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Domestic stocks started the new year solidly despite mounting Covid-related restrictions after a triple jump in weekly cases. Analysts believe that while Omicron is spreading rapidly, the market does not expect a restriction in economic activity that will affect growth and earnings. Multiplex shares fell due to the closing of movie theaters in select places on Covid curbs. Most auto stocks were trading companies after the December sales data.
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Ashok Leyland sales receipt 2 pc to 12,518 units in December 2021
Ashok Leyland, Hinduja’s flagship company, reported a 2 percent drop in total commercial vehicle sales on Monday to 12,518 units in December 2021. The company had sold 12,760 units in the same month in 2020, Ashok Leyland said in a statement. Domestic sales declined 3 percent to 11,493 units in the month under review, from 11,855 units in December 2020.
Outlook for the automotive sector by LKP Securities
- Despite a mixed December, we expect a decent FY22 on a very low base from H1FY21.
- Given healthy double-digit growth in YTD FY22, we believe Wave 2’s impact on resumes is softening. 2Ws and tractors could grow mid-single digits in FY 22, while PVs and CVs are expected to grow close to 10% and 20-25%, respectively. Therefore, FY22 is expected to outperform FY21, provided Omicron’s impact is not huge.
- Specifically for equities, we prefer Bajaj Auto (#1 in 2W export markets) in the 2Ws as growth is well driven by exports and 3Ws, while on the PV side we believe MSIL is pricey in valuations, given the offer additional conundrum and delay in EV plans.
- Tata Motors sees a strong PV business along with a very healthy uptick in MHCVs and improvement in JLR business. Any short-term dip in these stocks (driven by pandemic, supply chain issues, etc.) will present investors with good opportunities to enter into these stocks from a medium to long-term perspective.
Edelweiss Financial Services raises over Rs 456 cr through NCDs
Edelweiss Financial Services said Monday it has raised Rs 456.24 crore through the issuance of non-convertible bonds (NCDs). The company has allocated 45,62,472 NCDs with a face value of Rs 1,000 each, according to a press release. The non-bank lender had decided to close the issuance early on December 22, 2021, as opposed to its planned closure on December 27, 2021, the release said.
Production PMI at 55.5 in December
The Manufacturing Purchasing Managers’ Index, compiled and collected by IHS Markit December 6-17, fell to 55.5 in December from 57.6 in November, though it remained above 50 separating growth and contraction for a sixth month.
Sensex increases by 600 points
Revenue example: IT sector (Source: MOSL)
- While valuations remain high, we are positive about a good demand environment and sustainable double-digit revenue growth over the medium term. We see continued strong demand, led by: 1) more deals for a full digital transformation, 2) upward price revisions, and 3) higher cloud migration spend by large enterprises.
- Continuing strong sequential growth momentum and expectations of a qualitative commentary on growth after FY22 should support the rally in IT stocks, despite their premium valuations.
- We prefer Tier I players over their Tier II counterparts given their relative valuation attractiveness and tendency to narrow the valuation gap over time
NCC wins 5 new orders worth Rs 1,900 crore
Price on Jan 03, 2022 11:07 am, Click on company names for their live prices.
Rupee starts 2022 on a muted note, falling 14 paise to 74.43 against the US dollar
IndiGo, SpiceJet drop to 3% as jet fuel prices rise
Price on Jan 03, 2022 10:29 am, Click on company names for their live prices.
NIFTY BANK Trades Above 200 DMA . for the First Time Since Dec 17
Although Omicron is spreading rapidly, the market does not expect any restraint in economic activity that will affect growth and profits. IT outperformance (60% in 2021 and 55% in 2020) is likely to continue into 2022. Private Bank’s underperformance (4.58% in 2021) is likely to be reversed in 2022 by strengthening credit demand, declining NPAs and rising margins. Investors should prepare for modest returns in 2022, with outperformance expected from financial, IT, telecom and construction-related segments
– dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Gold loses Rs 50 on MCX in early trading
Gold prices traded slightly lower in domestic markets on Monday, against the firm global trend amid rising US Treasury yields. That said, a rise in Omicron cases around the world did the downside. Gold futures on MCX fell 0.19 percent or Rs 49 to Rs 48,056 per 10 grams. Silver fell 0.37 percent or Rs 230 against Rs 62,430 per kg.
Most auto stocks trade in green earnings after December auto sales
Price on Jan 03, 2022 09:25 am, Click on company names for their live prices.
Bajaj Auto Dec Sales Down 3% YoY
Top movers when opening deals
Price on Jan 03, 2022 09:21 o’clock, Click on company names for their live prices.
Handy passes 17,450 level
Top Sensex Contributors at Trade Opening
OPENING BELL: Sensex climbs 300 points, Nifty tops 17,400; PVR drops 3%, Inox Leisure 2%
Pre-open session: Sensex rises 50 points, Nifty50 below 17,300
SGX Nifty signals a positive start
Handy futures on the Singapore Exchange traded 20 points, or 0.11%, higher at 17,459.50, indicating Dalal Street was off to a positive start on Monday.
Tech View: Nifty50 resistance seen at 17,500 level
Nifty50 on Friday passed the 17,350 level and formed a bullish candle on the daily and weekly charts. Analysts said technical charts indicate momentum is building and the index could reach 17,500-17,600 levels in the near term, while hinting at support near the 17,230 level.
Oil starts the new year on a positive note
Oil prices rose Monday as the market started 2022 on a positive note, although concerns about dwindling demand due to the rapidly spreading COVID-19 pandemic limited gains. Brent oil added 67 cents, or 0.86%, to $78.45 a barrel. US West Texas Intermediate crude oil futures rose 77 cents, or 1.02%, to $75.98 a barrel.
Markets in Japan, China closed for holiday
In Australia, China, Japan, New Zealand and Thailand, the financial markets will be closed on Monday for holidays.
Hong Kong stocks kick off the year in the foreground
Hong Kong shares rose on opening Monday, starting the new year on a positive note after a healthy close to 2021, although traders remain keen on a range of issues, including the rapidly spreading Omicron virus variant. The Hang Seng index rose 0.48 percent or 112.87 points to 23,510.54 points. Mainland China markets are closed for a holiday
China Evergrande Shares Stop Trading
China Evergrande Group said stock trading will be suspended on Monday, without explanation. The controversial property developer has more than $300 billion in debt and is trying to raise money by selling assets and stock to pay back suppliers and creditors.
U shares end on a weak note in 2021
Stocks ended a quiet trading day on Friday with modest losses, even as Wall Street closed the books on another record year. Major indices have been trading between small gains and losses for much of the day. The S&P500 index fell 12.55 points, or 0.3%, to 4,766.18. The Dow fell 59.78 points, or 0.2%, to 36,338.30. The Nasdaq fell 96.59 points, or 0.6%, to 15,644.97 points.
Rupee closes 2021 at 74.29, down 1.67% year-on-year
The rupee rose 13 paise to close at 74.29 against the US dollar during the last trading session of 2021, trailing positive domestic stocks amid year-end sell-offs by banks and exporters. However, the rupee closed the year 2021 with an overall loss of 122 paise, or 1.67 percent, due to a rise in the price of crude oil and rising US bond yields amid expectations that the US Federal Reserve will raise interest rates to curb inflation.
Sensex, Nifty on Friday
The Indian stock market ended 2021 with a high on Friday, with the BSE benchmark Sensex rising more than 450 points and the NSE Nifty rising more than 150 points due to widespread purchases across all sectors. The Sensex closed 459.50 points or 0.80 percent higher at 58,253.82 and the Nifty finished 150.10 points or 0.87 percent higher at 17,354.05.
Good morning, dear reader! Here’s something to kickstart your trading day
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Sources 2/ https://economictimes.indiatimes.com/sensex-nifty-live-today-2022-01-03/liveblog/88656368.cms The mention sources can contact us to remove/changing this article |
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