Sensex, Nifty at the high of the day; India Manufacturing PMI at 55.5 in December


Stock indexes extended their gains and hit a new intraday high in the early afternoon. The Nifty ran to the 17,550 level. With the exception of the Pharmaceuticals space, demand to buy was seen in all areas.

At 12:30 p.m. IST, the barometer index, the S&P BSE Sensex, jumped 670.54 points or 1.15% to 58,924.92. The Nifty 50 index jumped 193.90 points or 1.12% to 17,547.30.

Across the market, the S&P BSE Mid-Cap Index rose 0.99% while the S&P BSE Small-Cap Index gained 1.24%.

The scale of the market was strong. On BSE, 2,683 stocks rose and 781 stocks fell. In total, 145 shares remained unchanged.

COVID-19 Update:

India added 33,750 new cases in the past 24 hours, bringing the active caseload to 1,45,582 patients. The total number of deaths from COVID-19 stood at 481,893. Meanwhile, the country has reported 1,700 new cases of omicron.

West Bengal has imposed a series of new COVID-19-related restrictions from January 3 under which all schools and colleges will remain closed. Restrictive measures have also been imposed on shopping malls, market complexes, restaurants and bars, where only 50% of their total capacity is allowed.

Since its first detection in South Africa last month, the omicron variant has spread across the world and is now present in 106 countries.

Economy:

The IHS Markit India Seasonally Adjusted Manufacturing Purchasing Managers (PMI) Index stood at 55.5 in December, indicating a marked improvement in overall operating conditions that was high by historical standards.

That was despite the sliding headline figure from November’s ten-month high of 57.6. Additionally, the last quarterly reading was at 56.3, its highest since the last quarter of fiscal 2020/21.

Commenting on the latest survey results, Pollyanna De Lima, Associate Director of Economics at IHS Markit, said: “The latest 2021 PMI results for India’s manufacturing sector were encouraging as the economic recovery continued as companies succeeded. to obtain new international sources. Higher sales supported a further upturn in production and companies continued their restocking efforts. and persistent supply chain disruptions. “There were tentative signs that inflationary pressures had started to ease, but companies weren’t particularly convinced that this trend would continue. six months. The vast majority of companies have nevertheless decided to keep their selling prices unchanged, in order to boost sales, with overall charges rising only marginally in December.

Derivatives:

The NSE’s India VIX, a gauge of market expectations for short-term volatility, rose 0.64% to 16.3275. Nifty futures on January 27, 2022 were trading at 17,560, with a 40 point premium over the spot at 17,520.

The Nifty options chain for the January 27, 2022 expiration showed a maximum Call OI of 21.2 lakh contracts at the strike price of 17,500. The maximum OI Put of 33.4 lakh contracts was seen at 17 000 strike price.

Buzz Index:

The Nifty IT Index gained 0.98% to 39,074.80. The index rose 2% in three days.

TCS (+ 1.75%), Mphasis (+ 1.61%), L&T Technology Services (+ 1.47%), L&T Infotech (+ 1.18%), Coforge (+ 1.15%), Mindtree ( + 1.12%) and Infosys (+ 0.8%) were the best winners in the IT space.

Featured Actions:

Coal India rose 4.52% to Rs 152.65 after the major levy of state-run coal stood at 60.7 million tonnes (MT) in December 2021, up 15 , 7% compared to the 52.5 MT recorded the same month last year. The company’s coal production increased 3.3% to 60.2 million tonnes (MT) in December 2021 from 58.3 MT in December 2020.

Transformers and Rectifiers (India) jumped 7.51% to Rs 37.95 after the company said it received orders for transformers for a total contract value of Rs 235 crore from Gujarat Energy Transmission Corporation ( GETCO). With this order, the company’s backlog to date stands at approximately Rs 986 crore.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)


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