MARKET UPDATE: Sensex was up over 100 points at 60,982 levels, while the Nifty50 was near 18,150, up 42 points
Published On: Monday, January 2, 2023 | By: Team KnowMyStock
Indian benchmark indices, which started on a quiet note today(02 January 2023) amid thin global trade, were volatile in the trade as selling in financial services, IT, FMCG, and pharma stocks weighed, while metal stocks lent support. The S&P BSE Sensex was up over 100 points at 60,982 levels, while the Nifty50 was near 18,150, up 42 points. In the broader markets, the BSE MidCap and Smallcap indices gained 0.07 percent and 0.12 percent, respectively. The volatility index, India VIX, advanced nearly 4 percent.
Among individual stocks, MOIL rallied 4 per cent as the company registered best production of 141,321 tonnes in December, 2022. Sales at 1,64,235 tonnes for the month has also registered a growth of around 91 per cent over November, 2022.In addition, Tata Steel gained 3.5 per cent as global brokerage Jefferies turned positive on the sector amid easing Covid-19 curbs in China. The brokerage has 'buy' rating on the stock with a target of Rs 150.
That apart, shares of Tata Motors added 1.6 per cent after the company reported 10 per cent YoY increase in domestic December sales at 72,997 units as against 66,307 units sold last year. Those of Ashok Leyland, meanwhile, zoomed 1.7 per cent as the company's domestic sales zoomed 49 per cent YoY to 1,112 units.
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