The headline equity indices ended with decent gains after a volatile session on Tuesday. The Nifty managed to close above the 18,100 level after hitting the day's low of 17,967.45 in the morning trade. Metal, PSU bank and realty stocks advanced while FMCG and healthcare shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, advanced 361.01 points or 0.60% to 60,927.43. The Nifty 50 index added 117.70 points or 0.65% to 18,132.30.
In the broader market, the S&P BSE Mid-Cap index advanced 0.78% while the S&P BSE Small-Cap index gained 1.46%.
The market breadth was strong. On the BSE, 2580 shares rose, and 918 shares fell. A total of 133 shares were unchanged.
Buzzing Index:
The Nifty Metal index jumped 4.23% to 6,633.95. The index has advanced 6.52% in the past two sessions.
Jindal Steel & Power (up 9.34%), National Aluminium Company (up 6.62%), Hindalco Industries (up 6.26%), Tata Steel (up 5.76%) and Steel Authority of India (up 5.48%) were the top gainers.
Among the other gainers were JSW Steel (up 4.53%), Hindustan Copper (up 4.5%), Vedanta (up 4.02%), Welspun Corp (up 3.67%) and MOIL (up 2.41%).
On the other hand, APL Apollo Tubes (down 0.64%) and Ratnamani Metals & Tubes (down 0.09%) edged lower.
Stocks in Spotlight:
NTPC shed 0.21%. The nation's largest energy conglomerate said that it has signed a non-binding memorandum of understanding (MOU) with Tecnimont, Indian Subsidiary of Maire Tecnimont Group, Italy. The objective of the MOU is to jointly evaluate and explore the possibility to develop commercial scale Green Methanol Production facility at a NTPC project in India.
Time Technoplast jumped 5.90%. The polymer products manufacturer has announced the receipt of repeat order from Adani Total Gas for supply of CNG Cascades made from Type-IV Composite Cylinder for a total value of Rs. 75 crore (appx). The delivery of these cascades will begin from January 2023.
Puravankara fell 1.01%. The real estate developer said that a meeting of the board of directors is scheduled on 29 December 2022 to consider and approve the proposal for issuance of non-convertible debentures by way of private placement in one or more tranches.
HEG zoomed 7.99%. The graphite electrode manufacturer said that it has incorporated a wholly owned subsidiary company named as TACC Limited on 26 December 2022. TACC Limited would manufacture graphite anode for Lithium-ion cells.
Khadim India fell 3.12%. The footwear maker on Monday (26 December 2022) said that its chief executive officer (CEO) Namrata Ashok Chotrani tendered her resignation. The resignation would be effective from the close of business hours on 23 March 2023.
Laurus Labs declined 1.70%. The pharmaceutical company informed about a flash fire occurred in one of the rooms in one manufacturing block of its API manufacturing plant (Unit-3) in the state of Andhra Pradesh.
G R Infraprojects shed 1.43%. The civil construction company on Monday announced that it has received two completion certificates for Madhya Pradesh-based projects awarded under the Bharatmala Pariyojana on EPC mode.
DEV Information Technology (DEV IT) rallied 13.07%. The company said it has sold 5.45% of its equity holding in Dev Accelerator (DevX), a managed co-working space business, at a valuation of Rs 104 crore.
Bank of Maharashtra surged 6.45%. The state-backed lender said that it has raised Rs 880 crore through allotment of basel III compliant additional tier 1 (AT1) bonds to 9 allottees upon receipt of application money.
Capacite Infraprojects rose 1.16%. The company received a construction order worth Rs 695 crore from Saifee Burhani Upliftment Trust (SBUT). The order is for construction of core and shell work at sector 04 of SBUT project located at Ward 'C' at Bhendi Bazaar in Mumbai.
Global Markets:
Shares in Europe advanced while Asian stocks traded mixed on Tuesday after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing COVID-19.
Markets in some regions including Hong Kong and Australia remain shut on Tuesday.
China will stop requiring inbound travellers to go into quarantine starting from January 8. It will also downgrade the seriousness of COVID-19 as it has become less virulent and will gradually evolve into a common respiratory infection.
The U.S. and European markets were closed on Monday for Christmas holidays.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
