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Indices edged higher in early trade; breadth strong

Published on Jan 02, 2023 09:28

The key equity benchmarks traded with small gains in early trade. The Nifty traded above the 18,100 mark. Metal, auto and oil & gas shares advanced while pharma, health care and media stocks declined.

At 09:25 IST, the barometer index, the S&P BSE Sensex, was up 82.7 points or 0.14% to 60,923.44. The Nifty 50 index added 19.25 points or 0.11% to 18,124.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.25% while the S&P BSE Small-Cap index gained 0.32%.

The market breadth was strong. On the BSE, 1,775 shares rose and 867 shares fell. A total of 117 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,950.89 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,266.20 crore in the Indian equity market on 30 December, provisional data showed.

Stocks in Spotlight:

Tata Motors advanced 0.98%. The auto major on Friday said that the acquisition of Ford India`s (FIPL) manufacturing plant at Sanand, through its subsidiary, Tata Passenger Electric Mobility (TPEML) will be completed on 10 January 2023.

Aster DM Healthcare was up 0.43%. Aster DM Healthcare said that it has entered into a hospital operation and management agreement (O&M) with Vritika Hospitals (VHPL) & Bharathi Education Trust, for operating and managing G. Madegowda Super Specialty Hospital.

RITES rose 0.81%. RITES signed a memorandum of understanding (MoU) with KIIFCON to jointly explore, identify, secure and execute consultancy projects.

Global markets:

Asian stocks were trading mixed on Monday. Markets in Australia, mainland China and Japan are closed on Monday for New Year holiday.

U.S. stocks ended slightly lower on Friday to book their worst annual losses since 2008 amid worries about the economic and corporate earnings outlook.

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