Sensex gains 460pts to end record-breaking year with a bang; up 22% in 2021

The Nifty gained 150 points, and was up 24.1 per cent for the year; Textile shares logged smart gains today after the GST Council deferred rate hike; Debutant CMS Info Systems witnessed a late rally

Closing Bell

The key benchmark indices ended the record-breaking year 2021 on a high note. The Sensex and the Nifty displayed a firm trend throughout the day on the back of steady gains auto, financials, FMCG and index heavyweight Reliance Industries.

The Sensex touched a high of 58,409, and ended with a gain of 460 points at 58,254. In the process, the BSE benchmark was up 1,130 points for the week.

The 30-share index finished the calendar year with a solid gain of 22 per cent (10,503 points), after having touched a new life-time high of 62,245 on October 19, 2021.

The NSE Nifty settled 150 points higher at 17,354, and was up a whopping 24.1 per cent for 2021.

Market Dashboard: Snapshot of key movers and shakers in trade today

"Year 2021 was an interesting one. Markets were kept a close eye on the vaccination, global commodities outpaced other assets, and a strong second wave of Covid that shook the country though with a faster economic recovery in this round. The second half of the year saw a good amount of fundraising for IPOs, supply chain disruptions and an emerging new Covid variant. One thing that remained consistent was volatility and uncertainty," said Chandresh Nigam, MD & CEO at Axis Asset Management.

Adding: "Year 2022, like the previous two years, can be the one where volatility will be a key part of the markets. Markets have seen a one-way rally since 2021 driven by several tailwinds in the economy, the progress of the vaccination and the return of corporate profit growth. Omicron, demand recovery and return to normalcy along with the monetary policy stances will be key things to look out for as the year progresses."

Buzzing stocks of the day

Titan was the top gainer among the Sensex 30 stocks, it ended 3.5 per cent higher at Rs 2,522.  UltraTech Cement and Kotak Bank were up around 2.5 per cent each. Maruti, Axis Bank, SBI, Bajaj Finserv, Hindustan Unilever, Bajaj Finance, HDFC Bank, Nestle and Sun Pharma were the other major gainers.



On the flip side, IT stocks kind-off under-performed in trades on Friday owing to selective profit-taking. Among others, NTPC slipped 2 per cent.

The broader markets outperformed the benchmark indices. The BSE Midcap and Smallcap indices were up 1.4 per cent and 1.2 per cent, respectively.



Textile stocks ended with solid gains after the GST Council decided to defer implementation of the hike GST rates for the time being. The matter will be taken for discussion in the next GST meet in February 2022. Among the lot, TT Ginni Filaments and Super Spinning were the major gainers, up 10-11 per cent each. Salona Cotspin, SPL Industries, GTN Textiles, Cantabil Retail, Donear Industries, Digjam, Bombay Dyeing, VIP Clothing, SEL Manufacturing, Bhandari Hosiery, STL Global and Mittal Life Style were the other major gainers, up over 5 per cent each.

Debutant, CMS Info Systems after buyers after starting trade on a tepid note. The stock listed at a marginal 1.2 per cent premium at Rs 218.50 on the BSE as against the issue price of Rs 216. However, the stock later rally to a high of Rs 260, and finally ended with a gain of 11.3 per cent at Rs 240.35. READ MORE

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Among sectoral indices, BSE MEtal and Consumer Durables indices were up over 2 per cent each. The Auto and Telecom indices gained 1.7 per cent each. The Bankex, FMCG, Oil & Gas and Realty indices also finished with gains in excess of a per cent each.

The overall breadth too was extremely positive, with 2,438 stocks advancing versus 944 declining stocks on the BSE on Friday.
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Markets at 02:30 PM

LIVE market updates: The key benchmark indices contionued to hold steady gains, although they were marginally off the day's high.

The BSE Sensex was up 488 points at 58,282, as against the day's high of 58,409. The NSE Nifty was up 158 points at 17,362.

Titan, UltraTech Cement and Kotak Bank remain the top gainers among the Sensex 30 shares, while NTPC was the major losers.

Shares of textile companies logged significant gains after the GST Council deferred hike in rates on textiles from 5 per cent to 12 per cent, which was suppose to be implemented from January 01. The matter will now be taken for discussion now in the February 2022 meeting.

TT was the top gainer, up almost 15 per cent at Rs 95. Ginni Filaments, Super Spinning, Salona Cotspin and SPL Industries were up 7-13 per cent each. Cantabil Retail, GTN Textiles, Donear Industries, Digjam, Jet Knitwears, Bombay Dyeing, VIP clothing, SEL Manufacturing and Bhandari Hosiery were up 5 per cent each.
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Markets at 1:45 pm

LIVE market updates: The benchmark indices were firm in late afternoon deals after touching the day's highs. The BSE Sensex that had jumped 600 points to cross the 58,400 level, was at 58,346, while the NSE Nifty was 176 points up at 17,380. It had touched a high of 17,400.

The up move was supported by gains in heavyweights such as Reliance, ITC, and banks. Shares of Reliance surged nearly 1 per cent after arm Reliance New Energy Solar Ltd (RNESL) signed a definitive agreement to acquire 100 per cent stake in UK-based Faradion Limited for an enterprise value of GBP 100 million. READ MORE. 

Meanwhile, reports suggested that the GST council today unanimously decided to defer hike in GST rates on textiles from 5 per cent to the proposed 12 per cent. The new 12 per cent GST rate on the sector was to come into effect from January 1. Shares of textile companies such as Trident, Bombay Dyeing, Arvind, Alok Industries were trading 1.5-4 per cent higher. 

Sectorally, all indices were in green with metals and public sector bank indices up 2 per cent on NSE. The auto index was up 1.7 per cent. Balkrishna Ind, Amara Raja, Maruti, Exide, Tata Motors, Eicher, Bajaj Auto were trading 1.4-2 per cent higher, a day before auto companies release sales data for the month of December. 

On the Sensex, only Dr Reddy's Labs, NTPC, PowerGrid and Tech Mahindra were trading in the red zone. On the Nifty, Cipla and SBI Life were the additonal losers. 

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Markets at 12:45 pm

LIVE market updates: The benchmark indices climbed up to touch their respective highs of the day. The BSE Sensex was up over 500 points at 58,363, and the NSE Nifty was at 17,390, 180 points higher. 

The broader market was seen outperforming the headline indices with the BSE MidCap and SmallCap indices up to 1.4 per cent higher.
 

On the midcap index, New India Assurance, General Insurance Corp, Vodafone Idea, Tata Communications, Honeywell Automation, BHEL, ACC, Ramco Cements, Amara Raja, Jindal Steel, Sail, Voltas, IDFC First Bank were top gainers, trading 2.3-4 per cent higher.

Responsive Ind, Indigo Paints, IDFC and Jubilant Industries were among the top gainers on the BSE SmallCap index.

Among sectors, all indices were in the green except IT and were trading 0.6-2 per cent higher. 

That apart, Sun Pharma, TCS, UltraTech are among the 5 Sensex stocks that investors should bet on for year 2022 as these may see up to 20 per cent jump going ahead, chart formations suggest. READ MORE.

Asian markets
Hong Kong stocks led gains among major Asia-Pacific markets on Friday, with Chinese tech stocks in the city soaring.

Markets in Australia, Hong Kong and Singapore closed early for the final trading day of the year. Elsewhere in Asia, markets in Japan and South Korea were closed on Friday. The Hang Seng index in Hong Kong jumped 1.24 per cent to 23,397.67, paring some losses but still tumbling about 14 per cent for the year.

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Markets at 11am

LIVE market updates: Headline indices were firmly holding their opening gains in late morning trade. The BSE Sensex was 400 points higher at 58,199, and the NSE Nifty was at 17,344, 140 points higher.

The broader market too was putting up strong momentum with the BSE MidCap and SmallCap indices trading nearly 1 per cent higher. 

Sectorally, IT and Pharma were weak after being top outperformers in the last two sessions. IT index was down 0.4 per cent, while pharma was up only 0.4 per cent, in contrast with other indices trading nearly 1 per cent higher.

On the other hand,  Metals, Auto, Financials and banks were the top gainers on the NSE. The indices were up 1-2 per cent. 

Further, textile stocks were trading higher ahead of the GST Council Meeting today, where tax rationalisation for the sector is likely be discussed. 
 

Among stocks, Indigo Paints zoomed 16 per cent to a high of Rs 2,247 in intraday trades on the BSE on the back of renewed buying interest at the counter. Brokerage firm Motilal Oswal has initiated a coverage on the stock with 'Buy' rating and price target of Rs 2,270. READ MORE.

That apart, Responsive Industries has witnessed a phenomenal rally in the last three trading sessions after the company announced its quarterly and half-yearly numbers for the period ended September 2021 on December 28, 2021. READ MORE.
 

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Markets at 10 am
 

LIVE market updates: The frontline indices continued to extend their opening gains. Index heavyweights Reliance, HDFC Bank, Bharti Airtel along with financial stiocks were supporting the up move. The BSE Sensex was over 400 points higher at 58,262 and the NSE Nifty was at 17,345, up 140 points.

Among laggards on the Sensex were IT majors Infosys, Wipro, and HCL Technologies, trading up to 0.5 per cent lower. PowerGrid, NTPC and Tech Mahindra were the other losers. On the Nifty, ONGC and Cipla were the additonal losers. 

IDFC Ltd was trading nearly 8 per cent higher on the BSE after IDFC First Bank approved a proposal to merge itself with the former and IDFC Financial Holding Company(promoter group). 

New listing: Shares of CMS Info Systems made a muted market debut getting listed at Rs 220 per share on the NSE, nearly 2 per cent premium over the issue price of Rs 216 a piece. On the BSE, the stock opened at Rs 218.5 per share. READ MORE.
 

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Opening Bell

LIVE market updates: The benchmark indices had a positive start on Friday after four days of muted action and rallied up to 0.6 per cent. The BSE Sensex crossed the 58,000 mark and was at 58,131, up over 300 points, while the NSE Nifty was up nearly 100 points at 17,300.

The broader markets were also in the green. The BSE MidCap and SmallCap indices were 0.7and 0.9 per cent higher, respectively.

Among the Sensex-30 shares, Titan, Kotak Bank, Axis Bank, Tata Steel, ICICI Bank, Ultratech Cement, Reliance, Bharti Airtel, M&M, ITC, HUL,  were among the major gainers, up 0.6-2 per cent. On the Nifty, Hindalco (up 3.5 per cent), Tata Motors( up 1.8 per cent) and Grasim( up 1.4 per cent) were the additonal gainers. 

Sectorally, Nifty Metal and Realty were the leading gainers, up over 1 per cent each. All bank indices also seemed to have bounced back, trading 1 per cent higher or more. IT and Pharma were largely flat. 

F&O rollover update

Post heavy selloff in first half of the series, a sharp comeback from lows was seen on the Nifty from 16400 to back above 17,200 levels. Nifty/BankNifty finished series with losses of 1.9/6.2 per cent each. 

Highlights for the December series were: a) FII’s continue to dump heavy in cash markets; b) BankNifty down around 20 per cent from three-month high, while Nifty IT at life high levels; c) India VIX ended near 16 mark as traders awaits earnings for next directional cues; d) BankNifty down over 5 per cent on back to back series to remain volatile.

Rollovers for Nifty/Bank‐Nifty stood at 78 per cent (1.04cr shrs)/84 per cent (24lakh shrs) vs 83 per cent (1.09cr shrs)/84 per cent (23.7lakh shrs) previous month, roll cost stood near 50 points for Nifty, Market wide rolls stood at 91 per centvs 94 per cent previous month.

Options volumes hint at comparatively lower trading band +/‐600 points from 17200 at the money (ATM) mark. We expect 17600 to 16700 as trading range for Nifty. Sector churn is key; IT stocks showing relative strength and banking stocks continue to drag.

(Source: YES Securities)

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Pre-open session

LIVE market updates: The benchmark indices were slightly in the green zone in the pre-open session. The BSE Sensex was 

up 50 points at 57,849, while the NSE Nifty was 40 points higher at 17,244. 

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LIVE market updates: The benchmark indices are expected to extend their muted performance on the last day of the year given tepid global market cues.  

As of 07:40 AM, the SGX Nifty January futures were quoted at 17,306, indicating a likely opening gain of 40-odd points for the NSE Nifty.

Among individual shares, textile stocks are likely to be in focus as the GST Council is scheduled to meet today to discuss possible roll-back of the hike in GST rates for the sector.

IndiGo too may be eyed after its shareholders voted strongly in favour of scrapping a clause in the articles of association (AoA) that gives the airline’s two promoters a right of first refusal (RoFR) over the acquisition of each other’s shares. READ MORE

IDFC First Bank may be looked out for as it has approved a proposal for merger of ‘IDFC Ltd’ and ‘IDFC Financial Holding Company (Promoter Group) with itself. 

New listing 
CMS Info Systems will make its debut on the bourses. The IPO was subscribed 1.95 times, hence the stock may see a tepid listing.  

Global cues

In the US, Dow Jones and the S&P 500 indexes hit record highs in intraday trades as a dip in weekly jobless allayed fears over the economic damage from the Omicron variant. The key benchmark indices eventually ended marginally in red. Dow, S&P 500 and Nasdaq were around 0.2-0.3 per cent each.

Oil prices rose edged slightly higher in trades on Thursday with focus now shifting on the OPEC+ meeting on January 04. Brent Crude added 0.1 per cent to $79.32 a barrel, and WTI Crude was up 0.6 per cent to $76.90 a barrel.

Most of the Asian markets were closed for trading owing to the New Year’s eve holiday. Among those open, Hang Seng had surged 1.9 per cent. Shanghai Composite was up 0.4 per cent and Straits Times had added 0.3 per cent.