As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 327.05 points or 0.54% to 61,167.79. The Nifty 50 index added 92.15 points or 0.51% to 18,197.45.
In the broader market, the S&P BSE Mid-Cap index rose 0.57% while the S&P BSE Small-Cap index gained 0.84%.
The market breadth was strong. On the BSE, 2,314 shares rose and 1,295 shares fell. A total of 179 shares were unchanged.
Economy:
The S&P Global India Manufacturing PMI climbed to 57.8 in December 2022 from 55.7 in the prior month, pointing to the highest reading since October 2020 and marking the 18th straight month of expansion.
Output growth hit a 13-month high, new orders rose the most since February 2021, and buying levels grew at the strongest pace since May 2020. Also, employment gained for the tenth month in a row, while an accumulation in outstanding business slowed. Cost pressures were muted, with the rate of inflation little-changed and the second-slowest since September 2020. On the other hand, selling price inflation outpaced that seen for input costs for the first time in near 2-1/2 years.
Meanwhile, the gross goods and services tax (GST) collection for December stood at Rs 1,49,507 crore, the data released by the finance ministry showed. This is a surge of 15% year-on-year, mainly driven by increase in retail prices of consumption items, high inflation, and action taken to ensure compliance.
IPO Update:
The initial public offer (IPO) of Sah Polymers received bids for 99,64,290 shares as against 56,10,000 shares on offer, according to stock exchange data at 15:33 IST on Monday (2 January 2023). The issue was subscribed 1.78 times.
The issue opened for bidding on Friday (30 December 2022) and it will close on Wednesday (4 January 2023). The price band of the IPO is fixed at Rs 61-65per share. An investor can bid for a minimum of 230 equity shares and in multiples thereof.
New Listing:
Shares of Homesfy Realty settled at Rs 288.80 on the NSE, a premium of 46.60% compared with the issue price of Rs 197.
The scrip was listed at Rs 275.05, representing a premium of 39.62% compared with the IPO price.
So far, the scrip hit a high of Rs 288.80 and a low of Rs 263. Over 4,61,400 shares of the company have changed hands in the counter till now.
December Auto Sales Impact :
Tata Motors advanced 1.83% after the company's total domestic sales for December 2022 stood at 72,997 vehicles, up by 10% compared with 66,307 units sold during December 2021.
Mahindra & Mahindra (M&M) rose 1.14% after the company said that its overall auto sales for the month of December 2022 stood at 56,677 vehicles, registering a growth of 44.74% as against 39,157 vehicles sold in December 2021.
Further, M&M's Farm Equipment Sector (FES) announced its tractor sales numbers for December 2022. The company's total tractor sales (domestic + exports) surged 27% YoY to 23,243 units in December 2022 from 18,269 units sold in December 2021.
Bajaj Auto slipped 1.06% after the company reported 22% fall in total auto sales to 2,81,486 units in December 2022 as compared with 3,62,470 units sold in December 2021.
Maruti Suzuki India was up 0.03%. The company said that it had sold a total of 139,347 units in December 2022, which is lower by 9% as compared with 153,149 units sold in December 2021.
TVS Motor Company fell 1.13% after the company's total sales declined by 3.58% in December 2022 with sales of 242,012 units as against 250,993 units in December 2021.
Eicher Motors added 0.06%. The 2/3 wheeler maker said that its total sales (including domestic, exports, trucks and buses) stood at 7,221 units, up by 17.3% compared with 6,154 units in December 2021. Meanwhile, the company's total motorcycles (Royal Enfield) sales shed 7% to 68,400 units in December 2022 from 73,739 units sold in December 2021.
Escorts Kubota rose 0.39%. The company's Agri Machinery Segment sold 5,573 tractors in December 2022, registering a growth of 18.7% as compared with 4,695 tractors sold in December 2021. Escorts Kubota's Construction Equipment Segment in December 2022 sold 423 machines as against 377 machines sold in December 2021, recording a growth of 12.2%.
Hero Motocorp was down 0.61%. The two-wheeler major sold 394,179 units in December 2022, sliding 0.15% over the corresponding month of the previous year.
Ashok Leyland rose 3.77% after the company's total sales (including domestic and exports) for December 2022 stood at 18,138 units, up by 45% as against 12,518 units in December 2021.
Global Markets:
The Dow Jones index futures were down 60 points, indicating a negative opening in the US stocks today.
European shares advanced in the first trading session of 2023 on Monday. Most Asian indices were shut for public holiday.
U.S. stocks ended slightly lower on Friday to book their worst annual losses since 2008 amid worries about the economic and corporate earnings outlook.
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