Domestic Stocks Markets closed with strong gains; Sensex achieves 48,000 mark; & Nifty crosses 14,000 level

Benchmark domestic equity indices on Monday, January 4, 2021, continued their record-setting rally in intra-day trade amid positive global cues. Both stocks hit fresh lifetime highs as the Sensex at Bombay Stock Exchange achieved 48,000 mark for the first time while the Nifty at National Stock Exchange crosses 14,100 level.

The Sensex closed 307.82 points or 0.64 per cent higher at 48,176.80. The Nifty 50 added 114.40 points or 0.82 per cent to close at 14,132.90. However, Nifty Bank settled 13.40 points or 0.04 per cent lower at 31,212.45.

The broader market at the BSE also gained underperforming the Sensex. The Mid-Cap index rose 1.42 per cent while the Small-Cap index added 1.37 per cent.

Buyers outpaced sellers. On the BSE, 2100 shares rose and 988 shares fell. On the Nifty 50 index, 37 stocks gained, while 12 stocks declined and 1 remain unchanged. The top five gainers on Nifty 50 were Tata Steel (up 8.37 per cent), Hindalco (up 6.090 per cent), Eicher Motor (up 4.34 per cent), ONGC (up 4.08 per cent) and TCS (up 3.91 per cent). The top five losers were Hero MotoCorp (down 1.63 per cent), Kotak Mahindra Bank (down 1.21 per cent), Bajaj Finance (down 1.19 per cent), Adani Ports (down 1.14 per cent) and Asian Paint (down 0.78 per cent).

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 8,51,23,361 with 18,43,143 deaths. India reported 2,43,953 active cases of COVID-19 infection and 1,49,649 deaths while 99,46,867 patients have been discharged, data showed.

Drugs Controller General of India, DCGI has approved for restricted use in an emergency situation of two COVID-19 vaccines- Serum Institute of India's Covishield and Bharat Biotech's Covaxin. The announcement for granting permission to these two vaccines was made by the Drug Controller General of India VG Somani during a press conference on Sunday. COVISHIELD has been developed at the Serum Institute of India's Pune laboratory with a master seed from Oxford University and AstraZeneca.

The DCGI said, the Central Drugs Standard Control Organisation (CDSCO) gave its approval followed by the recommendation of the Subject Expert Committee (SEC) that recommended both the vaccines for emergency use.

Prime Minister Narendra Modi has said that the grant of approval by DCGI to the vaccines of Serum Institute of India and Bharat Biotech, accelerates the road to a healthier and COVID-free nation. Congratulating the nation and the hardworking scientists and innovators of the country, Mr Modi said in a tweet that it is a turning point to strengthen the spirited fight. He said, it would make every Indian proud that the two vaccines that have been given emergency use approval are made in India. The Prime Minister said that this shows the eagerness of our scientific community to fulfil the dream of an Aatmanirbhar Bharat, at the root of which lies care and compassion.

Indian Manufacturing PMI

The seasonally adjusted IHS Markit India Manufacturing PMI was at 56.4 in December, a tick higher than November's reading of 56.3 and above the critical 50.0 thresholds for the fifth straight month.

Chinese manufacturing activity

A private survey released on Monday showed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing PMI for the month coming in at 53.0. That compared against November's reading of 54.9.

Japan Manufacturing PMI

The final au Jibun Bank Japan Manufacturing PMI rose to a seasonally adjusted 50.0 in December from the previous month's 49.0 and a preliminary 49.7 reading.

Elections in Georgia for two U.S. Senate seats

Investors are cautiously watching runoff elections in Georgia for two U.S. Senate seats on Tuesday that will determine which party controls the Senate.

Australian home prices

Australian home prices rose for a third straight month in December, capping a wild year in which prices dipped during the first Covid-19 outbreak, before rebounding strongly as the economy reopened. House values in major cities rose 0.9 per cent last month, data released on Monday showed. For the year, prices gained 2 per cent, defying concern home values would plunge after coronavirus lockdowns pushed Australia into its first recession in almost three decades.