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Sensex, Nifty See Modest Gains On First Trading Day Of The Year
(RTTNews) - Indian shares ended Monday's range-bound session modestly higher after the release of auto sales and manufacturing data.
While automakers reported a mixed set of sales figures for December, survey results from S&P Global showed that India's manufacturing output hit a 13-month high in December as business conditions improved to the greatest extend in over two years.
The survey revealed that Indian manufacturers were optimistic about output expectations in the year ahead amid hopes of buoyant demand and fruitful advertising.
There were no major global triggers as most Asian and European markets were closed for New Year holidays.
China reported disappointing manufacturing and service sector data for December, while another survey showed the intensity of the eurozone manufacturing sector downturn eased in the final month of 2022.
Closer home, the benchmark S&P BSE Sensex ended the session up 327.05 points, or 0.54 percent, at 61,167.79 while the broader NSE Nifty index settled 92.1 points, or 0.51 percent, at 18,197.45.
Both Sensex and Nifty rose over 4 percent in 2022 despite a challenging global macro environment.
Metal stocks topped the gainers list today, with Hindalco, Tata Steel and SAIL rallying 3-8 percent, after China announced it would raise export duty on metals.
NMDC jumped 2.4 percent after raising prices of iron ore products. Automaker Tata Motors gained 1.8 percent and private sector lender ICICI Bank added 1.4 percent.
On the flip side, Hero MotoCorp, Bajaj Auto, Asian Paints, Titan Company and Divis Laboratories all fell around 1 percent.
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