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Updated on: Tuesday, December 28, 2021, 09:25 AM IST

Stock market indices open higher: Sensex up 300 points, Nifty above 17,100

At the openeing bell, major gainers on the Nifty were ONGC, IndusInd Bank, HDFC, L&T and Infosys. The early losers were Nestle India, Cipla, Tech Mahindra and HUL. /Representational image | ANI Photo

At the openeing bell, major gainers on the Nifty were ONGC, IndusInd Bank, HDFC, L&T and Infosys. The early losers were Nestle India, Cipla, Tech Mahindra and HUL. /Representational image | ANI Photo

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The stock market indices opened buoyant on December 28. At 09:16 AM, the Sensex was up 329.81 points or 0.57 percent at 57,750.05. The broader Nifty was up 95.50 points or 0.56 percent at 17,181.80. About 1,598 shares have advanced, 286 shares declined, and 68 shares are unchanged.

At the openeing bell, major gainers on the Nifty were ONGC, IndusInd Bank, HDFC, L&T and Infosys. The early losers were Nestle India, Cipla, Tech Mahindra and HUL.

Nifty erased morning losses and came into positive territory post noon on December 27. At close Nifty was up 0.49 percent or 82.5 points at 17,086.2.

Nifty rose after a down day in the previous session. Advance decline ratio is positive. Volumes in the markets remain very low. 17,156-17004 remains the band for the near-term for the Nifty and breach either side could see momentum accelerating on that side, said Jasani. However in low volumes sharp moves on either side seem unlikely.

Stocks to watch out for

Some stock specific actions can be witnessed in stocks such as Mahindra Logistics (deal to acquire Meru), MOIL (plans to buy back up to 3.38 crore shares at Rs 205), Ajanta Pharma (consider a proposal for buyback of its shares).

Asian stocks up in early trade

Most Asian stocks rose Tuesday after another all-time high for US. shares on optimism that the global recovery can weather risks from the coronavirus and tightening monetary policy.

On Tuesday, Japan's Nikkei gained 1.1 percent, and touched its highest since November 26. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.23 percent, Reuters said.

US stocks close higher

US stock benchmarks finished higher Monday, as consumer spending during the holidays and gains in technology and energy shares helped to push the S&P 500 to records. Equity indexes booked gains even as travel-related names slumped after surging COVID-19 cases triggered hundreds of US flights to be scrapped over the holiday weekend.

Overnight the S&P 500 index rose 1.38 percent to end at a record on Monday as strong US retail sales underscored economic strength, while the Dow Jones Industrial Average climbed 0.98 percent and the Nasdaq Composite added 1.39 percent. The risk-on mood could be seen across asset classes, Reuters said.

While travel was a mess, the retail side of the economy appeared to be holding up, with Mastercard Spending Pulse reporting that holiday sales rose 8.5 percent against a year earlier, the biggest annual gain in 17 years.

India's exports up

India’s exports rose by 36.2 percent to $23.82 billion during December 1-21 this year YoY and up 27.7 percent compared to the same period in 2019-20, according to preliminary data of the commerce ministry. Exports, excluding petroleum, have increased by 28.08 per cent during the period under review.

Oil prices extend gains

Oil prices cautiously extended gains on Tuesday, after surging more than 2 percent to their highest in a month a day before, Reuters said. Brent crude rose 0.1 percent to $78.67 a barrel and US crude gained 0.25 percent to $75.75 a barrel.

Petrol, diesel prices unchanged

Petrol and diesel prices remained unchanged today (December 28). The Delhi government reduced the value-added tax on petrol from 30 percent to 19.40 percent. A litre of petrol now costs Rs 95.41 in Delhi, and diesel Rs 86.67 per litre.

Petrol prices remains the highest in Mumbai across all metro cities. In Mumbai, petrol is available at Rs 109.98 per litre, and diesel at Rs 94.14 per litre. In Chennai, petrol is retailed at Rs 101.40 while diesel is sold at Rs 91.43 per litre. In Kolkata, the price of a litre of petrol is Rs 104.67 while for diesel it is Rs 89.79 per litre.

Dollar loses ground to other currencies

The safe-haven yen slipped to 114.87 per dollar, having touched a one-month low earlier in the session. The dollar, also a safe haven, in turn lost ground on other currencies, for example the pound, which gained 0.5 percent on Monday and last traded near a five-week high of $1.3445, Reuters said.

Supriya Lifescience to make market debut

Supriya Life science IPO will list on bourses today. The equity shares of Supriya Lifescience Limited shall be listed and admitted to dealings on NSE and BSE in the list of 'B' Group of Securities in a Special Pre-open Session, according to information on BSE website.

Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients, with a focus on research and development.

Four stocks under F&O ban

Four stocks - Escorts, Indiabulls Housing Finance, Vodafone Idea, and RBL Bank - are under the F&O ban today (December 28).

(With inputs from agencies)

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Published on: Tuesday, December 28, 2021, 09:25 AM IST
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