Sensex gains 327 pts in first session of 2023, Nifty nears 18200; RIL up 1%

Closing Bell: Among sectors, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to 'positive'

An index of 100 mid-cap stocks has surged 32% year-to-date, while a similar measure of small-cap names has rallied 43%. (Photo: Bloomberg)

CLOSING BELL

STOCK MARKET HIGHLIGHTS

The first trading session of 2023 turned out positive for domestic equities as the frontline indices closed with firm gains on Monday.

The BSE Sensex swinged to a low of 60,765 during the day before gaining strength to close 327 points higher at 61,168. Though this was off the day's high of 61,223. The NSE Nifty touched a low of 18,086 but bounced back to close at 18,197, up 92 points.

Overall, the trade was undecisive throughout the session due to a lack of global triggers with most markets being closed on account of the new year holiday.

Tata Steel (up 5.8 per cent), Tata Motors (up 1.8 per cent), ICICI Bank(1.5 per cent), M&M (1 per cent) and Reliance (1 per cent) emerged as the top Sensex winners. Hindalco and ONGC were the additional gainers on Nifty, up around 3 per cent each.

On the flip side, Asian Paints, Titan, Tech M, Bajaj Finance, Sun Pharma, Nestle, HUL, Divi's Labs, Bajaj Auto and Hero Moto were the top index losers, which shed up to1.4 per cent.

The broader markets outweighed the gains in the Sensex benchmark with the BSE Smallcap and Midcap indices closing 0.8 per cent and 0.6 per cent higher, respectively.

Among sectors, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to 'positive'. Read why Jefferies has turned bullish on metals

Other sectoral gainers included Nifty Realty, PSB and financial services while Nifty Pharma and consumer durables underperformed and lost up to 0.4 per cent.

European shares

Some markets in Europe rose in Monday's trade with STOXX Europe 600, DAX and CAC 40 gaining 0.8-1.5 per cent. Markets in London and Dublin were meanwhile closed.

IPO Watch

Sah Polymers' Rs 66.30 crore IPO was fully subscribed on the second day. As of 3:40 PM, the issue was subscribed by 1.78 times with the retail portion subscribed 6 times. The initial public share sale ends on January 04.

4:01 PM

TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

The Nifty has been witnessing short term consolidation for the last few sessions. On the higher side, a rising trendline & the key daily moving averages are acting as resistances whereas the 20 week moving average & the 50% retracement of the Sept – Dec 2022 rally are providing support on the downside. The overall structure shows that the index can continue with the short term consolidation in the range of 17800-18400. Within this range, the Nifty is attempting a move towards 18400. The level of 18000 is acting as an intermediate support.

3:55 PM

MARKET VIEW: Vinod Nair, Head of Research at Geojit Financial Services

Investors welcomed the new year on a high note with data showing strengthening domestic business conditions. India’s manufacturing PMI rose to 57.8 in December from 55.7 in the previous month, with new orders rising at the fastest pace since February 2021. Metal stocks led the surge following reports of China raising export duties to support their domestic demand, which is positive for India. We expect 2023 to be a year to buy equities in anticipation that a large part of the global recession has already been factored in the market.

3:52 PM

Over 2,000 stocks advanced in trade whereas 1,301 declined

3:50 PM

Broader markets outperform benchmark; India VIX slips 1%

3:48 PM

Nifty Pharma index sole sector to close in negative territory

3:45 PM

Nifty Metal index best sectoral performer, rises above 2%

3:42 PM

Divi's Lab, Titan, Asian Paints top Nifty50 laggards

3:40 PM

Tata Steel, Hindalco, ONGC top Nifty50 leaders

3:35 PM

SENSEX HEATMAP: 23 out of 30 counters close in green

3:34 PM

CLOSING BELL: Sensex closes over 300 points higher, reclaims 61,000-mark

3:33 PM

CLOSING BELL: Nifty50 closes above 18,150 levels

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First Published: Jan 02 2023 | 8:04 AM IST