis rose 0.50% to 58.30 million tonnes (MT) in December 2020 from 58 MT in December 2019. Coal offtake in December 2020 stood at 52.6 MT, recording an 2.1% fall from 53.7 MT in December 2019.
BEML jumped 5.33%. BEML said that Government of India has decided to disinvest 26% of the total equity share capital of the company through strategic disinvestment with transfer of management control (Strategic Disinvestment or Transaction).
TVS Motor Company rose 1.01%. TVS Motor Company said the company's total sales grew 17.5% year-on-year to 272,084 units in December 2020 as against 231,571 units in December 2019.
NMDC gained 4.17%. NMDC said its iron ore production increased 23.3% to 3.86 million tonnes (MT) in December 2020 from 3.13 MT in December 2019. The company's iron ore sales climbed 19.08% to 3.62 MT in December 2020 from 3.04 MT in December 2019.
Global Markets:
Overseas, Asian stocks are trading 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.
Back home, domestic shares clocked modest gains on the first day of the calendar year 2021. The barometer index, the S&P BSE Sensex, gained 117.65 points or 0.25% to 47,868.98. The Nifty 50 index added 36.75 points or 0.26% to 14,018.50.
Foreign portfolio investors (FPIs) bought shares worth Rs 506.21 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 69.40 crore in the Indian equity market on 1 January, provisional data showed.
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