The two key equity benchmarks, Sensex and Nifty, on Monday ended the first trading session of 2023 in the green as the frontline indices closed with firm gains. The trade remained volatile, mostly during the early hours due to a lack of global triggers, with most markets worldwide being closed on account of New Year.
The 30-share BSE Sensex, which dipped into the red during early trade, gained strength to close 327 points higher at 61,168. However, this was off the day’s high of 61,223. On the other hand, the broader NSE Nifty touched a low of 18,086 but bounced back to close at 18,197, up 92 points.
On the 30-share Sensex platform, Tata Steel (up 5.8 per cent), Tata Motors (up 1.8 per cent), ICICI Bank (1.5 per cent), M&M (1 per cent), and Reliance (1 per cent) emerged as the top winners. Hindalco and ONGC were the additional gainers on Nifty, up around 3 per cent each. On the flip side, Asian Paints, Titan, Tech M, Bajaj Finance, Sun Pharma, Nestle, HUL, Divi’s Labs, Bajaj Auto, and Hero Moto were the top index losers, which shed up to1.4 per cent.
In the broader markets, the BSE Smallcap and Midcap indices closing 0.8 per cent and 0.6 per cent higher, respectively.
Sectorally, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to ‘positive’. Other sectoral gainers included Nifty Realty, PSB and financial services while Nifty Pharma and consumer durables underperformed and lost up to 0.4 per cent.
Some markets in Europe rose on Monday with STOXX Europe 600, DAX and CAC 40 gaining 0.8-1.5 per cent. Markets in London and Dublin were closed.
In the previous session on Friday, the last trading day of 2022, the BSE Sensex declined 293 points to of 60,841. On the other hand, the NSE Nifty 50 settled 86 points lower on the last trading day of the year to 18,105.
Meanwhile, the rupee started the New Year on a muted note, declining 14 paise to close at 82.75 (provisional) against the US dollar on Monday as rising crude oil prices and sustained foreign fund outflows weighed on investor sentiment.
Forex traders said the support from firm domestic equities and weak American currency was negated by the gains in crude oil prices and sustained foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 82.66 against the greenback and witnessed an intra-day high of 82.56 and a low of 82.78.
It finally settled at 82.75, down 14 paise over its previous close. On the last trading day of 2022, the rupee had settled at 82.61.
Global oil benchmark Brent crude futures rose 2.94 per cent to $85.91 per barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital market on Friday, as they offloaded shares worth Rs 2,950.89 crore, as per stock exchange data.