The benchmark indices traded in a range during mid-morning trade. Buying was wide spread. However, pharma and healthcare stocks corrected after a recent rally. The Nifty continued to trade above 17,500 level.
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 580.10 points or 1% at 58,833.92. The Nifty 50 index surged 167.25 points or 0.96% at 17,521.30.
In the broader market, the S&P BSE Mid-Cap index rose 0.84% while the S&P BSE Small-Cap index gained 1.13%.
The market breadth was strong. On the BSE, 2,657 shares rose and 748 shares fell. A total of 142 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 575.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,165.62 crore in the Indian equity market on 31 December 2021, provisional data showed.
Economy:
The central government's fiscal deficit at the end of November 2021 narrowed down to Rs 6.96 lakh crore ($93.7 billion) or 46.2% of the annual budget target for the FY2021-22 as a result of an improvement in the revenue collection, according to official data released on Friday, 31 December 2021. The deficit figures in the current financial year till November 2021 were better than the previous financial year when it had soared to 135.1% of the estimates mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.
In April-November, net tax receipts were at Rs 11.35 trillion while the total expenditure stood at Rs 20.75 trillion, the data showed.
In actual terms, the deficit stood at Rs 6,95,614 crore at the end of November 2021 against the annual estimate of Rs 15.06 lakh crore, according to data released by the Controller General of Accounts (CGA). For the current financial year, the government expects the deficit at 6.8% of GDP or Rs 15,06,812 crore.
As per RBI's official press release, India's forex reserves decreased by $587 million to $635.08 billion for the week ended 24 December 2021. In the previous week ended 17 December 2021, the overall reserves had decreased by $160 million to $635.667 billion.
GST Collection for December 2021:
The GST revenue collected in December 2021 was Rs 1,29,780 crore, or 13% higher than the same month last year, the Finance Ministry said on Saturday, 1 January 2022. Though the collection was lower than Rs 1.31 lakh crore mopped up in November 2021, the December month was the sixth month in a row when revenue from goods sold and services rendered stood at over Rs 1 lakh crore.
The gross GST revenue collected in the month of December 2021 stood over Rs 1.29 lakh crore, of which CGST was Rs 22,578 crore, SGST was Rs 28,658 crore, IGST was Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and cess was Rs 9,389 crore (including Rs 614 crore collected on import of goods).
Buzzing Index:
The Nifty Bank index rose 1.33% to 35,954.60. The index added 2.59% in the three trading sessions.
AU Small Finance Bank (up 3.17%), Axis Bank (up 2.03%), IDFC First Bank (up 1.76%), HDFC Bank (up 1.70%) and ICICI Bank (up 1.69%) were the top gainers in the Bank segment.
RBL Bank rose 1.14%. The bank's total deposits rose 9.61% to Rs 73,637 crore as on 31 December 2021 as against Rs 67,184 crore as on 31 December 2020. However, the bank's total deposits have declined by 2.58% from Rs 75,588 as on 30 September 2021. CASA Ratio was 34.4% as on 31 December 2021 as compared with 31.1% as on as on 31 December 2020 and 35.4% as on 30 September 2021. Retail Deposits and Deposits from Small Business customers as a percentage of total deposits were 37.8% as on 31 December 2021 as against 36.3% as on as on 31 December 2020 and 41.6% as on 30 September 2021. Certificates of Deposit (CDs) as of 31 December 2021 was Rs 4,285 crore as against Rs 3,650 crore as of 30 September 2021.
Stocks in Spotlight:
NMDC rose 0.79%. The PSU miner's iron order production rose 2.33% to 3.95 MT in December 2021 as against 3.86 MT in December 2020. Meanwhile, provisional iron ore sales aggregated to 3.4 MT in December 2021 as against 3.54 MT in December 2020, down by 4% year on year.
Avenue Supermarts rose 1.51%. Avenue Supermarts (DMart) has reported a standalone revenue of Rs 9,065 crore in Q3 December 2021 (Q3 FY22), up 21.96% from Rs 7,432.69 crore reported in the same quarter last year. The revenue is higher than Rs 6,751.94 crore reported in Q3 December 2019 and Rs 5,450.94 crore in Q3 December 2018. The total number of DMart stores as of 31 December 2021 stood at 263. Mumbai-based Avenue Supermarts owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof.
NCC advanced 2.42% after the company received five new orders totalling to Rs 1,898 crore in the month of December 2021. Out of the five orders received NCC said three orders of Rs 988 crore pertain to building division and balance two orders of Rs 910 crore pertain to water division. The orders are received from State Government agencies and do not include any internal orders.
Global Markets:
Asian stocks were mixed on Monday, 3 January 2022 as trading in 2022 kicked off. Markets in mainland China and Japan are closed on Monday for a holiday.
Singapore's economy grew slightly more than expected in the fourth quarter from a year earlier, preliminary data showed on Monday. Gross domestic product (GDP) expanded 5.9% in October-December on a year-on-year basis, the Ministry of Trade and Industry said in a statement.
U.S. stocks finished their final trading session of the year lower, capping off a record-setting 2021 that came despite the persistent headwinds of COVID-19.
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