The domestic equity benchmarks traded near the day's low with moderate losses in morning trade. Negative global cues dented the investors sentiment. The Nifty traded a tad below the 18,700 level. PSU bank, media and realty stocks were in demand while auto, financial services and pharma stocks witnessed a bit of a selling pressure.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 395.27 points or 0.62% to 62,888.92. The Nifty 50 index shed 113.60 points or 0.60% to 18,698.90.
The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.35% while the S&P BSE Small-Cap index added 0.34%.
The market breadth was positive. On the BSE, 1,816 shares rose and 1,327 shares fell. A total of 170 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,565.93 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,664.98 crore in the Indian equity market on 1 December, provisional data showed.
Economy:
The gross GST revenue collected in the month of November 2022 is Rs 1,45,867 crore of which CGST is Rs 25,681 crore, SGST is Rs 32,651 crore, IGST is Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and Cess is Rs 10,433 crore (including Rs 817 crore collected on import of goods). The revenues for the month of November 2022 are 11% higher than the GST revenues in the same month last year, which itself was Rs 1.31,526 crore. During the month, revenues from import of goods were 20% higher and the revenues from domestic transaction (including import of services) are 8% higher than the revenues from these sources during the same month last year.
Buzzing Index:
The Nifty Auto index declined 1.18% to 13,035.60. The index fell 1.48% in two trading sessions.
Eicher Motors (down 2.46%), Ashok Leyland (down 2.19%), Bajaj Auto (down 1.62%), Mahindra & Mahindra (down 1.5%), TVS Motor Company (down 1.3%), Hero MotoCorp Ltd (down 0.88%), MRF (down 0.88%), Maruti Suzuki India (down 0.85%), Balkrishna Industries (down 0.8%) and Bharat Forge (down 0.58%) edged lower.
Eicher Motors slipped 2.46%. The company's total motorcycles (Royal Enfield) sales jumped 37% to 70,766 units in November 2022 from 51,654 units sold in November 2021. While sales of motorcycle models with engine capacity up to 350cc surged 52% to 65,956 units, sales of motorcycle models with engine capacity exceeding 350cc skid 42% to 4,810 units in November 2022 over November 2021. The International Business recorded sales of 5,006 units in November 2022, which is lower by 27% as compared with 6,824 units sold in November 2021.
Hero MotoCorp shed 0.88%. The world's largest manufacturer of motorcycles and scooters sold 390,932 units of two-wheelers in November 2022, a growth of 12% over the corresponding month of the previous year. The company's motorcycle sales stood at 3,52,834 units (up 7.18% YoY) and scooters sales were at 38,098 units (up 88.53% YoY) in November 2022. Total domestic rose 15.50% YoY to 3,79,839 units while total exports dropped 45.97% YoY to 11,093 units in November 2022 over November 2021.
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