Stock Market Overview: Auto and FMCG Stocks Lead Gains, Oil & Gas Stocks Take a Hit
In yesterday’s stock market trends, automotive and FMCG (Fast-Moving Consumer Goods) sectors emerged as the frontrunners, showcasing significant gains. On the flip side, oil and gas stocks faced a downturn, witnessing a notable decline.
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Asian Markets Painted Green, Except Japan
Contrary to the mixed performance seen in various global markets, all major Asian markets, excluding Japan, closed the day on a positive note.
Top Gainers in NIFTY 50
The NIFTY 50 index reflected a positive trend, with notable gains in the following stocks:
- Tata Consumer: Rs 1,086.80, ▲ 4.40%
- Tata Motors: Rs 779.95, ▲ 3.46%
- Bajaj Auto: Rs 6,797.25, ▲ 1.40%
- Adani Enterprises: Rs 2,848.95, ▲ 1.39%
- Eicher Motors: Rs 4,143.50, ▲ 1.26%
Top Losers in NIFTY 50
Conversely, some stocks experienced losses in the NIFTY 50 index:
- BPCL: Rs 450.65, ▼ 3.25%
- ONGC: Rs 205.05, ▼ 1.56%
- SBI: Rs 642.05, ▼ 1.44%
- Coal India: Rs 376.00, ▼ 1.30%
- Infosys: Rs 1,542.90, ▼ 1.26%
Key Market Developments
- Sukanya Samriddhi Yojana (SSY) Interest Rate Hike: The interest rate on SSY has been increased by up to 0.20%.
- Fiscal Deficit Update: The Indian government’s fiscal deficit reached 50.7% of the full-year budget estimate, amounting to Rs 9.07 lakh cr.
- Core Sector Growth: India’s eight core sectors witnessed a growth of 7.8% in November compared to 5.7% in the year-ago period.
- Plastic Exports Dip: Plastic exports from India fell by 5.6% in November, totaling $892 million, according to Plexconcil.
- Pharma Sector Investments: As of September 2023, the government reported Rs 25,813 cr investments and the creation of 56,171 new jobs under the PLI scheme for the pharma sector.
Stock Market Highlights
- Live Session Alert: BSE and NSE have scheduled a special live session on January 20th.
- Gem and Jewellery Exports Decline: Gem and jewellery exports saw a 4.52% YoY decline in November, amounting to Rs 19,018.18 cr, as reported by the Gem and Jewellery Export Promotion Council.
Stocks in Focus
- M&M Tax Fine: Mahindra & Mahindra has been fined Rs 4.12 cr for tax and cess-related issues.
- Power Mech Wins Orders: Power Mech has secured two orders worth Rs 2,192.4 cr in Uttarakhand and Andhra Pradesh.
- Power Grid’s Bond Approval: Power Grid’s board has approved raising up to Rs 2,200 cr through bonds.
- GE T&D’s Order: GE T&D has secured an order valued at Rs 785 cr from UK Grid Solutions Ltd for the supply and manufacturing of HVDC Converter Transformer.
- Tata Consumer Products Merger: Tata Consumer Products announced that the merger scheme with Tata Coffee will come into effect on January 1, 2024.
- PNB’s Fundraising Plans: PNB plans to raise up to Rs 7,500 cr in one or multiple tranches in the upcoming financial year.
- Kalpataru Projects Bags Orders: Kalpataru Projects has secured new orders totaling Rs 3,244 cr along with its overseas subsidiaries and joint ventures.
- Swan Energy’s Fundraising: Swan Energy aims to raise Rs 4,000 cr through the issue of equity shares or any other eligible securities.
- Shakti Pumps’ Order: Shakti Pumps has secured a Rs 258 cr order from the Haryana Renewable Energy Department.
One Day Market Fluctuations
- Gold: ₹63,230, ▼ 0.27%
- Silver: ₹74,101, ▼ 1.68%
- USD-INR Exchange Rate: ₹83.14/USD, ▼ 0.07%
- Dow Jones Index: 37,710.10, ▲ 0.14%
- Nasdaq Index: 15,095.14, ▼ 0.03%
Long-Term Returns Comparison
Past 20 Years
- Sensex (India): ▲ 13.44% p.a.
- Nifty (India): ▲ 13.04% p.a.
- Dow Jones (USA): ▲ 6.63% p.a.
- Nasdaq (USA): ▲ 10.62% p.a.
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