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Key gauges continue to trade in fine fettle

26 Dec 2023 Evaluate

Indian equity benchmarks were trading in fine fettle in last leg of trade as traders opted to buy index heavy-weights buying in Reliance Industries, HDFC Bank, Axis Bank. Sentiments got some support with report that credit rating firm Fitch Ratings expects that India’s resilient economic growth will boost demand of the corporates. Meanwhile, foreign portfolio investors (FPIs) have injected over Rs 57,300 crore into the Indian equity markets this month so far owing to political stability, robust economic growth, and a steady decline in the US bond yields. However, gains remain capped as crude oil prices nudged higher as investors focused on geopolitical tensions in the Middle East and optimism the U.S. Federal Reserve would soon start cutting interest rates, lifting global economic growth and fuel demand.

On the global front, most of the Asian counters were trading in green in thin trade on Tuesday, with some markets closed for holidays. Japanese shares eked out modest gains as the yen steadied near its recent five-month peak on expectations that the Bank of Japan (BOJ) could soon mark an end to its ultra-easy policy. European markets remain closed for Christmas holiday on Tuesday.

Back home, the BSE Sensex is currently trading at 71342.40, up by 235.44 points or 0.33% after trading in a range of 71012.08 and 71471.29. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.62%, while Small cap index was up by 0.36%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 1.53%, PSU up by 1.50%, Energy up by 1.31%, Basic Materials up by 1.30% and Utilities up by 1.14%, while IT down by 0.44%, Realty down by 0.36% and TECK down by 0.29% were the top losing indices on the BSE.

The top gainers on the Sensex were Wipro up by 1.97%, NTPC up by 1.92%, Mahindra & Mahindra up by 1.63%, Tata Steel up by 1.50% and Kotak Mahindra Bank up by 1.42%. On the flip side, Bajaj Finance down by 1.69%, Infosys down by 1.09%, Bajaj Finserv down by 1.07%, Tata Motors down by 0.99% and TCS down by 0.69% were the top losers.

Meanwhile, Union Minister Nitin Gadkari has said that increasing exports and reducing imports is the new way ahead for patriotism and ‘swadeshi’, and it will be a ‘new freedom’ for India when not a drop of petrol or diesel is imported. He also said stopping the import of petrol and diesel was linked to arresting terrorism in the world.

The minister asserted that ‘the import bill for petrol and diesel stands at Rs 16 lakh crore now. If we reduce this import, the money we save will go to the poor. That is why we have introduced alternative fuels like bio fuel. Reduction in imports and increase in exports is the way forward for patriotism and swadeshi’. He further said the size of the automobile industry in India was Rs 7 lakh crore when he took over (in 2014) and now it was Rs 12.5 lakh crore, adding the sector gives employment to 4.5 crore people. It is the industry that gives highest GST to state governments and the Centre.

Asserting that the country's automobile industry would be number one in the world in the next five years, Gadkari said ‘maximum imports are happening in the automobile industry. If we want to become vishwaguru (world leader) and $5 trillion economy, then we have to become number one in exports.’ He noted that three months ago, India jumped from seventh position to third in the automobile exports sector, surpassing powerhouses like Japan.

The CNX Nifty is currently trading at 21454.50, up by 105.10 points or 0.49% after trading in a range of 21329.45 and 21477.15. There were 42 stocks advancing against 8 stocks declining on the index.

The top gainers on Nifty were Divi's Lab up by 4.99%, Hero MotoCorp up by 2.91%, Wipro up by 2.09%, NTPC up by 1.95% and Mahindra & Mahindra up by 1.82%. On the flip side, Bajaj Finance down by 1.77%, Infosys down by 1.17%, Bajaj Finserv down by 1.08%, Tata Motors down by 0.91% and TCS down by 0.60% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 51.82 points or 0.16% to 33,305.85, Taiwan Weighted added 146.89 points or 0.83% to 17,751.73, Straits Times rose 2.78 points or 0.09% to 3,143.10 and KOSPI increased 3.08 points or 0.12% to 2,602.59. However, Shanghai Composite weakened 19.93 points or 0.69% to 2,898.88.

SEBI Registered: Investment Adviser - INA000013323

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity - May 16, 2019 - Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Warning: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Disclaimer: Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provides any assurance of returns to investors.

Compliance Officer:

Name: Shrikant Jagtap

Email: shrikant.jagtap@moneyworks4me.com

Mobile No: +91 97638 00745

Grievance Officer:

Name: Mukta Vaze

Email: mukta.vaze@moneyworks4me.com

Mobile No:+91 98609 19463

Principal Officer:

Name: Atharva Bhide

Email: atharva.bhide@moneyworks4me.com

Mobile No:+91 91758 99463

SEBI regional/local office address -

Plot No. C 4-A , G Block, Near Bank of India, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051

Address:

The Alchemists Ark Pvt. Ltd., B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

*Color code for outperformance consistency

*Number is average 3 year rolling returns

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