Barometers trade with modest gains, Hindalco Inds rallies over 5%

The headline equity indices traded with modest gains in afternoon trade. The Nifty traded a tad above the 18,100 level after hitting the day's low of 17,967.45 in the morning trade. Metal, PSU bank and realty stocks advanced while FMCG and healthcare shares declined.

At 13:50 IST, the barometer index, the S&P BSE Sensex, was up 253 points or 0.42% to 60,819.42. The Nifty 50 index added 86.40 points or 0.48% to 18,101.00.

In the broader market, the S&P BSE Mid-Cap index advanced 0.52% while the S&P BSE Small-Cap index gained 1.38%.

The market breadth was strong. On the BSE, 2,495 shares rose, and 947 shares fell. A total of 125 shares were unchanged.

Gainers & Losers:

Hindalco Industries (up 5.36%), Tata Steel (up 3.4.90%), JSW Steel (up 3.82%), Tata Motors (up 2.78%) and ONGC (up 2.37%) were top Nifty gainers.

Apollo Hospitals Enterprise (down 1.08%), Hindustan Unilever (down 1.02%), Nestle India (down 1.31%), Dr. Reddy's Laboratories (down 0.48%) and HDFC Bank (down 0.44%) were major Nifty losers.

Global Markets:

Shares in Europe advanced while Asian stocks traded mixed on Tuesday after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing COVID-19. Markets in some regions including Hong Kong and Australia remain shut on Tuesday.

China will stop requiring inbound travellers to go into quarantine starting from January 8. It will also downgrade the seriousness of COVID-19 as it has become less virulent and will gradually evolve into a common respiratory infection.

The U.S. and European markets were closed on Monday for Christmas holidays.

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