Share Market Live: Sensex ends 929 points higher, Nifty tops 17,600; Bajaj twins top gainers

Benchmark indices were trading sharply higher in the afternoon session. Sensex ended 929 points higher at 59,183.22 and Nifty jumped 271.65 points to end at 17,625.70. 

Earlier, Sensex opened 57 points higher at 58,662 and Nifty gains 33 points to 17,387. The rising number of Covid-19 and Omicron cases in India and the world will dictate the course of the stock market this year, say experts.

Here's a look at the updates of the market action on BSE and NSE today.

16:00 pm: Post market comment by Mohit Nigam, Head - PMS, Hem Securities 

Indian equity indices enticed some more traction and added more points on the streets on the back of solid gains in financial shares and select index heavyweights. Traders remained optimistic after growth of eight core infrastructure industries grew 3.1 percent in November 2021 as against 1.1 percent contraction in the same month last year. 

Sentiments were upbeat as the Finance Ministry said that Goods and Services Tax (GST) revenues grew 13 per cent to over Rs 1.29 lakh crore in December 2021, as compared to Rs 1.15 lakh crore GST revenues in the same month last year, mainly due to pickup in economic activity and anti-evasion steps.

On the technical front, Nifty managed to sustain above 17,600 levels. Immediate support and resistance in Nifty 50 are 17,400 and 18,000 respectively. Bank Nifty immediate support and resistance are 36000 and 37000 respectively.
 

15:30 pm: Sensex ends 929 points higher, Nifty tops 17,600; Bajaj twins top gainers

Sensex ended 929 points higher at 59,183.22 and Nifty jumped 271.65 points to end at 17,625.70.

Bajaj twins were the top gainers on Sensex, advancing over 3.5 per cent, followed by ICICI Bank, Axis Bank, Tata Steel and IndusInd Bank.

14:40 pm: Sensex surges over 1000 points

Benchmark indices were trading sharply higher in the afternoon session. Sensex surged over 1000 points to hit an intraday high of 59,266.39. Nifty jumped over 280 points to hit the 17,646 mark.

14:23 pm: Indices at new intraday high

Sensex surged over 900 points to hit an intraday high of 59,191.80. Nifty jumped over 260 points to cross the 17,600 mark.

13: 54 pm: Sensex zooms over 800 points

Sensex zoomed over 800 points to hit 59,079.09. Nifty surged over 230 points to hit an intraday high of 17,595.05.

Shares of Eicher Motors gained 5 per cent to hit an intraday high of Rs 2,730. 

Mid-sized motorcycle maker Royal Enfield, a part of Eicher Motors, on Saturday reported a 7 per cent increase in total wholesales at 73,739 units in December.

The company had reported sales of 68,995 units in the same month of 2020.

13:22 pm:  Bajaj Auto December auto sales

Bajaj Auto released the sales figure for the month of December on Monday. While commercial sales saw a growth of 29 per cent, two-wheeler sales dropped 6 per cent year-on-year, leading to an overall drop in the sales figure of 3 per cent in December. 

The company clocked domestic sales of 1,27,593 units for two-wheelers in December, as against 1,28,642, which is a drop of 1 per cent. It exported 1,91,176 units in the same month, as against 2,09,942 units, which is a drop of 9 per cent. Overall, Bajaj Auto clocked two-wheeler sales of 3,18,769, as against 3,38,584 units, which is a drop of 6 per cent.

At 13:20 hours, the stock was trading 1.13 per cent higher at Rs 3,287.40 on the Bombay Stock Exchange.

12:46 pm: Sensex zooms over 700 points

Sensex zoomed over 700 points to hit an intraday high of 59,032.50. Similarly, Nifty surged over 200 points to hit 17,579.20.

Bajaj Finserv was the top gainer on Sensex, advancing over 3.25 per cent, followed by Axis Bank, HDFC Bank, ICICI Bank and TCS.

12:01 pm: Market trading higher

The Indian market was trading in the green amid mixed global cues. Sensex was trading 606 points higher at 58,860 and Nifty zoomed 167 points to 17,521.

11: 55 am: Edelweiss Financial stock rises over 4%

Shares of Edelweiss Financial Services Ltd (EFSL) rose 4.87% to Rs 75.40 today after the firm said it has raised over Rs 456 crore  through public issuance of Non-Convertible Debentures (NCDs). EFSL stated that it successfully completed the issuance and allotted 45,62,472 NCDs with the face value of Rs 1,000 each, amounting to Rs 456 crore.

11: 35 am: Market breadth

The market breadth was positive with 2,664 shares trading higher against 745 stocks in the red. 140 shares were unchanged.

11:30 am: Sectoral gainers

On the sectoral front, capital goods, banking and IT shares led the gains. BSE capital goods index rose 361 points, BSE bankex gained 500 points and BSE IT index climbed 500 points. All 19 BSE sectoral indices ended in green.

11: 15 am: Expert's  quote

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The biggest support to the global market rally is coming from the mother market US which is on a secular rally. S&P 500 has rallied spectacularly from the low of 666 in 2009 to 4766 now. In 2021 S&P 500 appreciated 26.9%, a tad above Nifty's 24.12%. So, the trend is US has to be carefully watched.

Investors should prepare for modest returns in 2022 with outperformance expected from financials, IT, telecom and construction related segments."

10: 45 am: Tata Motors stock on a roll

Tata Motors share rises 3.59% to Rs 499.70 as the auto giant reported a 50 percent jump in total passenger vehicle sales to 35,299 units in December 2021. The company had sold a total of 23,545 units in the same month a year ago.

10: 30 am: Market outlook

Brokerage Geojit in a note said,"Continued upsides, aiming 17600 is the favoured move. But inability to float above 17345 could signal decline in momentum. Subsequent turn lower, would not be deep as long as 17285 hold."

10:15 am: Market cap of BSE-listed firms climbs to Rs 268.19 lakh crore.BSE midcap and small cap indices rise 159 points and 280 points, respectively.

10:00 am: Equity market extends gains

Sensex trading 491 points higher and Nifty rises 133 points 17,487.

9: 25 am: Sensex gains 264 points to 58,518 and Nifty rises 86 points to 17,441. Maruti share was the top Sensex gainer, rising 1.64% followed by Wipro, L&T, Asian Paints and Tech Mahindra.

9:17 am: Market opens in green

Indian equity market opens higher amid mixed global cues. Sensex opens 57 points higher at 58,662 and Nifty gains 33 points to 17,387.

9: 10 am: Expert comment

Mohit Nigam, Head - PMS, Hem Securities said, "Auto stocks will be in focus today, as they will react to monthly sales data released over the weekend. The data, so far, has indicated that the chip shortage is gradually easing. The market will keep a close watch on Covid cases and fresh restrictions. If these go up significantly, it may keep the market volatile. The market will closely watch Markit Manufacturing PMI numbers for December which will be released today.

On the technical front, Nifty is managing to sustain above 17300 levels from past few sessions which would ultimately lead the index to 17,500 levels in near term.  Immediate support and resistance in Nifty 50 are 17,150 and 17,500 respectively. Bank Nifty's immediate support and resistance are 34,500 and 36,000, respectively."

8:45 am: Rupee in 2021

The rupee gained 13 paise to close at 74.29 against the US dollar in the last trading session of 2021. However, the rupee ended 2021 with loss of 122 paise or 1.67 per cent. The Indian currency closed at 73.07 on December 31, 2020.

8: 30 am: Global markets

In Asia, Kospi was trading 9 points higher at 2,986. Nikkei fell 115 points to 28,791 and Hang Seng index declined 47 points to 23,349.

On Wall Street, the S&P 500 ended 12 points lower at 4,766, the Nasdaq lost 96 points to 15,644 and the Dow Jones fell 59 points to 36,338.

8:15 am: Tracking Sensex, Nifty in 2021

Sensex gained 21.99% (10,502 points) and Nifty rose 24.12% (3,372 points) in 2021.

8:10  am: FIIs in action

Foreign institutional investors (FIIs) bought shares worth Rs 575 crore on December 31, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,165 crore, as per provisional data available on NSE.

8: 00: Previous session updates

Sensex rallied over 450 points led by strong gains in Maruti, SBI and Bajaj Finance in the last trading day of 2021.  Sensex gained 459.50 points to end at 58,253 and Nifty rose 150 points to 17,354. Titan was the top Sensex gainer, rising 3.5 per cent, followed by Kotak Bank, SBI, Maruti Suzuki, Bajaj Finance, HUL, Axis Bank and Sun Pharma. NTPC, Tech Mahindra, PowerGrid and Infosys were the only losers, falling up to 1.97%. Market cap of BSE-listed firms rose to Rs 266 lakh crore on December 31.