Sensex gains 312 pts, Nifty near 21,750, European mkt opens higher

The benchmark indices traded with decent gains in afternoon trade. The Nifty traded near the 21,750 mark. Oil & gas, PSU bank and metal stocks were in demand while media and consumer durables shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 312.05 points or 0.43% to 72,350.48. The Nifty 50 index advanced 92.30 points or 0.43% to 21,747.05.

The benchmarks, Nifty50 and Sensex hit a fresh all-time high of 21,776.90 and 72,435.70 respectively. Further, the Nifty Bank index also registered its fresh record high today at 48,636.45.

In the broader market, the S&P BSE Mid-Cap index gained 0.39% and the S&P BSE Small-Cap index added 0.13%.

The market breadth was negative. On the BSE, 1,763 shares rose and 1,974 shares fell. A total of 136 shares were unchanged.

Gainers & Losers:

Coal India (up 3%), NTPC (up 2.40%), BPCL (up 2.08%), Nestle India (up 2.01%) and Hero MotoCorp (up 1.93%) were major Nifty gainers.

UltraTech Cement (down 0.84%), Eicher Motors (down 0.73%), Asian Paints (down 0.69%), Grasim Industries (down 0.56%) and Maruti Suzuki India (down 0.55%) were major Nifty losers.

Stocks in Spotlight:

Canara Bank rose 2.22%. The bank is in the process of listing its mutual fund subsidiary Canara Robeco Asset Management Company, on the stock exchanges by way of initial public offer (IPO).

Sula Vineyards rallied 4.86%. The company said its wine tourism has achieved new records over Christmas weekend. On December 24th, over 5,000 visitors entered the gates of Sula, a first for a single day. From December 23rd to 25th, visitor numbers also set single-day and three-day records, totaling over 12,000 visitors at Sula�s Nashik and Bengaluru wine tourism facilities.

Zomato declined 2.36% after the company received a show cause notice from the Directorate General of GST Intelligence, Pune Zonal Unit for an alleged tax liability of Rs 401.70 crore along with interest and penalty thereon.

Larsen & Toubro (L&T) shed 0.10%. The EPC major announced that its construction arm has secured large orders for its power transmission & distribution business in the Middle East region. As per L&T classification, the value of the �Large� project lies between Rs 2,500 crore to Rs 5,000 crore.

Global Markets:

Markets in Europe and Asia advanced on Thursday.

On Wednesday, US stocks closed higher, with the S&P 500 inching up to 4,781.58 and the Nasdaq Composite adding to 15,099.18. The Dow Jones Industrial Average also rose by 111.19 points to close at 37,656.52.

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