Sensex, Nifty hit day's high

The main indices traded at the day's high with decent gains in morning trade. The Nifty traded above the 17,250 level. Financials, auto and FMCG stocks saw buying while realty and metal shares declined.

At 10:27 IST, the barometer index, the S&P BSE Sensex, jumped 406.62 points or 0.7% at 58,091.41. The Nifty 50 index added 119.30 points or 0.69% at 17,286.75.

In the broader market, the S&P BSE Mid-Cap index rose 0.29% while the S&P BSE Small-Cap index added 0.62%.

The market breadth was strong. On the BSE, 1977 shares rose and 948 shares fell. A total of 141 shares were unchanged.

India Trade Data:

India's merchandise exports in November 2021 was $29.88 billion, an increase of 26.49% over $23.62 billion in November 2020 and an increase of 15.93% over $25.77 billion in November 2019. Merchandise exports in April-November 2021 was $262.46 billion, an increase of 50.71% over $174.15 billion in April-November 2020 and an increase of 24.29% over $211.17 billion in April-November 2019.

Meanwhile, merchandise imports in November 2021 stood at $53.15 billion, an increase of 57.18% over $33.81 billion in November 2020 and an increase of 37.96% over $38.52 billion in November 2019. Merchandise imports in April-November 2021 was $384.44 billion, an increase of 75.39% over $219.19 billion in April-November 2020 and an increase of 18.44% over $324.59 billion in April-November 2019.

The trade deficit in November 2021 was $23.27 billion, while it was $121.98 billion during April-November 2021.

Buzzing Index:

The Nifty FMCG gained 0.62% to 37,689.10. The index has added 1% in three days.

Britannia Industries (up 1.61%), Nestle India (up 1.22%), Procter Gamble Hygiene and Health (up 0.9%), Colgate Palmolive (up 0.82%) and Hindustan Unilever (up 0.82%) were top gainers in FMCG space.

Stocks in Spotlight:

Hero MotoCorp rose 0.78%. The company registered sale of 3,49,393 units in November 2021, down 40.89% compared with 5,91,091 in November 2020. Hero MotoCorp's total sales declined 36.24% last month compared with 5,47,970 units recorded in October 2021. Total domestic sales fell 42.90% to 3,28,862 units, while total exports jumped 35.66% to 20,531 units in November 2021 over November 2020. Motorcycle sales stood at 3,29,185 units (down 39.20% YoY) and scooter sales were recorded at 20,208 units (down 59.30% YoY) in November 2021. The two-wheeler major said that delay in harvesting due to the late withdrawal of monsoon in many parts of the country, impacted the demand post festive season. "With the economy gradually opening up coupled with several other positive indicators, such as encouraging farm activity, confident consumer index and marriage season, a swift revival in sales is expected in the fourth quarter," it said.

Eicher Motors rose 0.13%. The company said that its total motorcycles sales declined 19% to 51,654 units in November 2021 as against 63,782 units sold in the same period last year. While sales of motorcycle models with engine capacity upto 350cc fell by 25% to 43,346 units, sales of motorcycle models with engine capacity exceeding 350cc rose by 31% to 8,308 units in November 2021 over November 2020. The company exported 6,824 motorcycle units (up 45% YoY) during the period under review.

New Delhi Television (NDTV) hit an upper circuit limit of 5% at Rs 79.80 after NDTV Convergence signed a 10-year deal with Nasdaq-listed Taboola, which can generate revenue of Rs 750 crore ($100 million). Taboola is a global leader in powering recommendations for the open web, helping people discover content they may like.

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